NYC Real Estate Blog | Metro Manhattan Blog
One Vanderbilt, Crown Jewel of Midtown East, Officially Opens in NYC
On an unusually quiet NYC morning on September 14, city officials gathered at One Vanderbilt Avenue to mark the official opening of Midtown East’s newest skyscraper. Mayor Bill de Blasio was joined by representatives from SL Green, Hines, and the ...
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The Risks and Rewards of Subleasing Office Space in NYC During a Pandemic
In a recent interview with Institutional Investor, Michael Colacino, president of NYC-based SquareFoot, said that after 9/11, sublease rates in the city doubled, going from 20% to 40-45%. A similar phenomenon took place after the financial crisis of 2008, as ...
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The Downfall of the MTA and Its Impact on the NYC Real Estate Market
The NYC Metropolitan Transit Authority (MTA) is currently facing its biggest challenge yet. The impact of the Covid-19 pandemic and the subsequent lockdown has thrown New York City’s public transportation system into an unprecedented crisis. The MTA has never had ...
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The Top 20 NYC Office Deals of H1 2020 – Amazon Bets $978M on Manhattan
Over the past few months, New York City commercial real estate has gone through a whirlwind of changes, some of them permanent. The coronavirus has solidified remote work as a feasible and productive way of working, and many companies will ...
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Despite Legal Troubles and Lockdowns, is WeWork On Track for Profitability?
A little over a month after DBRS Morningstar declared that WeWork’s survival following the pandemic was ‘questionable,’ chairman Marcelo Claure says the coworking provider is on track to be profitable in 2021. In a recent interview with the Financial Times, ...
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Report: Retail Sales Activity Drops 78% During NYC Lockdown
The New York City retail market took a hard hit as the pandemic spread across the city. The almost three-month economic lockdown took many out of business, including big names like Barneys New York and Brooks Brothers, which filed for ...
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Report: New York City Office Sales Drop 58% During Lockdown
Office towers in the New York City commercial real estate market sell at exorbitant price tags, and investors from around the world are willing to shell out hundreds of millions – and sometimes even billions – to own trophy office ...
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Brooks Brothers Files for Chapter 11 Bankruptcy Protection
The latest brand to succumb to the pandemic’s effects is Brooks Brothers, which filed for Chapter 11 bankruptcy protection in a Delaware court last week. The upscale men’s clothing chain is the oldest in the U.S., founded 202 years ago as a ...
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Why Investing in Commercial REITs Is a Good Idea Right Now
The coronavirus has had a terrible impact on the retail sector and hospitality and tourism. But these aren't the only industries that have suffered. The commercial property industry also took a toll during these past few months. According to recent ...
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Working in an Office Will Look Very Different Post-Pandemic
There's no doubt that the COVID-19 pandemic has triggered a shift in the world order, leaving a permanent mark on every aspect of our lives. The new coronavirus has already changed how we relate to and communicate with each other, ...
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Could Office Tenants Save a Struggling Retail Sector?
The COVID-19 pandemic is already having a massive impact on the global economy. In just a few months, most industries have been affected, with the retail and restaurant sectors taking the biggest hit. The New York City lockdown put the ...
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Remote Work is Here to Stay, But How Will It Impact the NYC Office Market?
The spread of the new coronavirus has already had a massive impact on the global economy and has forever changed the way we work and do business. In an attempt to stop the spread of the virus, non-essential activities closed ...
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