5th Avenue - Midtown

Location

North of 42nd on 5th Avenue and South of 59th on 5th Avenue

Estimated Gross Rent

$450 - $2,500 PSF

Most Desirable Block(s)

5th Avenue from 42nd - 59th St. Luxury retailers are primarily positioned from 50th-59th St. and national chains are primarily positioned from 42nd-50th St.

Location

New York City, NY

North of 42nd on 5th Avenue and South of 59th on 5th Avenue

Estimated Gross Rent

$450 - $2,500 PSF

Most Desirable Block(s)

5th Avenue from 42nd - 59th St. Luxury retailers are primarily positioned from 50th-59th St. and national chains are primarily positioned from 42nd-50th St.

Description

Few retail corridors in the retail landscape command the level of prestige and visibility as Fifth Avenue in Midtown Manhattan. Running from 42nd Street to 59th Street, this jetsetting stretch is home to luxury flagships, world-renowned department stores, and experiential retail concepts that define the pinnacle of high-end shopping – and oftentimes flip in on its head. Legacy brands like Louis Vuitton, Chanel, and Tiffany & Co. sit alongside national powerhouses such as Apple, Swarovski, and Vuori, guaranteeing a dynamic mix of exclusivity and mass appeal. With iconic landmarks like Rockefeller Center and Bergdorf Goodman, this corridor continues to set the standard for global retail excell

News & Alerts

SKIMS Opens First Flagship Store on New York’s Fifth Avenue

6 months ago

Local experts

Jason Richter

Managing Partner

Capricorn Retail Advisors

Liz Segal

Senior Managing Director

Capricorn Retail Advisors

Oliver Barakat

Associate

Capricorn Retail Advisors

Top brands

Local Expert Analysis

Market Metrics and Leasing Trends Fifth Avenue maintains its position as the upscale shopping corridor in New York City, with luxury and flagship retailers driving long-term leasing commitments. Rental rates vary widely, from $450 to $2,500 per square foot, with the highest-priced spaces concentrated between 50th and 59th Street, where brands like Prada, Moncler, and Dolce & Gabbana dominate. National retailers and experiential brands tend to cluster south of 50th Street, where rents are more moderate. Recent leasing trends highlight continued investment in flagship real estate, as seen with Kering, Prada, and Uniqlo purchasing properties outright, signaling long-term confidence in the corridor’s viability. Additionally, the growing emphasis on hospitality-driven retail concepts, such as the Louis Vuitton Café, reflects the demand for experiential storefronts that blend luxury with lifestyle.Despite strong leasing activity, Fifth Avenue’s sky-high rents require retailers to maximize their brand presence through strategic experiential elements and high-margin product offerings. The corridor remains ultra-competitive, demanding that brands bring bold design concepts and exclusive retail experiences to stand out. Customer Demographics and Foot Traffic Fifth Avenue benefits from a powerful trifecta of retail consumers: high-income locals, international tourists, and office professionals. The return of Midtown office workers has contributed to a an up-tick in weekday traffic, while tourism - driven by attractions like St. Patrick’s Cathedral, MoMA, and Times Square - remains a major economic drive in the area. Luxury tourism continues to be a driving factor, as Fifth Avenue is considered a bucket-list shopping destination for international visitors. Corporate density supports steady weekday foot traffic, particularly during lunch hours, while the holiday shopping season transforms Fifth Avenue into a global retail spectacle, attracting millions of visitors. The flagship shopping experience remains a key draw, with high-end consumers seeking personalized service, exclusive product drops, and immersive brand experiences. Future Trends Fifth Avenue is in for the long haul of its sustained dominance of the region, with major trends shaping its trajectory. More brands are securing long-term leases and investing in immersive, large-format retail spaces. Hospitality-infused retail is becoming more prominent, with concepts like brand cafes, private lounges, and concierge shopping services elevating the customer experience. As tourism rebounds and corporate office occupancy rises, retailers will benefit from a diverse, high-spending audience. Conclusion Midtown’s Fifth Avenue remains an international and noteworthy retail stage – one that offers brands top of the line exposure, and consumer engagement. While high rents demand a flagship-caliber strategy, the corridor’s consistent foot traffic, global appeal, and luxury clustering make it an essential address for top-tier retailers.

Market Metrics and Leasing Trends

Fifth Avenue maintains its position as the upscale shopping corridor in New York City, with luxury and flagship retailers driving long-term leasing commitments. Rental rates vary widely, from $450 to $2,500 per square foot, with the highest-priced spaces concentrated between 50th and 59th Street, where brands like Prada, Moncler, and Dolce & Gabbana dominate. National retailers and experiential brands tend to cluster south of 50th Street, where rents are more moderate.

Recent leasing trends highlight continued investment in flagship real estate, as seen with Kering, Prada, and Uniqlo purchasing properties outright, signaling long-term confidence in the corr