$3,500: Per-Square-Foot Rent on Upper 5th Ave. NYC

The video discusses the high rents on New York's 5th Ave, making it the most expensive retail real estate globally. Microsoft plans to open a flagship store there, contributing to a 13% rent increase. New York has surpassed Hong Kong's Causeway Bay, where rents have dropped due to China's economic slowdown. Paris's Champs-Élysées ranks third in retail rent costs.

What makes upper 5th Avenue in New York notable in terms of retail real estate?

• It has the highest number of retail stores.

• It is the least popular shopping destination.

• It is the most expensive retail real estate globally.

• It has the most affordable rents in the world.

Which company announced plans to open a flagship store on 5th Avenue?

• Microsoft

• Apple

• Amazon

• Google

By what percentage have rents increased on 5th Avenue in the last year?

• 13%

• 10%

• 20%

• 5%

Which location did New York overtake to become the most expensive in terms of street rents?

• Paris's Champs-Élysées

• Hong Kong's Causeway Bay

• London's Oxford Street

• Tokyo's Ginza

What is the reason for the decline in rents at Hong Kong's Causeway Bay?

• Increase in tourism

• Economic slowdown in China

• Rise in local businesses

• Government regulations