$3,500: Per-Square-Foot Rent on Upper 5th Ave. NYC

The video discusses the high rents on New York's 5th Ave, making it the most expensive retail real estate globally. Microsoft plans to open a flagship store there, contributing to a 13% rent increase. New York has surpassed Hong Kong's Causeway Bay, where rents have dropped due to China's economic slowdown. Paris's Champs-Élysées ranks third in retail rent costs.

What impact did the slowdown in China have on rents?

Which location is mentioned as the third most expensive for retail rents?