As you may recall, approximately two years ago Amazon decided not to follow through on its plans to move to Long Island City due to community opposition. New York City could certainly use those tens of thousands of well-paying jobs with their attendant multiplier effect now.
Both Governor Andrew Cuomo and Mayor Bill DeBlasio were supportive […]
Friday brought the long-rumored news that WeWork is going public in a transaction that values the company at $9 billion. The deal is structured as a merger with BowX Acquisition, a special purpose acquisition company (SPAC).
Following the report in the Financial Times of WeWork’s plan to go public via a SPAC, one wag […]
In some companies, there is a clash brewing between management that wants to return to the office and employees who prefer remote work. Many CEOs are eager to get back in the office and the trend has accelerated in recent weeks as vaccines have become more widely available. Further, a recent Bloomberg article reported that […]
Here’s a prediction that is a sure thing. You will soon be seeing articles of all types discussing the pandemic‘s impact on anything and everything one year on. So let me start early and beat the crowd instead of following it by discussing the effect of the Coronavirus on our area […]
Our well-informed clients and friends likely saw the recent news that Knotel, a flexible leasing operator which had over 4 million square feet under management, filed for Chapter 11 bankruptcy on Monday. Knotel’s U.S. operations are focused on private workspaces for mid-size and enterprise companies in New York and San Francisco.
In […]
Hurrah – the long-awaited vaccine is finally here! Thanks to this wonderful news, businesspeople can finally look ahead to the future with some confidence that a return to normalcy is possible within a year’s time, and hopefully sooner. John Maynard Keynes said that businesses will not expand unless they believe that tomorrow […]
The business world and the office will likely never be quite the same as pre-Covid. We know that. But let’s fast forward 6 to 12 months. Better days may lie ahead for several reasons.
1) When the Coronavirus is over and life returns to safety, there will be a desire to come together […]
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 […]
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 […]
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 […]
