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The KNOG

Manhattan Lags Behind Surrounding Area in Housing Sales

Manhattan Lags Behind Surrounding Area in Housing Sales

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...

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The Move to Suburban Space

The Move to Suburban Space

Increased demands for suburban office buildings will impact pricing. Larger spaces means easier social distancing. These spaces are typically in shorter buildings than NYC's skyscrapers, potentially leading to less elevator use. Driving means no (or less) necessary...

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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 jobs in the...

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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...

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The Necessary Spotlight on Your HVAC System

The Necessary Spotlight on Your HVAC System

It is crucial to know what to focus on revolving around cleaning. HVAC systems are important. One of the biggest complaints for tenants is bad air conditioning. Air conditioning can be critical to slow down the spread of viruses. Are your systems being filtered in...

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The Dropping Value of REITs and Your Lease

The Dropping Value of REITs and Your Lease

What do major REIT's stock prices dropping mean for your lease? Commercial space value is likely dropping as companies reprioritize their working arrangements. This is seen in the drop in stock value of many REITs, and not necessarily your building value just yet. It...

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Eager Lenders Are Pouncing on Landlords

Eager Lenders Are Pouncing on Landlords

Lenders have already begun taking some property owners and developers who are late on their payments to court. In hopes of minimizing their financial losses, and protecting their investors many are seeking foreclosures on their interests in these properties. Many of...

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The Importance of the HVAC System in Your Office

The Importance of the HVAC System in Your Office

Air quality is now a leading concern for employers as they lease space. What HVAC system is in your building? What constitutes cleaner air for your employees? These questions should be asked prior to leasing space - and can also be a point of focus during lease...

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How is the Future of Retail in NYC Effecting Your Lease?

How is the Future of Retail in NYC Effecting Your Lease?

Major retail players are being hit especially hard in NYC. With office workers shunning the city en masse and tourism all but nonexistent, what does this mean for New York? Major retailers with flagship stores in New York are feeling the revenue loss as a result of...

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