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

The Growing Commercial Real Estate Threat Facing Our Economy / My Forbes.com Column

I recently attended a fascinating real estate investors’ conference for hedge funds, lenders and owners held by the Real Estate Limited Partner Institute. The talk of the conference was the almost complete inability of landlords (other than owners of tier 1 properties) to get any financing at all, except at exorbitant rates around 15% which […]

The Growing Commercial Real Estate Threat Facing Our Economy / My Forbes.com Column2023-11-14T14:36:08-05:00

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

How New York Avoids the Doom Loop

Last week there was an article in the New York Times profiling Columbia Business School professor Stijn Van Nieuwerburgh, who is concerned about a potential “doom loop“ for New York City arising from the decline of the office sector. A couple of days later Bloomberg reported a that a recent study by Stanford work from […]

How New York Avoids the Doom Loop2023-08-08T12:29:54-04:00

We should think twice before turning NYC into Hades on the Hudson

There appears to be an unseemly rush to set up casinos in Manhattan. Every day there is a new proposal from a prospective operator.

However, don’t fall for the okey-doke. If the city places a bet on Lucky Dan, it’s sure to be stung just as in the movies. This is a desperate last gasp move […]

We should think twice before turning NYC into Hades on the Hudson2023-08-08T12:33:45-04:00

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

Elon Musk shows the wrong way to get employees back to the office

Our well-informed readers are surely aware of the travails of Twitter following its recent takeover. Technology is not my field, but when Elon Musk mandated a return to office by employees that he later rescinded, I thought there might be helpful lessons for managers from the ensuing debacle in my area of expertise. Clearly, this […]

Elon Musk shows the wrong way to get employees back to the office2023-08-08T12:59:34-04:00

Real Estate, FTX, and the Metaverse / Reflections on the Coming Downturn

There are some dark clouds hovering over the office leasing industry that started with the pandemic and remote work. Industry veterans suggested for years that the trend would pass. However, 2 1/2 years into the pandemic, we can conclude that it is surely enduring with approximately 50% employee attendance around the country.

In order to adapt, […]

Real Estate, FTX, and the Metaverse / Reflections on the Coming Downturn2023-08-08T13:01:20-04:00

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
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