Two years after the Department of Buildings tried to ban them, office building rooftops and terraces — today’s hottest tenant amenities — are multiplying with a vengeance.
The great outdoors is the new frontier in Manhattan office-building design. Developers are including alfresco terraces and roof spaces in just about every new project, while owners of older properties are spinning them out of thin air.
Relatively cheap to install, the outdoor spaces are what many tenants want most, says CBRE Vice Chairman Howard Fiddle. Floors with terraces now command a 14% premium over non-terrace floors — with average taking rents of $105.35 a square foot clobbering taking rents of $92.34 in buildings surveyed by CBRE.
...moreRSK: Not just in New York but here in Madison and every where.
Ken Notes: WOW $105.35...
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- - Volume: 7 - WEEK: 42 Date: 10/15/2019 6:42:36 AM -