WeWork has exited several leases across Manhattan including locations in Midtown, the Meatpacking District, and Soho. CEO Sandeep Mathrani told Reuters that WeWork is “completely on track” to turn a profit by the year’s end. WeWork’s board is...
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...
Jeffrey Margolis, New York real estate attorney, has been busy with “unleasing”. Many tenants are rethinking their real estate space situation as the pandemic persists. There are some solutions to help tenants. It is imperative to contact a real estate...
According to a CBRE report, industrial space has had a robust 2020. E-commerce firms have grown due to the pandemic. Firms acquired New York’s most desirable warehouse space. The third quarter of 2020 saw a 71% increase in the signing of industrial space...
Although co-working spaces have had a rough year during the pandemic, there is light at the end of the tunnel. JLL predicts flex options will compromise 30% of the office market by 2030. This is due to increased demand for flexible options by large...
Governor Cuomo is proposing to create regulations to allow the conversion of vacant commercial and hotel space in Midtown Manhattan into housing. The legislation would create a 5 year period in which owners of the buildings will be able to convert the use of their...
