NREI
The value of Hudson’s Bay Co.’s Saks Fifth Avenue flagship store has plummeted over the last five years, pulled down by retail woes and sliding rents in a high-profile Manhattan shopping district.
The building at 611 Fifth Ave. was recently appraised at $1.6 billion, according to a filing by the Toronto-based company, dropping almost 60% from about $3.7 billion five years ago.. . . more
