Some retail space going for over $2,500 a foot

Some retail space in Manhattan is now going for more than $2,500 a square foot. Earlier this month, for instance, the UJA-Federation of New York sold to real estate holding company Ponte Gadea a 38,000-square-foot retail condo in its headquarters on East 59th Street for $107.5 million or, more than $2,820 a square foot. The space has been leased to Gap Incorporated. more [Sun]