What Happens If Your Landlord Defaults in 2023?

Never say never to the risk of your landlord going bankrupt. Lost in the talk about Fed policy, rising rates, inflation, recession probabilities, and geopolitics is something much more consequential for New York City commercial tenants. The risk of landlord ...
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/ / Real Estate News

Is This the End of WeWork?

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 ...
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How New York City Landlords Respond to Reduced Office Space Demand 

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 ...
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NYC’s Luxury Retailers Don’t Care About a Recession  

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 ...
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425 Park Avenue and Midtown’s Rebirth

After roughly six years of construction, 425 Park Avenue is finally complete. This redeveloped and reimagined beauty is Park Avenue’s first new full-block office building in 50 years.  Five decades without a modern office building taking up an entire city ...
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/ / Real Estate News
Manhattan July Office Snapshot

Colliers Report: Manhattan Office Leasing Nearly Doubles in July, But the Market Remains in Recovery Mode

The office space market in Manhattan has shown vital signs of recovery in the second quarter of 2022. Office usage is on the upswing, with more and more workers returning to the office. Employment in the area is on the ...
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/ / Real Estate News
Q2 Office Report | Metro Manhattan Office Space

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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/ / Real Estate News

SL Green Snags 450 Park Avenue NYC Office Tower for $445M

SL Green, Manhattan’s most prominent landlord, recently closed its first office purchase in four years. The company shelled out $445 million to acquire the Class A Plaza District office tower at 450 Park Avenue from Oxford Properties Group. SL Green ...
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/ / Real Estate News
FiDi, an Alternative To Midtown Manhattan? | Metro Manhattan Office Space

FIDI: An Affordable Alternative to Midtown Manhattan

Premium Class A office space in Midtown Manhattan has held its value more strongly than anticipated throughout 2020 and 2021. Prices in Class A buildings have only dropped by 10-15%, with landlords preferring to offer generous concessions instead, such as ...
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Park Avenue Office Towers, the Next Billionaires' Row | Metro Manhattan Office Space

Will Park Avenue Office Towers Become Luxury Condos?

With so many offices in New York City still empty - as of February, the office vacancy rate in Manhattan was 12.6% - landlords and city officials have had to adapt quickly. Some landlords lowered their asking rents and offered ...
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Lever House Revamp on Park Avenue | Metro Manhattan Office Space

$100M Lever House Revamp Kickstarts Plaza District Rebirth

One of Midtown Manhattan's most iconic landmarks, Lever House, is getting a $100 million upgrade. Owners WatermanClark and Brookfield Properties are determined to bring the postwar Manhattan office building to modern standards to attract high-profile tenants. It's one of many ...
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Flag of Ukraine

Ukraine Conflict to Impact Commercial Real Estate

Today I’d like to discuss the Ukraine conflict and its eventual impact on the real estate market. More than one and a half million refugees fled the country only in the first ten days of the war. Who would have ...
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