Mayor de Blasio signed new legislation requiring hotels with over 100 rooms that have laid off over 75% of their employees, or closed as a result of Covid-19, to pay a weekly severance of $500 for up to 30 weeks to their laid off employees if they do not reopen by...
London is adding 1,500 new residencies where offices once existed. As the nature of how we work changes, London adapted. New research from Accenture, CIPD, the Office for National Statistics, and PwC has confirmed hybrid working is here to stay. As a result, the City...
Google is buying the St. John’s terminal building for $2.1 billion which is expected to close in early 2022. The property, on West Houston Street, is across West Street from the Hudson River. This is the largest real estate purchase New York has seen since the...
The NY State Comptroller is now predicting NYC will recover by 2025, as the value of New York’s office buildings fell by $29 billion resulting in a $850 million drop in tax revenues. This drop is a 16.6% decline in market value, the first drop in office building...
The Rent Stabilization Association, a landlord trade advocacy group, filed a lawsuit in federal court to block New York State’s eviction moratorium. The US Supreme Court recently struck down most of New York’s prior eviction moratorium. As a...
Developer Edward Minskoff began construction on the first new, first-class office development in Brooklyn’s’ Dumbo, showing massive faith in the commercial office market. Developers are embarking on new projects. At 343 Madison Avenue, a new office...
