Postings: $100 Per Sq. Ft. Or Bust
Jotham Sederstrom Jan. 31, 2012, 3:40 p.m.
While a far cry from a peak in 2007, the number of office transactions that crossed the $100-per-square-foot threshold in Manhattan last year—a whopping 56—was three times that of 2010, when only 19 such deals were tallied in the borough. The number of leases signed for office space in the $80-to-$99 range, meanwhile, also saw traction, with 46 transactions in 2011 compared with 26 in 2010. Cynthia Wasserberger of Jones Lang LaSalle shared her insights with The Commercial Observer from the firm’s latest monthly report, and the findings may surprise you.