Death of a Stat: The Unbearable Lightness of Average Asking Rents

Colliers ABR is out this morning with a report covering the Manhattan office market in December, and the statistics are predictably grim: Perhaps the most jarring is that the average asking rent for midtown Class A office space dropped an unprecedented 7.2 percent in a single month to $82.11 a square foot.

But what's it mean to have asking rents--as opposed to actual taking rents--drop in a given period in today's dismal Manhattan office market? My colleague Dana Rubinstein wrote last month about the pitfalls of trusting overall asking rent numbers these days, whatever the source:  read more »

Copyright Obser - Observer
Contact Us