Open-plan office spaces command big rents
December 14, 2011
By: Staff

Airy, open-plan office spaces, once seen as difficult to rent, are commanding some of the highest office rents in Manhattan since the recession, the New York Times reported, some more than $100 a square foot. These spaces, with dramatic city views, can be found in Midtown towers like 499 Park Avenue and 250 West 55th Street, the Times said, as well as downtown at 1 and 3 World Trade Center, now under construction. ...

... Meanwhile, despite an increase in demand, landlords who inked major leases in Class A buildings like 499 Park Avenue last year made practically no money on those deals once basic expenses were subtracted, a recent report from commercial advisory firm Studley showed previously. ...

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