Deal-sweeteners at an all-time high despite roaring Manhattan office leasing

Manhattan’s red-hot office leasing is giving landlords reason to smile, though they may still grimace at the expense it takes to lure new tenants. Tenant incentive packages — the payouts building owners offer companies as deal-sweeteners to build out their office spaces — are at an all-time high, despite landlords gaining more leverage in a tightening market. The average Manhattan work-value package crested above $90 per square foot in the first half of the year, according to CompStak. That’s the highest it’s ever been, and the growth is accelerating. Work allowances jumped nearly 30 percent to about $86 per square […]

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