From the December issue: Upper Fifth Avenue (the portion between 49th and 59th streets) is the most expensive retail stretch in the world. However, it’s not the most stable. This past year, the strip saw an unusual amount of activity taking place in its 60-plus spaces, with about a dozen retailers signing leases, opening stores or changing brands.
The half-mile span, where CBRE Group says asking rents average more than $2,400 per square foot, is now jammed with holiday shoppers jostling for gifts.
But behind the scenes, there are other groups jockeying for position: the real estate brokers, dealmakers and analysts who pore over pedestrian counts, comparable leases and store revenue numbers to determine what spaces they or their clients can afford.
This month, The Real Deal looks at the current tenants in the nearly three dozen retail buildings along the stretch, as well as possible new arrivals. We combed through property records and news reports, and interviewed brokers and owners who specialize in Fifth Avenue. [more]





