New York’s Upper 5th Avenue named 2nd most expensive shopping street in the world

New York’s Upper 5th Avenue came second on the 30th annual list of most expensive retail streets in the world, published by real estate company Cushman & Wakefield. The fancy avenue was dethroned by Hong Kong’s Causeway Bay, which didn’t top the list since 2012. Causeway Bay retailers pay an average of 2671 US dollars per square foot a year in rent -- that’s 421 dollars more than your average Upper 5th Avenue location.