Real estate experts agree the speedy distribution of the Covid-19 vaccine is essential for commercial real estate and the economic recovery of the city. Without a vaccine employers will be hesitant to bring back employees, leaving the city in its empty shell state that it currently resembles.
Jonathan Miller, co-founder of real estate firm Miller Samuel, Inc. believes there is going to be a “price discovery” period for commercial real estate. Prices will drop low enough to pull tenants in. Lower prices due to excess space means smaller firms will have a chance to get into New York’s office space economically.
Now is a great time to see space and capture your island of peace and prosperity in the maelstrom we are hoping Manhattan will become once again. It is a tenant’s market. Contact GE Grace at 646 312 6800 or email Grace@GeGrace.com.