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...
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)...
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...
Asking rents for major retail space are dropping across NYC’s 5th Avenue, LA’s Rodeo Drive, Chicago’s Michigan Ave, and the Las Vegas strip. For the first time since 2011 prices have dropped below $700 per square foot – an 11.3% decline from a...
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...
