Pennsylvania Avenue Named One of America’s Most Expensive Streets
DC’s Pennsylvania Avenue has been named one of the “most expensive streets” across the US, coming in at No. 6 on JLL’s latest biennial study of priciest streets in the country.
The 10 streets on the list were ranked according to rent costs per SF. Average office rents on Pennsylvania Avenue are an eye-popping 99% higher than average office rents in the overall DC region.
“Pennsylvania Avenue is an iconic, internationally recognized address that evokes prestige and prominence. It’s a symbol of power and influence and literally the connection between the White House and Capitol Hill,” JLL managing director Amy Bowers said in a statement.
Pennsylvania Avenue comes in behind other iconic thoroughfares like New York’s Fifth Avenue, which came in at No. 3 and Fairfield County’s Greenwich Avenue, which took down the No. 4 spot. Topping the list for the third consecutive time is Sand Hill Road on the San Francisco Peninsula. Dubbed “the Wall Street of the West,” average rent for 2015 is $141.60/SF, which has risen more than 27% over the past two years. [JLL]
