Commercial space a bargain in New York City

London retains #1 ranking as most expensive office leasing location
Published on Apr 1, 2004

New York is a bargain for office space when compared to its international competitors, according to the latest survey of occupancy costs (rents, taxes, and utility costs) around the globe from Cushman & Wakefield, one of the largest privately held commercial real estate firm in the world. New York ranked fourth on the list in "Business Space Across The World," which is published by Cushman & Wakefield. London ($164.70 per square foot), Paris ($105.78) and Tokyo ($91.33) were the three most expensive. "New York is highly competitive on the global stage, which makes it a great place to do business for international companies," said Bruce Mosler, president, U.S. Operations, C&W. London has retained its position as the world's most expensive city for office space in this year's survey. The total cost of occupying one square foot of prime office space in London's Mayfair district is 55 percent more than in Paris, which overtakes Tokyo this year to finish in second place, p...

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