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This week, a property housing three Bleecker Street storefronts—including Burberry and the incoming Michael Kors—sold for $34 million. The New York Daily News puts the sale into context: At $6,700 a square foot, it's Manhattan's third highest retail deal since 2003. Only spaces on Madison and Fifth Avenue have ever been able to command higher prices.
"The Meatpacking District and Soho can't compete with it anymore," retail broker Faith Hope Consolo told the paper. Neither can London's Bond Street or the Champs-Élysées in Paris—Bleecker Street's boutique rents outrank them both. At least the neighbors (well, the new ones) can afford to shop in all the expensive new stores: The NYDN reports that residential rents in the area are also the highest in the city.
· Fifth Ave., Madison Ave. ... and Bleecker St.? West Village corridor in blockbuster real estate deal [NYDN]
· Back-to-School Season Means Kors Registration on Bleecker [Racked NY]