The Port Authority Bus Terminal’s Checkered past, Gloomy Present, and Promising Future
There was never any glory in the race for 'NYCs Most Dismal Point of Entry.' But since Penn Station's 255,000-square-foot Moynihan Train Hall expansion opened on New Year's Day, the Port Authority Bus Terminal doesn't even have a worthy rival ...
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Supertall Towers May be Controversial, but They Point the Way to Stable, Sustainable Office Space
I have been thinking lately about the towers that define our city. We are living through a contemporary boom time for skyscrapers, with new buildings regularly topping 1,000 feet. Only seven years ago, One World Trade Center became the tallest ...
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These Are the 5 Biggest NYC Office Sales of 2021 (So Far)
The New York City office market has been going through a rough patch caused by the Covid19 pandemic. However, recent transaction activity highlights the fact that investors continue to see the long-term appeal of this bustling market. Our research into ...
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New York Offices Lost $28.6 Billion in Market Value. What Does That Mean for the City and 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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When Will the Return to New York City Offices Really Happen?
Over the past months, experts have been trying to predict when people will return to their offices. Employers and employees alike had to embrace and adapt to remote work in a short time. Many of them have fully adjusted and ...
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Google Just Spent $2.1 Billion on a St. John’s Terminal – Is Big Tech Driving Manhattan’s Revival?
Google Just Spent $2.1 Billion on a St. John’s Terminal – Is Big Tech Driving Manhattan’s Revival? On September 21st, Google announced that it would purchase the St. John’s Terminal building on the Manhattan’s West Side for an eye-popping $2.1 ...
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Increased Leasing Activity Fuels Manhattan’s Office Recovery
Manhattan’s commercial real estate market was hit with an unprecedented blow when the Covid19 pandemic emerged in March 2020. The market has been struggling ever since, recording decreased activity across the board. As a result, New York City office space ...
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Rent Control for Commercial Spaces? Newly Proposed NYC Legislation
The city of New York's Council Committee on Small Business is holding a hearing on a bill that would enact commercial rent control for retail and office space. If this bill gets passed, it could negatively impact New York City's ...
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Outdoor Space, the Most Sought-After Office Amenity Post-Pandemic
The Covid19 pandemic has triggered a massive shift in priorities for landlords and tenants alike. In just a few months, the way people work has changed forever. Numerous employers have learned to embrace hybrid and remote work models. While employees ...
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IWG’s Big Lease at 250 Park Avenue Is the Latest Evidence that Coworking Offices Are Back
Powered by startups, freelancers, and established companies looking for extra desks, coworking office managers enjoyed several years of uninterrupted growth in Manhattan. By the end of 2019, the sector began to stall. All over the city, shared space players like ...
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Penn Station: Past, Present and Future
New York City’s Pennsylvania Station, most commonly known as Penn Station, is the busiest transportation hub in the entire Western Hemisphere. More than 600,000 travelers use it every day. The station has a long, rich, and controversial past, and potentially ...
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How Disasters Helped Shape New York City
New York City is one of the fastest-growing urban centers in the world. While this accelerated pace of growth has led NYC to become one of the most innovative cities around the globe, it has also caused problems over the ...
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