300 Park Avenue in Midtown Manhattan office leasing activity in November was considerably lower than its five-year monthly average, according to commercial brokerage CBRE’s monthly market report. On the other hand, average asking rents in Manhattan topped $71 per square foot for the first time since the global financial crisis. Leasing activity totaled 1.76 million square feet in November – 21 percent below the five-year average of 2.2 million square feet. Office availability in Manhattan, while slightly up from October, remained “virtually unchanged” from November of last year. (more…)
Source: The Real Deal
