Phase 2 of the Office Revolution is Here; What Tenants Need to Know

Since the onset of the pandemic, there has been a revolution in office work as technology allowed people to work from home. As I have discussed at length in many commentaries there are pluses and minuses to this approach.

However, one thing is certain. Any predictions that employees would be returning to the office in droves […]

Phase 2 of the Office Revolution is Here; What Tenants Need to Know2024-05-23T10:51:54-04:00

The State Of Commercial Real Estate Could Be A Lot Worse

It is well known that the commercial real estate industry, and most particularly the office sector, has been reeling from the double whammy of remote work combined with a 525 basis point increase in interest rates. But here’s the good news – the situation could be a lot worse. There may be two strikes on […]

The State Of Commercial Real Estate Could Be A Lot Worse2024-04-30T11:22:21-04:00

Bankruptcy Provides Another Lifeline for WeWork While NYC Landlords Shudder

In another blow to the office industry, co-working giant WeWork finally bowed to the inevitable after a total of $16 billion in losses and filed for Chapter 11 bankruptcy in Newark last night. This was a case that had its origins well before the pandemic, but the trend to remote work hastened WeWork’s fall. The […]

Bankruptcy Provides Another Lifeline for WeWork While NYC Landlords Shudder2023-11-14T14:26:58-05:00

Mr. Musk misses the mark – getting employees to the office requires a practical solution

With all the controversial things that Elon Musk says, even our well-informed readers may not have seen his interesting comment in his recent CNBC interview that employees going to the office is a “moral issue”. In the interview, Mr. Musk opined that “I kind of think that the whole notion of work from home is […]

Mr. Musk misses the mark – getting employees to the office requires a practical solution2023-08-08T12:22:13-04:00

Power to the Pedestrians

There has been a lot going on lately, so it is possible that even our well-informed readers missed the interesting news that in a special referendum in Paris, local citizens voted overwhelmingly to ban rented e-scooters by 89-11%. Apparently, the chaos and accidents caused by these motorized menaces was too much for Parisian pedestrians to […]

Power to the Pedestrians2023-08-08T12:26:16-04:00

The Dominoes are Starting to Fall

There have been several excellent articles recently about whether the glass representing the future of New York and urban America is half empty or half full. We don’t yet know in a metaphorical sense. However, we do know that offices are literally half full with 49.6% employee attendance in New York City and 49.0% nationwide. […]

The Dominoes are Starting to Fall2023-08-08T12:35:56-04:00

A New Incubator to Develop Actionable Ideas for NYC

As recently reported, a new cutting-edge thinking tank called the 5Boro Institute was recently formed by civic and business leaders including former Lieutenant Governor Richard Ravitch. The group has close ties to Mayor Adams, and its purpose is to promote new and actionable ideas to improve the city by advancing responsible, equitable and creative solutions […]

A New Incubator to Develop Actionable Ideas for NYC2023-08-08T13:04:37-04:00

Why so many lawyers are going into the office, and why that is important 8/10/2022

We have been tracking a fascinating trend in the legal industry in which their employees are returning to the office at substantially higher rates than other businesses. According to the widely-followed Kastle Systems back-to-work barometer, employees at law firms nationwide have approximately 80% average occupancy office attendance as opposed to 45% for all industries, a […]

Why so many lawyers are going into the office, and why that is important 8/10/20222023-08-16T11:46:15-04:00

Our 5 Point Plan to Protect Office Tenants Against Inflation 3/23/2022

While we often comment on broader trends in real estate and the NYC economy, it is also important to go back to basics from time to time. As everyone is aware, the effects of inflation are being felt in both our business and consumer lives. Commercial real estate is no exception due to increased […]

Our 5 Point Plan to Protect Office Tenants Against Inflation 3/23/20222023-08-31T13:11:48-04:00

The Office is Dead; Long Live the Office 1/04/2022

Some much-needed time off over the holidays has allowed me to reflect on the tumultuous events of the past year, and more specifically on the impact of the pandemic on real estate and the office. In a paradoxical way, the Omicron surge has been the last straw. Even some people who have […]

The Office is Dead; Long Live the Office 1/04/20222023-08-31T13:21:41-04:00
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