Property News · April 4, 2017

Office rents in New York City hit record highs


The average rent being asked by landlords for office leases hit a record high in Manhattan in the first quarter as historically low unemployment fueled the jobs market and leasing activity was above average, brokerage Colliers International said on Monday.
Asking rents rose to US$73.92 a square foot in the first quarter from US$72.24 a square foot in the last quarter of 2016, the brokerage said.
The asking rents for a revitalised downtown set new highs, as did the technology-rich sector of…

Source : South China Morning Post
Read more…Office rents in New York City hit record highs

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