A 1984 New York Times Article on the New York Office Condominium Market
This article from December 1984 highlights the construction of 55 East 59th Street, also known as Delmonico Plaza. The original asking prices were approximately $350/RSF. Recent sales have ranged from $700/RSF – $1,000/RSF. The article also mentions a number of the other commercial condominium and co-op conversions that occurred in the 1980s. The average pricing of those buildings were around $100/RSF. Many of the properties listed, like 425 East 61st Street, 377 Broadway, 666 Broadway and 121 Varick now sell for over $700/RSF.
