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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...
Cindat USA Sells Equity Stake in New York Hotels

Cindat USA Sells Equity Stake in New York Hotels

Cindat USA is selling a preferred equity stake in a portfolio of 7 select service hotels it purchased back in 2016 at a highly discounted rate. The hotels include several Holiday Inns, Hampton Inns, and Candlewood Suites in New York. The hotel industry was severely...
Amazon Acquires NYC’s Lord & Taylor Building

Amazon Acquires NYC’s Lord & Taylor Building

Amazon is one of the pioneers in bringing employees back to NYC after acquiring Manhattan’s iconic Lord & Taylor building. 2,000 employees are set to be working from the site – officially in 2023 when they begin moving into the space. Creating 2,000...
The Power Shift in the Market

The Power Shift in the Market

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...