Property News · July 4, 2017

Lower Manhattan office rents peak as revived downtown booms


Asking rents for office space in downtown New York hit a record high in May as construction of a new tower at the World Trade Center and the migration of firms to a revitalised Lower Manhattan helped lift rental rates, brokerage CBRE Group Inc said.
The average rent landlords are seeking in downtown climbed to $62 a square foot last month when the addition of 1.7 million sq ft at 3 World Trade Center is added to the office space available for lease, the brokerage said.
Since January 2011, 393…

Source : South China Morning Post
Read more…Lower Manhattan office rents peak as revived downtown booms

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