Sunday, January 24, 2010

How Expensive IS Expensive? Office Edition

From: The Real Deal via Crain's

Brazil's Banco Itau has signed a 15-year lease for 25,000 square feet on the top floor at the General Motors Building, at 767 Fifth Avenue, between 58th and 59th streets. The lease will take up approximately half a floor.

With a rate of more than $130 per square foot, the lease marks the city's most expensive deal of the year, Crain's reported. The GM tower is one of a scant few in the city that still rakes in more than $100 per square foot. Others include the Lever House at 390 Park Avenue and the Seagram Building at 375 Park Avenue.

(As well as 9 W. 57th Street, says Crain's)

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