Market for high-priced skyscrapers grows, WSJ reports

theflyonthewall.com

The office market is seeing a number of high-priced skyscraper sales, as cheap debt and the hunt for yield lead investors to pile money into tall towers, particularly in New York, reports the Wall Street Journal. This year, there have been three deals that topped $1B, all in Manhattan, moving past record values for price per square foot set during the boom years, according to Real Capital Analytics LLC.

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