Future of Fifth Economic Impacts

BJH was proud to partner with the Future of Fifth Partnership, Arcadis, TYLin, Field Operations, Public Works Partners, and the NYC Economic Development Corporation to analyze the economic impacts of holiday programming on Midtown’s iconic Fifth Avenue. Our work highlights how public realm programming has shaped the corridor and provides a vision for a more accessible and vibrant Fifth Avenue.

BJH also worked with the Fifth Avenue Association to quantify the corridor’s contribution to the City’s tax base. Our analysis found that Fifth Avenue between 40th and 61st Streets generated $1.53 billion in office and retail property taxes in 2024, about 11 percent of the citywide total, despite holding just 6 percent of the City’s office and retail space. The study also found that Fifth Avenue retail workers earn the highest wages in the city, averaging $98,000 a year. Read more about the findings in the Commercial Observer feature.