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We all know that residential coops and condos with park-facing views command a premium in New York City, but in an article yesterday in the Wall Street Journal, they examined a CBRE study that office rents for spaces on parks lease at significant higher levels that other nearby properties.

From the article: “The area around Madison Square Park has seen a more recent turnaround, and asking rents directly on the park are 54% higher than similar buildings a block away“.

Of course in recent years, companies like Grey Group, Tiffany & Co, Vera Wang, and others have scooped up office space with Madison Square Park views.

Here is the full article:

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