Little commercial activity makes pricing difficult

The price per square foot of commercial space is difficult to determine because there haven’t been many large transactions during the downturn, but some anonymous brokers have estimated the value of Class A space in the city. Brokers said the office portion of 1540 Broadway will sell for between $400 and $425 per square foot, and at Worldwide Plaza, the 1.7 million square feet will probably sell for about $300 per square foot. A high-end building that is fully leased, has a stable cash flow and has had no recent turnovers could sell for $1,000 per square foot, brokers said.