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The KNOG

New York City Landlord Faces Eviction

New York City Landlord Faces Eviction

David Howson, a New York City landlord is facing eviction as tenants living in his Harlem building are refusing to pay rent. He is out more than $40,000 in missed rent payments. New legislation being passed will delay the tenants being held responsible for rent - up...

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Evictions and Foreclosures Further Delayed

Evictions and Foreclosures Further Delayed

Governor Cuomo signed a bill into law allowing renters and homeowners to delay evictions and foreclosure proceedings until May 2021 if they can demonstrate financial hardship caused by the pandemic. All renters and homeowners have to do is fill out a "standardized...

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141 East 47th St Undergoing Excavation

141 East 47th St Undergoing Excavation

141 East 47th Street is currently undergoing excavation, a bustling sign for what may come for Midtown - more residencies? The building was originally going to be 49 stories based on a 2018 report; it will now be 35 stories and contain 200 apartment units. The...

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Contents of Empty Malls Being Auctioned Off

Contents of Empty Malls Being Auctioned Off

Public auctioning of the contents of closed shopping malls are becoming more common as malls close permanently. The Metrocenter, a mall based in Phoenix, which closed in June had its contents auctioned off.  Mall directories, fire extinguishers, mannequins, and the...

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The New “Office to Self-Storage” App, Neighbor

The New “Office to Self-Storage” App, Neighbor

The new “BIG IDEA” in real estate is Neighbor, the office to self-storage app.  The company is inviting commercial property owners to list their empty office space as self-storage on Neighbor's platform.  According to the company, It is an alternative revenue source...

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2020 Sees High Number of Bankruptcies

2020 Sees High Number of Bankruptcies

New Generation Research provides corporate bankruptcy data and that research is suggesting that 2020 will see more bankruptcies than previously in our lifetime.  So far, Hertz rental cars was the largest Chapter 11 bankruptcy filing so far this year.   The...

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Proposal to Convert Midtown Offices to Residences

Proposal to Convert Midtown Offices to Residences

14% of office space in Midtown Manhattan is vacant. Many office workers are working remotely.   Scott Rechler, chief executive of RXR Realty believes remote work is here to stay.  As a result, RXR is proposing that the state and city make it easier for developers...

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Happy Holidays!

Happy Holidays!

Dear Friends, We do not have to remind you of the challenges of 2020 (which we just did), but we do want to thank all of our readers and those who took the time to comment on our Knowledge Blog—the KNOG! First, we would like to wish you a Merry Christmas, Happy...

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Close Relationships Change as Remote Work Ensues

Close Relationships Change as Remote Work Ensues

The freedom to work from home has created the opportunity to foster deeper relationships with those closest to the employee—family, neighbors, friends, etc.  Instead of forming a close bond with a boss or co-worker, the employee is free to choose with whom they...

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The Effect of Amazon Warehouses on Communities

The Effect of Amazon Warehouses on Communities

As Amazon looks to locate new warehouses in many mall anchor locations like J.C. Penny and Sears, questions and concerns are abundant.    Amazon desires to be closer to its ever-increasing number of Amazon Prime members demanded by two-day shipping. Malls in...

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WeWork Launches WeWork on Demand

WeWork Launches WeWork on Demand

WeWork has officially launched a new app that allows users to book office space by the hour. WeWork's Global Head of Marketing, Pradhdeep Singh, believes employers will allow employees to work remotely on an as needed basis; WeWork is trying to accommodate their...

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Apple Subleases Space at 11 Penn Plaza

Apple Subleases Space at 11 Penn Plaza

Big tech is continuing to venture forward in acquiring office space in New York. Apple has signed a sublease to take over space leased to Macy's at 11 Penn Plaza. Macy's will be moving most of their operations to Long Island City, Queens going forward. We are seeing...

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Airbnb Ends 2020 on a Positive Note

Airbnb Ends 2020 on a Positive Note

Initially distraught by the pandemic and government issued limitations on travel, Airbnb is now seeing new patterns of use to meet the growing flexibility Covid-19  has induced. At the beginning of the pandemic, Airbnb laid off 1,900 employees.  Revenue was down...

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Salesforce to Acquire Slack

Salesforce to Acquire Slack

Salesforce will acquire Slack for $27.7 billion. This is the largest acquisition Salesforce has undergone since its founding, 21 years ago. The software industry has benefitted from the large shift to remote work during the over-hyped pandemic!   Marc Benioff,...

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The Future of Work is Upon Us

The Future of Work is Upon Us

Remote employees are enjoying many aspects of virtual work while learning to navigate an entirely new working environment. Some of the enjoyed perks include the lack of commuting, spending more time with loved ones, having more time to exercise, and more time for...

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