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New York

Plaza district notches record office rents

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The Plaza commercial district, the largest class A submarket in Manhattan, notched a record average asking rent in May with $75.94 a square foot. That’s a 5.7 percent increase over April, according to a new report from brokerage Colliers ABR. May, in general, was good to the Manhattan commercial market, especially if you’re a landlord or a landlord’s representative. more By Tom Acitelli