In June 2017, the average asking rent in the Downtown market reached an all-time high of $62 per sq. ft., following the addition of 1.7 million square feet of space at 3 WTC.  This new peak—a 5% jump from the market’s previous high in January 2017—marks the latest in a steady increase in Downtown average asking rents that began in 2012, following a surge of available new product priced at the top of the market.