NYC rents reign supreme in 2014
January 15, 2014

Jones Day

North, south, east and west, Manhattan’s commercial properties are flexing their muscles and commanding brawny prices...

Observed Steve Witkoff of the Witkoff Group, “Conditions are good, and the city is in a good place.”

Downtown is expected to be the focus of more leasing as tenants seek value and marvel at the reinvention of the area’s transportation...

Across West Street, a Studley team represented Jones Day in making the leap to 330,000 square feet at 250 Vesey St. at Brookfield Place...

Last fall, together with colleagues Frank Doyle and Benjamin Bass, Konsker completed a high-end deal with Lakewood Capital Management at 650 Madison Ave. The 7,500-square-foot lease was inked at “north” of $150 per foot, a high for the building that had just been purchased for $1.29 billion by Vornado Realty Trust, Oxford Properties Group, Highgate Holdings and Crown Acquisitions. Evan Margolin from Studley represented the tenant in the move, which “shows the strength of the high-end market,” said Konsker. “It is very vibrant.”

NYC rents reign supreme in 2014

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