Mark McNamee, chief executive of the Princes Dock Development Company, recently managed to secure a £15 per square foot rent for a waterfront office, the first speculative new-build office accommodation in the city for 25 years, he says.
In Manhattan, the average retail rents have gone from $103 to $153 per square foot rent is 34percentt higher than it was ten years ago, according to the Real Estate Board of New York (REBNY).
That contrasts with the $68 per square foot rents of Midtown South, which runs from about Canal Street to 42nd Street, the report said.
At $36 per square foot, rents for one-bedrooms, for example, which are to range from 700 to 1,100 square feet, would be from $2,100 to $3,300 a month.
Mr. Greenberg said that at $30 a square foot, rents in the central business district of White Plains are increasingly looking attractive to many growing companies that cannot afford to expand elsewhere.
In addition to the tax and business incentives, rents will be $3 to $5 a square foot lower than the $15 to $20 a square foot rents in Monmouth County, he said, adding that negotiations are under way with a telecommunications company for 100,000 square feet.
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"Furniture retailers can't afford to pay a significant per-square-foot rent," said Joanne Podell, a vice president at New Spectrum Realty, who represented Ethan Allen in the deal.
The source of the problem that forced the Boeing 737-300 used on the Southwest Airlines flight 812 from Phoenix to Sacramento to make an emergency landing on April 1st, following a five-foot rent appearing in the upper-fuselage skin, has flummoxed engineers and safety officials alike.The plane was not particularly old (15 years) but had been heavily used, accumulating nearly 40,000 flight cycles.
Retail tenants include a spinning studio, a bookstore, a Thai restaurant and a home goods store, Mr. Di Rita said, while the apartments — mostly one-bedrooms around 600 square feet — rent for "just south of $1,000 a month".
At this very moment, he lives in a 275-square-foot rent-stabilized studio apartment in a frumpy building on the Upper West Side.
