A Recession’s Impact on NYC Commercial Real Estate
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 ...
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New York’s Best Office Rentals With Sweeping Central Park Views
The Manhattan office space landscape is living through an era of "amenitized" Modern Class A buildings. Many public corporations, hedge funds, large financial services firms, and tech companies crave space in this asset class to induce their employees to willingly ...
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Q2 Leasing Numbers Show Promise for NYC’s Office Market
New York City’s office market is finally showing clear signs of recovery, at least according to the most recent second-quarter reports released by brokerages. Workers are slowly returning to the office, while leasing activity is picking up steam and average ...
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What Does Amazon Go Mean for Retail?
The retail industry underwent a sea change during the pandemic. Many local retail businesses had to close their doors due to competition from online retail giants, such as Amazon. Ironically, the retail automation technology developed by Amazon to drive its ...
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Commercial Real Estate Prospects for 2022
2021 has been another challenging year for New Yorkers and everyone else in the world, for that matter. There is some anxiety about what's in store for 2022, and it's difficult to provide clarity regarding prospects for the new year. ...
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NYC Offices Lost $28.6 Billion in Value. What Does That Mean for NYC & Its Commercial Tenants?
For the first time since 2000, the market value of New York City commercial real estate has declined. It dropped $28.6 billion in the last year. This figure comes courtesy of a report from City Comptroller Thomas DiNapoli. A financial ...
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Office Space Availability in Manhattan Hits Highest Number on Record in Q1 2021
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 ...
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These Were the 20 Biggest Office Deals to Close in NYC Since the Start of the Pandemic
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, ...
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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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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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2,000 Non-Essential Construction Complaints Filed With 311 During NYC Lockdown
New York City, the city that never sleeps, is also the city that never stops building. As one of the busiest and priciest business destinations in the world, NYC is always growing, with more and more skyscrapers added to its ...
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Midtown Manhattan
3,300 SF | Garment District
