Well that's why they give the months of free rent. When they report the rent roll of the building they just list the monthly, and it's an automatic large effective rent increase built in for the day the initial term expires.
Yep. And the way the developers--on Bravo's Million-Dollar Listing--think, they not only want market price but also to set a new record for market price (per square foot).
Of course they want that; who wouldn't want more money for their business? But competition can drive the price down just like any other sector, and allowing for more housing to be built means more competition.
I'm not disagreeing. Not sure why the down vote.
I'm just saying that there is significant ego on the developer's side of things.