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New York’s Fifth Avenue crowned world’s most expensive shopping street
Research - NOVEMBER 30, 2022

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New York’s Fifth Avenue crowned world’s most expensive shopping street

by Andrea Zander

New York’s Fifth Avenue has reclaimed its position as the world’s most expensive retail street, with average rents of $2,000 per square foot per year, according to Cushman & Wakefield in its Main Streets Across the World report.

“The industry has been through one of the biggest stress tests imaginable over the past few years, but best-in-class retail real estate has remained robust. While we now face new economic challenges, the conversation has shifted from pessimism to retail´s omnichannel evolution,” said Robert Travers, head of EMEA retail at Cushman & Wakefield. “Many brands are playing the long game and seeking to secure prime opportunities to adapt to ever-demanding customer needs. With further investment in high-quality in-store experiences and advances in omnichannel approaches, we are confident in the resilience of the sector, particularly at

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