Wednesday , April 21 2021

The fifth avenue in NY is no longer expensive in the world, see who replaced it

Photo: TurismoNuevaYork

(Caracas, November 18th. News24) –The famous Fifth Avenue of New York, which houses both iconic buildings and luxury shopsoccupies the second place to hire the most expensive retail in the world, especially the corridor between ninety nine and sixty streets.

The fashion brands Prada, Versace, Dior, Louis Buitton or Cartier are some of the names in the famous and expensive Fifth Avenue corridor, with a rent of $ 2,250 per square meter (0.09 square feet) of the "Main Streets Across the World" report, prepared by US real estate company Cushman & Wakefield.

The famous New York Street, where also the private residence of the current US President, Donald Trump, was displaced this year by his reign of Causeway Bay, in Hong Kong, which requires $ 2,671 for the same retail rental space, according to the report, which publishes Real Estate's The Real Deal magazine.

No other city in the United States is shown in the top ten on that list.

The third place is occupied New Bond Street, London, UK, with a price of 1 744 per square meter, followed by France, Italy and Japan.

The report also shows that the third quarter of this year reflected a decrease in the construction of multi-family houses in Manhattan, where 4,490 units were completed, a decrease of 750 compared with the same period last year.

Close to Half of these homes were built in lower Manhattan.

However, where there was no decline, rental prices, with an increase of about 3.2 percent, are for a monthly average of Manhattan's $ 3 360 monthly.

But that figure is even higher in other areas of this district, for example The southern part of Midtown, which had an increase of 4.5 percent during that period, is placed in approximately $ 4 178 per month

With information from the EFE

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