Forgoing fabulous on Fifth

Upgrade of retail stretch in 40s halted by recession
October 16, 2009 06:56PM

Ricky’s on Fifth Avenue

From the October issue: Fifth Avenue in the 40s is in retail flux. Nearly a dozen spaces on the
10-block stretch are vacant or on the market, including the former
Circuit City store and the former indoor mall at 575 Fifth Avenue and
47th Street. Meanwhile, new tenants like LittleMissMatched, the upscale
children’s apparel store, have recently entered the area. The strip includes the gateway to the Diamond District, along with the
eastern edge of Rockefeller Center, and is dotted with camera and
souvenir shops, as well as low-end food merchants. It has long been the
dowdy stepsister to Fifth Avenue in the 50s, which is lined with tony
tenants such as Saks Fifth Avenue, Tiffany and Bergdorf Goodman. But in recent years, the stretch started attracting higher-end retail
tenants, such as American Girl Place, Build-A-Bear and Aldo, the shoe
store. In fact, many expected it to keep getting fancier.