In a benchmark of success that Manhattan office building owners are hoping will herald a "trickle-down" recovery, the exclusive club of office towers that charge rents in excess of $100 per SF now encompasses 80 buildings, up from last-year's record of 77.
Manhattan office tenants signed 192 leases in 2023 with starting rents of $100 or more, amounting to 5.6M SF, equal to 26% of overall leasing in the borough last year, according to JLL's Year-End 2023 report.
The leaderboard of office landlords who attracted the most premium rent-paying tenants was topped by Vornado Realty, which inked 14 top-dollar deals encompassing 1.2M SF; The Related Companies, with 15 deals encompassing 940K SF; and SL Green, with 21 deals encompassing 800K SF.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
