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The "most expensive street in the world" moniker changes depending on currency fluctuations and local economic conditions from year to year. For several years starting in the mid-1990s, the shopping district between 49th and 57th Streets was ranked as having the world's most expensive retail spaces on a cost per square foot basis. In 2008, Forbes magazine ranked Fifth Avenue as being the most expensive street in the world. Some of the most coveted real estate on Fifth Avenue are the penthouses perched atop the buildings.

The American Planning Association (APA) compiled a list of "2012 Great Places in America" and declared Fifth Avenue to be one of the greatest streets to visit in America. This historic street has many world-renowned museums, businesses and stores, parks, luxury apartments, and historical landmarks that are reminiscent of its history and vision for the future. In 2018 portions of Fifth Avenue had been large numbers of vacant store fronts for long periods, part of a city wide trend of vacant store fronts attributed to high rental costs

https://www.nytimes.com/interactive/2018/09/06/nyregion/nyc-storefront-vacancy.html