Fifth Avenue

Image courtesy of the Fifth Avenue Association

December 6, 2023

Fifth Avenue’s sparkling snowflake is brighter than ever

Fifth Avenue's famous snowflake, a cherished New York City holiday fixture for 40 years, is back and brighter than ever. The Fifth Avenue Association and the Stonbely Family Foundation on Sunday celebrated the lighting of the refurbished snowflake, which features 16,500 sparkling crystals and new high-intensity full-color LED lights. The twinkling 30-foot-wide snowflake is suspended 50 feet above Fifth Avenue and 57th Street from four buildings: the Aman Hotel, Bergdorf Goodman, Bulgari, Louis Vuitton, and Tiffany & Co.
see more here

Events & Things To Do

Fifth Avenue to transform into car-free holiday wonderland

Photo by Josh Wilburne on Unsplash

November 15, 2023

Fifth Avenue to transform into car-free holiday wonderland

By Aaron Ginsburg

Attention revelers: the streets of Midtown will soon be filled with fun, pedestrian-friendly cheer. As part of a special holiday open street, Fifth Avenue will close to cars and transform into a winter wonderland on three Sundays in December. The Fifth Avenue Association on Tuesday revealed the "Gift of Fifth" campaign that will turn the historic corridor from 49th Street to 59th Street into a holiday destination, with jolly decor, festive food and beverages, photo-ops, store giveaways, and more.
DETAILS HERE

Events & Things To Do

NYC holiday open streets return to Fifth Avenue and Rockefeller Center

Photo by Kaydn Ito on Unsplash

November 7, 2023

NYC holiday open streets return to Fifth Avenue and Rockefeller Center

By Devin Gannon

Visiting Midtown during the holidays will be more festive and less stressful this year. Mayor Eric Adams on Monday announced plans to fully pedestrianize Fifth Avenue from 48th and 59th Streets on three Sundays in December, expanding the open street by three blocks to reach Central Park. Plus, certain streets around Rockefeller Center and Radio City Music Hall will be closed to cars every day throughout the holiday season, reducing crowds and making it safer for the hundreds of thousands of people visiting the iconic Christmas Tree, holiday window displays, and the Rockettes.
Details Here

Policy

Last year’s holiday open streets in Midtown drove $3M in spending at local businesses

Image courtesy of Violet Mendelsund/Mayoral Photo Office on Flickr

October 12, 2023

Last year’s holiday open streets in Midtown drove $3M in spending at local businesses

By Aaron Ginsburg

Banning cars on blocks around holiday hotspots in Midtown last year led to an additional $3 million in spending at businesses on the pedestrianized streets, according to a new report. Mayor Eric Adams this week announced the 2022 holiday-specific Open Street program, which opened 11 blocks to pedestrians during the busiest time of the year, created more foot traffic and led to an increase of 13.9 percent in transactions at local businesses along open streets. The study conducted by Mastercard found merchants on pedestrianized streets saw an average of $90,000 in additional spending per day. The success of the car-free holiday streets program laid the groundwork for a permanent redesign of Fifth Avenue, said Adams, who has selected a team for the design process.
READ MORE ABOUT THE FUTURE OF FIFTH AVE

Policy

NYC proposes pedestrian-friendly path on Fifth Avenue from Bryant Park to Central Park

Conceptual renderings from one proposal for a reimagined Fifth Avenue. Credit: Fifth Avenue Association

December 19, 2022

NYC proposes pedestrian-friendly path on Fifth Avenue from Bryant Park to Central Park

By Aaron Ginsburg

Mayor Eric Adams on Sunday released a plan that reimagines a stretch of Fifth Avenue from Bryant Park at 42nd Street to Central Park at 59th Street as a pedestrian-focused space that prioritizes safety, mass transit, and the public realm. This new vision of one of the world's most iconic tourist destinations and commercial districts is part of a broader plan to make the area more appealing to new residents and workers and builds upon the recent closure of Fifth Avenue this month for the holidays.
See the plan

Over 275,000 sign petition to rename stretch of Fifth Ave in front of Trump Tower after Obama

Via Flickr

August 15, 2019

Over 275,000 sign petition to rename stretch of Fifth Ave in front of Trump Tower after Obama

By Devin Gannon

An online petition to rename a stretch of Fifth Avenue in front of Trump Tower after former President Barack Obama has taken off in the last week, garnering over 275,000 signatures as of Thursday morning. The appeal, written by Elizabeth Rowin from Los Angeles, asks city officials to change the name of Fifth Avenue between 56th and 57th Avenues to "President Barack H. Obama Avenue."
A new address for Trump Tower?

Uncategorized

Thousands sign online petition to rename stretch of Fifth Ave in front of Trump Tower after Obama

Via Flickr

December 31, 2018

Thousands sign online petition to rename stretch of Fifth Ave in front of Trump Tower after Obama

By Devin Gannon

Over 3,800 people have signed a petition to rename the block in front of Trump Tower after President Barack Obama. Without specifically mentioning the Midtown building developed by President Donald Trump, the MoveOn.org appeal requests the City Council and Mayor Bill de Blasio rename the part of Fifth Avenue between 56th and 57th Street "President Barack H. Obama Avenue."
Get the details

Uncategorized

Fifth Avenue from the Metropolitan. Image: Wiki Commons.

