During the last decade, the street in the prestigious neighborhood developed into a place hosting luxury retail shopping venues.

With a monthly lease price of about $3500 m², it is currently the most expensive street for retail stores in Turkey.

The street was renamed after Abdi İpekçi, the renowned journalist and the editor-in-chief of the major Turkish newspaper Milliyet.

İpekçi was murdered on February 1, 1979, in his car in front of his apartment residence in this street by Mehmet Ali Ağca, who later gained further notoriety for his failed assassination attempt on Pope John Paul II.

[2] Some of the many shops include: Open-air New Year's Eve welcome in the decorated street is newly becoming traditional as an alternative to the celebration at the more crowded Taksim Square.