FiDi has the best mid-year rental rates since 2000

The landlords of FiDi are celebrating the largest leases in the middle of the year since 2000, according to new CBRE data reported by the New York City Downtown Alliance.

Among the highlights:

  • 23% of total lease volume in the second quarter included moves from Uptown to FiDi, including four major relocations from Midtown South.
  • Most of the lease involved two giant deals at 55 Water St., including the move of Justworks from the Starrett Lehigh building to an area of ​​25,000 square feet at 55 Water Street.
  • Overall, asking rents rose slightly by 0.2% to $ 63.40 per square foot, according to Cushman & Wakefield. The $ 76.56 above Midtown average was one of the reasons for the downtown boom.
  • The increase in office space in the city center was accompanied by an impressive increase in tourism, the creation of new apartments and major restaurant openings such as Crown Shy and The Fulton.

Leave a Reply

Your email address will not be published. Required fields are marked *