Commercial real estate markets experience boom and bust cycles and confront an always-changing world. Businesses always prioritize cutting costs and increasing profits; innovation trends and cutting-edge technologies drive these objectives. Recently, there has been considerable press coverage around ChatGPT, the […]Read more
When we put together a similar type of year-end piece at the end of 2021, reflecting on the year that was and foreseeing the year to come, we mentioned challenging times. A year ago, our biggest fear was Omicron. This […]Read more
As 2022 comes to a close, falling from grace continues to be a consistent theme in the business world.
Perhaps it makes sense, considering we’re on the brink of a recession. But some of the scopes and scales of the […]Read more
New York City’s office occupancy rate recently hit a post-pandemic high of 47%, exceeding that of cities like Philadelphia, Boston, Chicago, San Francisco, and Los Angeles.
By the start of next year, this figure could top 50%.
Yet there are […]Read more
As in-person work returns to neighborhoods like Midtown, the Plaza District, Flatiron, Meatpacking District, and Soho, an exciting trend emerges in New York City commercial real estate. The red hot luxury retail sector.
Retailers like Givenchy, Hermès, and Gucci have […]Read more
If you rent a commercial office space in Manhattan, your lease will have an escalation clause.
In an escalation clause, your rent increases annually. The landlord’s only option is to recoup rising building services, personnel, energy, and building maintenance costs […]Read more
There are many hidden charges that tenants have to worry about when leasing office space in New York City.These can range from trash removal, HVAC-related charges, a business improvement district tax, and more.
Yet one of the most overlooked of […]Read more
Upscale amenities are becoming the norm in high-end New York City office space. Whether it’s Legos, slides, fitness centers, or rooftop gardens, many properties look more like college campuses than office buildings nowadays.
Source: Snap Suites
Why? Commercial landlords have […]Read more
No matter how anyone tries to spin it, we are already in a recession. The U.S. GDP shrunk in Q2 by -0.9%, marking the second consecutive quarter it contracted. That isn’t just an “indication” of a potential recession- it’s the […]Read more
Commercial landlords were forced to adjust their business models not long after the pandemic first hit New York City. The situation forced people to improvise and create work-from-home offices in the blink of an eye. The result was a high […]Read more
“New York City is dead forever.”
A hedge fund manager and comedy club owner named James Altucher wrote this piece mid-pandemic in August 2020. At the time, the blog was nothing more than a self-published vent session. Once the New […]Read more
Manhattan landlords in 2022 are facing the challenge of attracting workers back to the office. In a world where flexibility has become the norm, convincing people that it’s still worth coming to the office is no easy task, especially in […]Read more