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New York City New York City

NEW YORK CITY—“In my 20 years of tracking NYC real estate, I never thought I’d be saying Midtown South rents are the highest in the nation but it did happen in 2018,” said Rich Persichetti, VP, tri-state region research lead at Cushman & Wakefield. At $95.80 per square foot, they were almost 17% higher than in Midtown. However, he clarified that the building stock in Midtown is eight times greater than in Midtown South. Persichetti pointed to the high demand, lack of available supply and newly built construction projects bearing triple digit rents for boosting the district’s statistical average.

Betsy Kim

Betsy Kim is the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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