All About Trivia

Thursday, May 18, 2006

What is the Most Expensive Shopping Location in the World?


Midtown Manhattan Is the World's Most Expensive Shopping Location. Fifth Avenue and East 57th Street in New York City share first place as the world's most expensive retail location in this year's edition of Main Streets Across the World, an annual report by Cushman & Wakefield, the global real estate services firm. With rents per square foot at US$700, the New York retail destination that stretches from 52nd to 58th Streets on Fifth Avenue and then along East 57th Street to where it meets Madison Avenue is 20 percent more expensive than Paris' Avenue des Champs Elysées. Meanwhile, rents on Madison Avenue, at US$650 per square foot, were the fastest growing in the US, showing an increase of 25 percent.

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