From left: A rendering of the Zara store at 503 Broadway in Soho and Hermes at 691 Madison Avenue Foreign buyers have famously made waves in the luxury condominium and investment sales markets, but it turns out their impact on high-end retail has been just as significant. Brands based abroad operate 39 percent of the stores on Fifth and Madison Avenues, and in Soho, according to a new study by Cushman & Wakefield. The report, which looked at 906 retailers, found Soho to be the most nationally-diverse area, with 24 countries represented. (more…)
Source: The Real Deal
