New ideas for a stimulus that will revitalize NYC

The possibility of a new stimulus bill has been at the forefront for the last few months. Two new ideas should be considered which will revitalize New York and use the stimulus funds most effectively: (1) direct grants and tax credits for office rents and (2) formation of a new City Creation Corps (CCC) to fund […]

By |2020-11-24T10:24:37-05:00November 8th, 2020|NYC Office Space|Comments Off on New ideas for a stimulus that will revitalize NYC

A Case Study on How We Successfully Sublet NYC Office Space in the Middle of the Pandemic

Many of our friends and clients now have excess office space in New York City which they are looking to sublet. We at Wharton Properties Advisors can help you based upon an innovative and successful strategy which we recently undertook to sublease 20,000 square feet of Class A space for a prestigious […]

By |2020-10-20T15:51:38-04:00October 20th, 2020|NYC Office Space|Comments Off on A Case Study on How We Successfully Sublet NYC Office Space in the Middle of the Pandemic

Have NYC landlords grasped the new reality?

NYC landlords have taken several constructive steps toward redesigning the workplace to provide for health measures and social distancing which is desperately needed to deal with the coronavirus crisis. However, it is an open question as to whether they truly grasp the new reality of today’s economy in which they need to […]

By |2020-10-14T06:22:44-04:00October 14th, 2020|NYC Office Space|Comments Off on Have NYC landlords grasped the new reality?

My Iconoclastic View of Work and Why We Need Offices

Our informed friends and clients are likely aware of the recent JP Morgan Chase findings that productivity has slipped in the office, particularly on Mondays and Fridays. In the same vein, architect and design firm Vocon surveyed the heads of nearly 50 businesses around the country and found that (i) 40 percent […]

By |2020-09-24T07:01:00-04:00September 24th, 2020|NYC Office Space|Comments Off on My Iconoclastic View of Work and Why We Need Offices

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
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