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NYC shoppers shun Madison Avenue as swanky boutiques depart

NYC shoppers shun Madison Avenue as swanky boutiques depart
bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.

New York Shoppers Shun Madison Avenue as Swanky Boutiques Depart

New York Shoppers Shun Madison Avenue as Swanky Boutiques Depart
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NYC shoppers shunning Madison Avenue as swanky boutiques depart

NYC shoppers shunning Madison Avenue as swanky boutiques depart
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Fifth Avenue Landlords Are Owed About $200 Million In Unpaid Rent

by Tyler Durden Tuesday, Apr 06, 2021 - 11:31 AM Among the hardest hit by Covid were retail businesses across the country, including in once-coveted, well known shopping areas like New York City s Fifth Avenue. What used to be a shoppers paradise has now simply turned into a battleground between landlords and tenants seeking a way out of pricey leases , Bloomberg reported this week. In addition to a huge drop off in tourists, shops have also been hard hit by a lack of working citizens passing by to and from their daily commute to work.  Well known tenants like the National Basketball Association, Valentino and Marc Fisher are all in the midst of legal battles over unpaid rent. Landlords along a 20 block radius of Fifth Avenue, in sum, are owned about $200 million. 

Manhattan s Fifth Avenue Mired in $200M Retail Rent Fight

Manhattan s Fifth Avenue Mired in $200M Retail Rent Fight
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