Relevant:
- Retail Rents Have Dropped More Than 20% In Parts Of Manhattan As Landlords Get Desperate
- NYC Landlords Slash Retail Rents to Ward Off Vacancies
- Retail Rents Fall in New York; Champs-Elysees Is Most Expensive
- NYC's Fifth Avenue Sees Steep Rent Decline as Tenants Struggle
- Manhattan's Upper East Side is facing a retail vacancy epidemic
2009-05-14 — bloomberg.com
"Retail rents on Manhattan’s Fifth Avenue, the world’s most expensive commercial strip, declined 15 percent in the first quarter from a year earlier as a drop in consumer spending crimped sales, Colliers International said."
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