As firms across the world were forced into mandatory work from home policy during the worst months of the pandemic, many employees have realized gains and losses from the new working dynamic. In a recent conversation with my niece who has worked from home for the last...
If you are a tenant in a weak financial position, you have more negotiating power compared to tenants with financial strength. A complete reversal of “normal” market mechanisms. Landlords do not want to lose tenants, as replacing them in this market is difficult. If...
Regus has filed for Chapter 11 on over 100 locations across the US, with 6 located in New York. These shared office spaces were based in Manhattan, Brooklyn, and Long Island City. This is in line with parent company, IWGs plan to trim 4 % of its global portfolio as a...
July saw a massive jump in housing sales everywhere except Manhattan. Westchester County, Long Island, Brooklyn and Greenwich, CT, all saw increases in sales, some as high as double the usual rate. Pending deals in Manhattan fell by 47% in the price range of $599k to...
70-90% of tenants are still paying their rent. As a result landlords are having negative cash flows. It is now a tenant favoring market. Landlords and banks will be impaired as this continues. Rents will likely go down as demands go down. Vacancies are likely to...
