Height Still Comes With a Premium
September 21, 2011
By: Craig Karmin

A panoramic view is more than a pleasant diversion in Manhattan's urban jungle. For a white-shoe firm, it conveys power, prestige and success.

So it's not surprising that top office floors have always commanded top prices. But even since the financial crisis, and with fears rising of another economic slowdown, there remains a hefty premium paid for higher elevation.

High-end Midtown buildings currently rent office space on the 30th floor or higher for about $78 a square foot, according to commercial property broker Studley. That compares with just $58 a foot in these same buildings for floors one through ten, a nearly 35% premium. ...

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