Manhattan office rents rose to the highest in more than four years, helped by small firms signing pricier leases, Cushman & Wakefield Inc. reported.
Asking rents averaged $61.81 a square foot at the end of June, up 5 percent from a year earlier and the first time since May 2009 that the average exceeded $60, the brokerage said in a statement. There have been 36 deals for more than $100 a square foot this year, compared with 35 for all of 2012. Smaller financial companies and foreign banks were behind the surge, said Melissa Bazar, an executive director at the brokerage.
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