im watching the bon appetit youtube channel and i can't stop thinking about how much their rent costs.
For Condé Nast, an anchor tenant, the annual rent for the 20th through 41st floors is a little more than $60 a square foot. Over the course of the 25-year lease, the publisher is expected to pay $2 billion in rent.jeez
$60/sqft is really cheap, actually. It's usually at least double or triple in NYC. Twenty floors must house thousands of employees.
Average rents in the area reached $116 per square foot, with the most expensive deals reaching as high as $185 per square foot. The high-end office market is strong with a record 2.5 million square feet of Manhattan office space leased at rents of $100 a square foot or more last year.Feb 7, 2018