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Upper Fifth Avenue rents stagnate while availabilities rise gradually

  • Asking rents for ground floor space in the upper portion of Fifth Avenue (extending from 49th Street to 60th Street) were $2,494 per square foot in the fourth quarter of 2017, down from $2,710 per square foot in Q4 2016.

  • There has been a marked increase in availabilities; the current availability rate of 24.3% represents a 7.2 percentage point increase year-over-year.

  • News outlets have mentioned ongoing activity around Trump Tower, located at the corner of 56th St, as a potential source of dismay for retailers located in the immediate vicinity.​

Source: JLL Research

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