Tuesday, May 7, 2019

Fifth Avenue Losing Luster as Vacancies Climb, Rents Fall

The Wall Street Journal
Global retailers once seemed to pay whatever it took to lease space on Manhattan’s Fifth Avenue. That doesn’t appear to be the case anymore.

The section of the avenue that stretches about 10 blocks from Saks Fifth Avenue at East 49th Street to the southeast corner of Central Park is one of the city’s major tourist attractions, boasting luxury brands like Gucci, Rolex and Tiffany & Co.. . . more