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Manhattan’s Fifth Avenue Mired in $200 Million Retail Rent Fight

A few giant deals remain in gridlock and reduced demand has forced landlords to cut prices, signalling further obstacles to the shopping strip’s recovery.
Tiffany & Co. Fifth Avenue Store. Shutterstock.
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BoF PROFESSIONAL

Not long ago, major fashion brands were willing to pay ballooning rents just to have a store on Manhattan’s Fifth Avenue. Now the world-famous shopping strip has transformed into a battleground between landlords and tenants seeking a way out of pricey leases.

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