September 19, 2017

How Fifth Avenue bigwigs kept New York City from getting a new address system

By Michelle Cohen

Finding addresses on most of Manhattan's streets and avenues is a pretty easy task in most places. Cross streets make sense thanks to the decimal system-based numbering that began in 1861, when each street block between two major avenues was assigned a set of 100 numbers. And we have this nifty algorithm for avenues, right? It all works...except when it doesn't. And we've spent centuries trying to tame the city into an easy equation. But there are always outliers–and we always wonder why. If you look on the address algorithm chart, Fifth Avenue doesn't fit easily into the "all" category. This is nothing new: According to The New York Times, in 1940 the Avenue of legend nixed a plan to renumber avenue addresses throughout the city because its wealthy business bigwigs didn't want to have to change their letterhead.
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History

April 5, 2017

Ralph Lauren closing flagship store amid Fifth Avenue slowdown

By Devin Gannon

Ralph Lauren announced Tuesday that it will close its flagship store on Fifth Avenue and 55th Street, citing falling revenue and rising rents. As reported by the New York Times, the company, which opened this location in 2014, plans to reorganize by investing more in their online stores. Keeping afloat a business on New York City’s most expensive shopping strip is not a problem unique to Ralph Lauren; Kenneth Cole, Juicy Couture, and H&M have also recently closed their doors. Soaring rents, plus a drop in tourism, has lead to an increase in vacant space along Fifth Avenue.
Find out more

Real Estate Trends

October 31, 2016

René Lalique’s windows saved this Fifth Avenue building from destruction in the 1980s

By Tracy A. Marciano

In 1984, a series of grime-covered windows at 714 Fifth Avenue caught the attention of an architectural historian by the name of Andrew Dolkart. Seemingly innocuous, and almost industrial in aesthetic—at least from afar—the glass panes would later become the foundation for a preservation victory.
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POLL: Is Fifth Avenue losing its luster amid soaring rents and empty storefronts?

By Dana Schulz

Fifth Avenue is known around the world as the high-end shopping address, but rising rents are leading to an increase in vacant space along the retail corridor. According to data from Cushman & Wakefield reported by Crain's, the availability rate spiked to 15.9 percent in the third quarter of this year, up 10 percent from the same time last year. On the stretch that has the world's highest rents, from 49th to 60th streets, retail space is listed at an average of $3,213 per square foot, up from $2,075 in 2011. To put this in perspective, current rents in Times Square are $2,104 per square foot after tripling over the past four years.
Do you think Fifth Avenue can get over the hump?

Real Estate Trends

FAO Schwarz To Close Flagship Fifth Avenue Store Ahead of Rising Rent

Image: Gary Burke via flickr.

May 18, 2015

FAO Schwarz To Close Flagship Fifth Avenue Store Ahead of Rising Rent

By Michelle Cohen

Beloved toy store FAO Schwarz has announced that it will shutter its midtown Manhattan store on July 15, citing rising rents, reports Bloomberg. Founded in 1862, the store, which is owned by toy chain Toys "R" Us, Inc., is the oldest toy store in the United States. The brand has long been known for its high-end dolls and life-sized stuffed animals and as the stuff of many a tiny tot's fantasies.
What does the future hold for the iconic toy store?

Real Estate Trends

July 24, 2014

Holly Hunter Sells Her Greenwich Village Apartment for $7.6 Million

By Aisha Carter

Academy Award-winning actress Holly Hunter has just sold her Greenwich Village apartment, according to city records. The thespian put her Fifth Avenue apartment on the market in February, asking $8.7 million. The final sale price was $7.6 million. The adorable home is situated high up in the 11-floor building at 43 Fifth Avenue, a 1905 Beaux Arts “masterpiece”. The apartment features restored original wood moldings and window trim. Additional touches include stained glass and a fireplace. There’s also a large kitchen with an abbey table capable of seating six. Three bedrooms and baths, along with two windowed offices and a parlor complete the beautiful place.
Find out more about the celebrity abode here

July 22, 2014

Stop the Presses: You Can Reside at the St. Regis for Only $389K. Well, Sort of…

By Stephanie Hoina

Here’s a great little twist on the New York City real estate market, courtesy of the recent trend to convert rooms in some of Manhattan’s most exclusive hotels into condominium apartments: fractional ownership—the timeshare to end all timeshares. That’s right, now you can savor the pleasure of residing at one of the most glamorous addresses in the world with all the amenities the St. Regis has to offer, including the Remede Spa and Fitness center, salon, twice daily maid service, and 24-hour butler service—all without having to shell out the multimillion dollar sums typically associated with this kind of elegant living.
See what fractional ownership puts within reach

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