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New York

Same stores, different streets: US’s priciest retail strips are attracting identical luxury brands

Think Upper Fifth Avenue, Rodeo Drive in Beverly Hills, Union Square in San Francisco, North Michigan Avenue in Chicago and Lincoln Road in Miami Beach

New York City's Fifth Avenue, San Francisco's Union Square, Miami Beach's Lincoln Road, Chicago's Magnificent Mile on Michigan Avenue, and Beverly Hills' Rodeo Drive are among the most expensive retail strips in the U.S.
New York City's Fifth Avenue, San Francisco's Union Square, Miami Beach's Lincoln Road, Chicago's Magnificent Mile on Michigan Avenue, and Beverly Hills' Rodeo Drive are among the most expensive retail strips in the U.S.

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From the special retail issue: The marble walls of the Fifth Avenue flagship of Italian fashion designer Valentino are a fitting touch for the world’s most expensive retail neighborhood, located between 49th and 60th streets in Manhattan. A doorman welcomes customers inside the three-floor luxury store with its displays of Rockstud shoes and bags and a sculptural gray and white mosaic staircase. The trophy property’s owner, Thor Equities, recently went into contract to sell the building for $525 million to a thus-far undisclosed buyer. [more]

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Retail Real Estate