Hong Kong’s Severn Road, a winding street of mansions and tony apartments, is still the priciest address on the planet.

For the second year running, Financial News has determined that properties on Severn Road cost more per square foot than those anywhere else.

Properties on Severn Road were valued at US$78,200 a square meter (about US$8,689 a square foot), up from US$70,000 in last year’s survey.

Hip boutique hotel chain Andaz opened its fifth property on Fifth Avenue on July 5, in the former headquarters of fashion chain Tommy Hilfiger.

The hotel is the third opening this year for rapidly-expanding Andaz, which says that it wants to make guests feel like they’ve been welcomed into a friend’s home, rather than a hotel.

Like other Andaz properties, the 184-room Andaz Fifth Avenue doesn’t feature a reception desk, instead preferring to check people in over a drink in the lounge or whilst walking to their room.

New York City’s famed 5th Avenue is no longer the most expensive street to lease a retail store According to a new report from Colliers International.

The average annual rent on Manhattan’s luxury shopping destination fell 10.7 percent from a year earlier to $1,250 a square foot as of March.

In first place now is the Avenue des Champs-Elysees in Paris with a two percent increase to $1,256 a square foot.

This Easter, Giorgio Armani’s 5th Avenue flagship will be selling Armani Dolci branded chocolate eggs for your most discerning friends and family.

The dark, milk, or white chocolate eggs come in two sizes, all stamped with a giant “A and come gift wrapped in a blue box tied with a fuchsia ribbon.

The chocolates are available at Armani’s flagship on 5th Avenue and can be shipped anywhere in the US through May.

Japanese retailer Takashimaya plans to close its New York flagship this June, according to Crainsnewyork.com.

Located at 693 Fifth Ave., between East 54th and East 55th streets, the store has been at the building, which the company owns and plans to sell, since 1993.

The multi-level store has shopping in categories including women’s and men’s clothing, jewelry, home decor and gifts and also has a floral boutique and spa.

Last year Louis Vuitton covered the entire façade of the Fifth Avenue Maison with Takashi Murakami’s iconic Monogram Multicolore print.

This year, the store façade display is inspired by the city stamp artwork that Ruben Toledo designed for the Louis Vuitton City Guides