This is our first in a series of market-at-a-glance snap shots of market dynamics that are turning the tide.
Did you know that Seaport District Class B overall asking rents have risen 29% from their most recent trough as compared with only 16% forthe Class B maket in the Financial District?
Furthermore, Class B asking rents in the Seaport were up almost $4.00 per square foot quarter-over-quarter, while Financial District rents were down about 40 cents per square foot over the same period.
While these overall numbers show Class B Seaport District rents still lagging those in the Financial District, our look at a competitive subset of buildings in the Seaport shows rents at about $36.50 per square foot. The gap is closing.
