Gothamist: Midtown Office Tower Tenants "Rushing to Break" Leases

NannyState

Mon, 10 Nov 2008 23:24:54 -0500

^ Exactly. It's per year but it doesn't tell the whole story. Many commercial landlords will adjust lease terms depending on the markets, the quality of the tennant, and other variables. To entice a blue chip tennant, they also throw in the build-out costs, or lower the break up fee. In the end, these companies are testing the Midtown market and they might just find out that there are other firms out there that want prime space. It's not over just yet.

matty

Mon, 10 Nov 2008 10:09:22 -0500

It's per year chunk. Multiply $PSFxSF/12 and that's your monthly net rent.

chunk

Mon, 10 Nov 2008 10:06:46 -0500

When quoting commercial real estate rental prices, is the price per square foot per month? Year? Or what?

Tgirl

Mon, 10 Nov 2008 09:30:39 -0500

"POP"!