Mark Zandi, chief economist for Moody’s Analytics predicts it will take New York City at least 2 years, and possibly more for New York City to recover. All of the advantages New York has to offer – Broadway, tourism, skyscrapers full of office workers, and...
The latest estimate is for 15% of Manhattan office workers to return by the end of 2020. This is substantially lower than the same estimate of 26% made in August. The fear of a second wave and several outbreaks around the city are to blame for the delay. When asked...
The boom in e-commerce has developers focused on converting large shopping mall anchors (think Neiman Marcus, JC Penny, etc) to warehouses. The proximity to highways and parking beautify the transition. Below are some key factors to assess whether your property would...
New York City hotels are grappling with all-time low vacancy rates as a result of the pandemic. When the crisis began in March occupancy dropped from 90% to 15%, and has remained steady in the single digits according to the Commercial Observer. Creative thinking and...
New York’s financial industry is leading the way in bringing office workers back. Mudrick Capital, has already called back employees to the office as of Labor Day. JP Morgan Chase followed suit in calling more senior officials back this week. Citigroup and...
