The last 10 years have been a landlord’s market. This is all changing as collections are increasing and landlords are seeing negative cash flows. As of April, the general consensus was 70% of tenants were paying rent. May and June saw even lower rates of...
As firms across the world were forced into mandatory work from home policy during the worst months of the pandemic, many employees have realized gains and losses from the new working dynamic. In a recent conversation with my niece who has worked from home for the last...
If you are a tenant in a weak financial position, you have more negotiating power compared to tenants with financial strength. A complete reversal of “normal” market mechanisms. Landlords do not want to lose tenants, as replacing them in this market is difficult. If...
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)...
