Trophy asking rents down

Average asking rents at commercial trophy buildings have declined 6.2
percent, according to Jones Lang LaSalle’s 2008 Skyline Review. At
these buildings, including 9 West 57th Street, the GM Building and 7
World Trade Center, average asking rents have dropped to $102.85 from $109.61
per
square foot. The overall Class A office market, of which the trophy
towers are a subset, has also seen a drop in average asking rents to
$83.10 from $84.72, between the end of October and the end of November.