Manhattan’s Retail Rents Reach $4K PSFT, the Most Expensive in the World

With monthly rents reaching $4,000 per square foot, New York’s Fifth Avenue is the most expensive retail market in the world, according to a report by global real estate firm, CBRE.

New York beat out Hong Kong, where retail rents declined by 33% on the back of an economic slowdown in China, according to the World Property Journal.