Business is booming along Fifth Ave. in Midtown NYC but community is wary of Mamdani admins redesign plans

Fifth Avenue’s prime Midtown shopping stretch between East 40th and East 61st streets is the city’s no.1 generator of office and retail property taxes compared to any similar set of blocks — a whopping $1.53 billion every year, according to the Fifth Avenue Association business-improvement district.There’s lots of bricks-and-mortar energy on the avenue, too.

Rolex is poised to open its glam new tower at East 52nd Street with a flagship store at its base and LVMH is planning a 25-story tower with its own luxury emporium at East 57th Street.Some major global brands have so much faith in Fifth, they’re buying their stores’ buildings — such as Prada’s $835 million 2023 purchase of 720 and 724 Fifth.But a threat of uncertainty is barrelling down.The city will soon finalize plans for a $402 million “Future of Fifth” sidewalk and street redesign that will reduce auto traffic to a single lane and create sitting space — but not plazas — for shoppers and sightseers.The reconfiguration was devised by the city’s Economic Development Corporation under former Mayor Eric Adams but is subject to review by incumbent Mayor Zohran Mamdani’s EDC and the car-hating Department of Transportation.

Work is supposed to start in 2027.“We were behind the plan.We compromised with the city” over certain points, said Madelyn Wils, CEO of the Fifth Avenue Association BID.“We’ll see whether it holds in the new administration.”Although the plan currently doesn’t include a bike lane, multiple sources said the pro-bike lobbying group Transportation Alternatives is “pushing like crazy for a bike lane” — which most Fifth Avenue merchants oppose.The BID wasn’t thrilled about the additional bus lane, partly because, Wils said, “Many of the express buses on the avenue are less than 10% occupied.”However, she enthusiastically endorsed the sidewalk widening and landscaping because “retailers recognize that if pedestrians have a better experience, there...