More high-end office space in Manhattan is getting $100 per square foot, says a new CBRE report.
"Top quality assets—including new or renovated buildings with abundant amenities, modern building systems and easy access to public transportation—have demanded triple digit rents during the pandemic," CBRE is asserting.
The total square footage in Manhattan's $100 market is still below pre-pandemic levels on a deal count basis, the firm conceded but it pointed out the number of $100 deals was up 114% from 2020 and 18% above the five-year historical average.
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