The Plaza District Coming Slowly Back
Robert Sammons of Cassidy Turley explains:
And the Plaza shall lead the way. What has historically been the submarket leader for office rents in Manhattan (and the U.S., for that matter) is once again showing its strength after a recession that hobbled it more severely than any other in midtown, due to its dependency on financial services firms. Not only has the average asking rent been climbing, but so has the effective rent (average per square foot paid over the lease term) for the 48.9 million-square-foot and 93-building Class A portion of this high-end submarket. Read More
