• New York's Lower East Side Sees Rising Rents as Madison Avenue Crumbles

    6 days ago - By Hypebeast

    After months of coronavirus pandemic lockdown, Americans just want to shop. Or at least, they want to visit some storefronts. A new report from brokerage firm Cushman & Wakefield, as reported by Business of Fashion , reveals exactly where these customers are and aren't going by examining the fluctuating costs of retail rent prices. New York's businesses unsurprisingly still have it quite hard , with many big retailers and restaurants skipping out on pricey rent or simply folding altogether. Madison Avenue, the city's famous luxury shopping destination, has seen a massive 52% decline from...
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