Yes WeWork Can (for Now)

If anyone was wondering whether WeWork can confirm its bankruptcy plan, the answer is yes WeWork can. While a court hearing on confirmation of the plan is scheduled for May 30, its emergence from Chapter 11 is essentially a foregone conclusion at this stage. I say that because I consulted with Eric, who is also […]

Yes WeWork Can (for Now)2024-05-23T10:53:04-04:00

Miami Nice, New York Better; How to Revitalize NYC to Compete Effectively

While in Miami last week, I made sure to make time for an extensive tour of the downtown Brickell business district. One phrase I heard repeatedly from the locals is that they were trying to create a mini Manhattan on the shores of Biscayne Bay. However, unlike the conventional commentary from New York chauvinists like […]

Miami Nice, New York Better; How to Revitalize NYC to Compete Effectively2024-05-21T14:37:33-04:00

The National Guard in NYC Subways – A Good Idea That Needs Tweaking

Everybody wants to be safe. Apparently, the word is out that it may not be safe on the New York City subways, so Governor Kathy Hochul has stepped into the breach and is providing 1000 New York national guardsmen and state police to check bags at the entrance to major subway stations like Grand Central […]

The National Guard in NYC Subways – A Good Idea That Needs Tweaking2024-04-30T11:37:22-04:00

The WeWork Bankruptcy – What Comes Next?

Karl (not Groucho) Marx, citing Hegel as the source, famously said that history appears first as tragedy, twice as farce. While I will spare you from a dialectic, suffice it to say that the WeWork bankruptcy might be an example of what these famous economic and social philosophers had in mind. Let me explain by […]

The WeWork Bankruptcy – What Comes Next?2024-04-30T11:28:55-04:00

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

The New Queens Soccer Stadium / A Good News Story

With all the tumult in the commercial office market, I thought that a good news story would be a nice subject as the new year is now well underway. Soccer aficionados are probably aware that New York City has reached an agreement with Major League Soccer’s New York City Football Club (NYCFC) to […]

The New Queens Soccer Stadium / A Good News Story2024-04-30T11:14:18-04:00

There’s Never Been a Better Time to be an Office Tenant / Ruth in Fast Company

I was pleased to participate in a fascinating report just released in Fast Company. While titled as an eight-point guide for designing an office that office workers actually want to return to, it also contained a discussion of the state of the office market in several major cities and the views of several real estate […]

There’s Never Been a Better Time to be an Office Tenant / Ruth in Fast Company2024-04-30T11:09:00-04:00

The Anticipated WeWork Bankruptcy and its Larger Significance

As our well-informed readers know, the Wall Street Journal has reported that WeWork expects to file for bankruptcy next week. For now, the WeWork bondholders have entered into a seven-day forbearance of the grace period to declare a default in order to provide additional time for negotiations.

It has been evident for many years that WeWork’s […]

The Anticipated WeWork Bankruptcy and its Larger Significance2023-11-06T13:39:00-05:00

The Hidden Challenge Facing WeWork

Below is an updated version of my latest Forbes.com column.

Our well-informed readers are likely aware that a couple of weeks ago, WeWork withheld interest payments due on five senior secured notes totaling approximately $95 million. In an 8-K report, WeWork stated that it has a 30-day grace period to make the payments before an event […]

The Hidden Challenge Facing WeWork2023-11-06T13:45:52-05:00

Let’s invite Delta and Coca-Cola to move jobs to New York! 4/07/2021

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 […]

Let’s invite Delta and Coca-Cola to move jobs to New York! 4/07/20212024-05-21T14:45:16-04:00
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