Governor Andrew Cuomo’s ambitious Empire Station Complex redevelopment was met with controversy from the get-go, and now, the project has been put on hold after heavy opposition from the local community. The constant debate surrounding the $1.6 billion master plan […]Read more
In early January of this year, New York City celebrated Moynihan Train Hall’s grand opening in Midtown Manhattan. The Moynihan Train Hall is a 486,000-square-foot expansion of Manhattan’s Penn Station, the central intercity railroad station in New York. Penn Station […]Read more
The U.S. office market took a significant hit during the pandemic, with most companies switching to a fully remote or hybrid workstyle. Manhattan, as one of the densest business districts globally, was heavily affected by this switch, and as a […]Read more
The coronavirus pandemic came down on New York City commercial real estate like a sledgehammer, and the retail and hospitality sectors took the biggest hit. The city’s once-bustling restaurant scene has changed dramatically, with numerous establishments closing their doors, either […]Read more
The Covid19 pandemic will undoubtedly significantly impact the way we live, work, and play. It has already caused a fundamental change in how we look at and use office spaces, and it’s clear that there is no way back to […]Read more
The Covid19 pandemic has had a massive impact on commercial real estate sectors, from office space and retail to hospitality and multifamily. However, one industry of NYC commercial real estate seems to be thriving, even amid a global pandemic. That […]Read more
The January 28 short squeeze of GameStop stock sent the U.S. stock market into a frenzy unseen since the financial crisis of 2008. When Reddit users decided to join forces to raise GameStop’s value, a Texas-based retailer that had been […]Read more
Although the Covid19 pandemic has heavily hit New York City, local authorities have made significant progress on major infrastructure projects. The year started strong with the January opening of the $1.6 billion Moynihan Train Hall at Pennsylvania Station. Located within […]Read more
The Covid19 pandemic has heavily impacted the NYC commercial real estate market, and as usual, things are likely to worsen before they get better.
Last year, Moody released projections that show the national commercial vacancy rate will reach 19.9$ in […]Read more
A $1.6 billion, 255,000-square-foot expansion of the Penn Station train tracks officially opened to the public on January 1st, 2021. The new Moynihan Train Hall, named after the late Senator Patrick Moynihan, is a significant improvement to Midtown Manhattan’s transportation […]Read more
The new coronavirus has greatly impacted New York City real estate. It’s going to take a long time for the city to bounce back fully. Things might never go back to their pre-pandemic state. But the emergence and approval of […]Read more
The New York City commercial real estate market took quite a hit in 2020. Total office sales dropped 58% during this spring’s lockdown, while retail sales sank a whopping 78%. Brooks Brothers, J.Crew, and other major retailers filed for bankruptcy, […]Read more
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