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The Recovery of New York

The Recovery of New York

Mark Zandi, chief economist for Moody’s Analytics predicts it will take New York City at least 2 years, and possibly more for New York City to recover. All of the advantages New York has to offer – Broadway, tourism, skyscrapers full of office workers, and...
The Return of Office Employees

The Return of Office Employees

The latest estimate is for 15% of Manhattan office workers to return by the end of 2020. This is substantially lower than the same estimate of 26% made in August. The fear of a second wave and several outbreaks around the city are to blame for the delay. When asked...
The Conversion of Retail Locations to Warehouses

The Conversion of Retail Locations to Warehouses

The boom in e-commerce has developers focused on converting large shopping mall anchors (think Neiman Marcus, JC Penny, etc) to warehouses. The proximity to highways and parking beautify the transition. Below are some key factors to assess whether your property would...
Hotels Entertain Creative Ideas to Boost Revenue

Hotels Entertain Creative Ideas to Boost Revenue

New York City hotels are grappling with all-time low vacancy rates as a result of the pandemic. When the crisis began in March occupancy dropped from 90% to 15%, and has remained steady in the single digits according to the Commercial Observer. Creative thinking and...
Finance Industry Calls Employees Back to the Office

Finance Industry Calls Employees Back to the Office

New York’s financial industry is leading the way in bringing office workers back. Mudrick Capital, has already called back employees to the office as of Labor Day. JP Morgan Chase followed suit in calling more senior officials back this week. Citigroup and...