Fifth Avenue vacancies are near 13-year high

Fifth Avenue used to command top dollar from high-end retailers willing to pay any cost to have a place on the avenue. But those days are over. Average ground-floor asking rents on the tony shopping strip between 49th and 59th streets are down 11 percent from their peak in early 2017 to $2,779 a square foot in the first quarter, according to data from Cushman and Wakefield cited by the Wall Street Journal. “Even must-have […]

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