Downtown Manhattan Now Among World’s Priciest Office Markets

For the first time ever, downtown Manhattan made a semi-annual ranking of the most expensive office markets in the world. Brokerage CB Richard Ellis‘ ranking put downtown at 48 among the 50 most expensive markets, with an average occupancy cost for office space of $41.99 a square foot.

Midtown, as it often does, ranked high. The city’s leading office submarket came in at number 24 in the world, with office occupancy costs of $62.07 a foot.

The Earth’s priciest place to occupy office space? London’s West End, where costs can run as high as $212.03 a square foot.

– Tom Acitelli