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San Francisco Skyscraper Values Soar as Tech Lifts Rents

Offices on the highest floors of skyscrapers in San Francisco and New York soared in value since March, boosted by growing technology and energy businesses, Knight Frank LLP said.

The upper floors of office towers, which command the highest rent, are valued at $2,260 a square foot in San Francisco, a gain of more than 60 percent from March, according to an index compiled by the London-based property broker. In Manhattan, values have climbed 25 percent to $2,980. At the same time, slowing Chinese growth caused prices to fall in Singapore and Hong Kong, though the latter remains the most expensive at $6,330, Knight Frank said in a report today.