NYC real estate
fromtherealdeal.com
2 weeks agoStefan Soloviev sets a Manhattan office rent benchmark
Manhattan's office market sees record rent of $327.50 per square foot, reflecting elite tenants' willingness to pay for premium spaces.
Unsurprisingly, financial firms, as well as tech, media, and advertising companies, are driving the surge with major deals. In April, Deloitte signed a lease with Hudson Yards for 800,000 square feet of a 717-foot tower still under construction. Amazon is expanding its NYC office presence, too. In 2020, the tech giant bought the historic Lord & Taylor building. This year, the company bought a building at 522 Fifth Ave.