Flood of Sublets to Hit the NYC Office Market

We hope everyone had an enjoyable Fourth of July weekend. Now that we are several weeks into the opening of offices in NYC and Phase III has started, we thought you would find the recent Real Estate Weekly article discussing the effects of COVID – 19 on the NYC real estate market […]

By |2020-07-09T09:08:38-04:00July 9th, 2020|NYC Office Space|Comments Off on Flood of Sublets to Hit the NYC Office Market

TikTok to lease massive Manhattan office

Steve Cuozzo was first to report that the video-sharing platform clipping at the heels of Twitter, Instagram, SnapChat and Facebook has signed a 10-year-lease for 232,000 s/f at One Five One, Durst’s 48-story tower formerly known as Four Times Square.

The deal gives a major shot in the arm to an office market that has been […]

By |2020-06-02T13:52:42-04:00June 2nd, 2020|NYC Office Space, nyc office space renegotiation, Wharton Property Advisors|Comments Off on TikTok to lease massive Manhattan office

Update on the NYC Office Market and Sublet Deals

“Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.”

Winston Churchill quoted by Andrew Cuomo

 

The beginning phase of the pandemic is over, and we fervently hope the worst of the crisis is behind us. For now, the office leasing market is […]

By |2020-05-12T13:09:50-04:00May 12th, 2020|NYC Office Space|Comments Off on Update on the NYC Office Market and Sublet Deals

What we are seeing in the office space market

It comes as no surprise that the coronavirus has wreaked havoc on the New York office leasing market.   But for a few exceptions, leasing activity is effectively frozen. The entire real estate industry is completely on edge. Below is a summary of what we are seeing in the market today along with a prediction for […]

By |2020-04-22T17:12:54-04:00April 22nd, 2020|NYC Office Space|Comments Off on What we are seeing in the office space market

Coronavirus and the Force Majeure Office Lease Clause

Amid the flurry of coverage regarding the Coronavirus, a recent article in the Financial Times caught my attention. The article stated that 3,325 companies had been issued certificates by the Chinese government authorizing them to void contracts worth $38.5 billion.

Similarly, the Indian Financial Ministry issued an office memorandum stating that disruption of […]

By |2020-03-04T19:42:56-05:00March 4th, 2020|NYC Office Space|Comments Off on Coronavirus and the Force Majeure Office Lease Clause

The Rise and Possible Fall of WeWork – 3 Key Issues for Wary NYC Office Tenants

Our well-informed readers are all familiar with the meteoric rise and startling fall of WeWork.

 

Personally, I often look to historical analogies or the Classics to help better analyze current events. I see parallels to be found here in the Greek myth of Icarus. Like Icarus, WeWork flew too close to the sun. Like many impatient but […]

By |2019-12-12T06:30:08-05:00December 12th, 2019|NYC Office Space|Comments Off on The Rise and Possible Fall of WeWork – 3 Key Issues for Wary NYC Office Tenants

WeWork – 5 key points missed in the IPO uproar

We at Wharton Property Advisors are real estate advisors and not investment bankers, so we will leave the analysis of the initial public offering valuation and process to others. However, it strikes us that the recent gleeful reporting about the potential decline and fall of the WeWork empire is greatly exaggerated and totally misses the […]

By |2019-09-24T15:57:27-04:00September 24th, 2019|NYC Office Space|Comments Off on WeWork – 5 key points missed in the IPO uproar

An exciting new approach to work as we return from summer holiday

As many of us sluggishly return from our summer and Labor Day holidays, you may find this article in the Financial Times inspiring.  The author Pilita Clark argues that working more hours does not necessarily translate into greater productivity. In contrast, she suggests that we would be better served by following the examples of such […]

By |2019-09-05T11:40:54-04:00September 5th, 2019|NYC Office Space|Comments Off on An exciting new approach to work as we return from summer holiday

WeWork adds another 50,000 s/f Financial District headquarters

WeWork has secured a new location for its headquarters by WeWork at 30 Wall Street in the Financial District.

The co-working giant will be taking approximately 50,000 s/f across the second, third, fourth, sixth and 11th floors of the building with average floor plates of 11,500 square feet.

The company expects to open this location to members […]

By |2019-05-23T16:50:01-04:00May 23rd, 2019|Chelsea Office Space, Downtown NYC Office Space, Midtown Office Space, NYC Office Space, Times Square Office Space, Wharton Property Advisors|Comments Off on WeWork adds another 50,000 s/f Financial District headquarters
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