The KNOG
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 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...
The Future of NYC’s Real Estate
Real estate portrays the aspirations and agendas of corporations, people, and policy makers. The New York Times interviewed former city officials, real estate executives, affordable housing advocates, brokers and urban planners to gain insight into the future of New...
Covid-19 Public School Enrollment Drop
Enrollment in public schools is dropping across the US as the pandemic continues. This is likely to affect funding as it is determined on a per-pupil basis. Towns and municipalities have reduced tax revenues due to the virus which reduces school budgets. Schools are...
IWG Will Offer Coworking Space
Despite IWG (International Workplace Group's) loss of more than $300 million during the first half of 2020, they are planning to offer small, socially distant offices closer to employees' homes. This avoids the need to travel using public transportation, while giving...
Sunrun Merger Enables Solar Power to Expand
Solar power is not letting Covid-19's wrath stop it from growing. Sunrun has bought rival Vivint Solar; the two companies serve 500,000 customers together. The Sunrun merger will create efficiencies and allow the companies to expand nationwide. The combined company...
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
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 Goldman...
Residents Realize New York is Irreplaceable
Suburban sales in Westchester and Long Island may have peaked; renters are returning to Manhattan. Residents are lured by above average deals on larger apartments while buyers are taking advantage of Brooklyn and Queens' lowest prices in a while. While residential...
Big Tech Pioneers Office Space Acquisition in New York
Big tech has not allowed the pandemic to impact their office space acquisitions in New York. Apple, Amazon, Google, and Facebook are all showing massive signs of faith in the restoration of New York as they all have recently acquired enough space to hold more than...
New Yorkers Test the Waters of Living in Different Locations
As the pandemic continues to unveil across Manhattan many young professionals are taking advantage of the remote working situation and trying out new locations. This is a (likely) once in a lifetime chance for many to experience living in different environments while...
New York Forward Loan Fund
New York state is helping small businesses with the New York Forward Loan Fund (NYFLF). This is designed to help small businesses, non-profits and residential landlords with operating and re-opening expenses as a result of the Covid-19 pandemic. 90% of all New York...
Understand Your Landlords Situation
Prior to embarking on a lease negotiation it is imperative to understand your landlords financial situation. The better you understand your landlords position, the better you can negotiate. Let an experienced broker guide you through these lease negotiations....
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...
Not All Landlords Are Created Equally
Not all landlords are created equally. It is important to understand your landlords financial strength. Tenant construction and improvements are necessary for some lease transactions, in addition to capital improvements (such as keyless entries) and increased...