How Far We've Fallen: Good Midtown Office Space for Rent Directly at $37 a Square Foot

Thirty-seven dollars will buy you 24 grasshopper cupcakes from Crumbs Bake Shop, or it will buy you one square foot of office space for a year in a nice building on Third Avenue in midtown Manhattan.

Thirty-seven dollars a foot. That is how much, on average, Guidepoint Global, an independent research company, will pay for seven years annually for each of the 30,000 square feet it recently leased on the eleventh floor of TIAA-CREF's...

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