Record price for lower Manhattan office building. Deutsche Bank agreed to sell its North American headquarters at 60 Wall St. in New York to German billionaire mail-order retailer Michael Otto, for $1.18 billion. The 1.6 million-sf tower sold for $732/foot, a record for lower Manhattan, according to Real Capital Analytics. The bank will remain in the building for the next 15 years under a lease agreement reached with the owners. Lower Manhattan office rents are surging as the area recovers from the Sept. 11 terrorist attacks. Rents averaged a record $52.86/sf in Q1, up 43% in a year, while the vacancy rate fell 36% to 7.6%, according to Grubb & Ellis.
