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Economic Recovery for New York Lingers

Economic Recovery for New York Lingers

Covid-19 changed patterns of work and travel in New York City. The result of which is New York’s economic recovery lags the rest of the country. In New York, only half of the jobs lost due to the pandemic were restored. This is in part to New York’s dependence on...
Proptech Changing the Way Construction is Done

Proptech Changing the Way Construction is Done

The New York City Economic Development Corporation is encouraging proposals from the property technology industry to help make buildings more energy efficient and environmentally sustainable.   The Mayor’s office for Sustainability along with the New York City...
Manhattan Tenants Head to the Outer Boroughs

Manhattan Tenants Head to the Outer Boroughs

Early stage investment firm, Left Lane Capital, is leaving Manhattan for Brooklyn.  The firm just signed a lease at Ten Grand in Williamsburg. They are leaving TF Cornerstone’s 152 W 57th St.   Other tenants also leaving Manhattan for Williamsburg’s...
Hotels Begin to Re-emerge

Hotels Begin to Re-emerge

New York hotel occupancy has “soared” to 65.4% as of March 21st – one of the highest occupancy rates we’ve seen since the pandemic began. There is one disclaimer however – these calculations are coming in from a reduced base of inventory.   A...
Empty Retail Space Flourishes

Empty Retail Space Flourishes

In Manhattan, empty retail space is flourishing as the once bustling streets of office employees dwindle.   Rent reductions offered by landlords is sustaining many retailers. But, how long can this continue? Many retailers are not making ends meet even with...
Flexible Office Life Prevails

Flexible Office Life Prevails

Commercial brokers are doing everything they can to get employees back to the office. Zoom tours, embracing the idea of flexible workspace – subletting, flexible leases, and making the office a desirable place to be.   Bruce Mosler, chair of global...