A record number of office buildings will be converted into apartments in 2024...
Across America, and as the hybrid work model takes hold after COVID-19, aging office structures will give way to apartments in unprecedented sums.
View ArticleNYC’s return-to-office trend gains steam, hits nearly 70% of pre-pandemic level
The return-to-office trend gained steam in December when average visitation rates at 350 Manhattan buildings rose to 67% of 2019 rates, according to the Real Estate Board of New York. That was up from...
View ArticleManhattan office market rebounds faster than rival cities as NYC demand...
A report found that demand for space in the Big Apple rose nearly 40% in 2023 over the previous year -- lifting demand to 75% of pre-pandemic times.
View ArticleBoston Properties wrapping up $100M revamp of 360 Park Avenue South featuring...
No, the world isn’t ending — and neither is 360 Park Avenue South, the prewar office tower at East 26th Street where Boston Properties is wrapping up a more than $100 million repositioning and upgrade.
View ArticleThe NY Times uses discredited data to pretend people aren’t returning to NYC...
The New York Times article by Emma G. Fitzsimmons and Jeffrey C. Mays, of the Bill de Blasio “tale of two cities” stripe, claim not all New Yorkers benefit equally from the economic rebound.
View ArticleIconic Nine West tower continues leasing surge under Stefan Soloviev
The 50-story skyscraper with over 1.6 million square feet behind its famous sloping facade inched closer to 100% occupancy with a newly signed lease with French global asset management firm Tikehau...
View ArticleGoogle’s newest office for AI designers has everything — except decent Wi-Fi
"You’d think the world’s leading internet company would have worked this out," one AI engineer said.
View ArticleSixth Avenue reclaims title as Midtown’s No. 1 office-leasing corridor
Sixth Avenue has reclaimed its title as Midtown’s No. 1 office-leasing corridor, as measured by the least percentage of vacant space — the latest lead change in the never-ending bragging-rights battle...
View ArticleNYC developer plans to build 28-story office tower in trendy Manhattan...
Taconic Partners and its investment partner Nuveen Real Estate plan to build One Grand, a tower to rise at the corner of Grand and Varick streets where Soho, Hudson Square and Tribeca converge.
View ArticleNYC landlords luring workers back to offices with pickleball, golf...
Forget the boring office buildings of yore.
View ArticleMore NYC landlords tout ‘fun’ office amenities despite vacancy uptick
The fun-factor train keeps on chugging along at the city’s premier office buildings as landlords struggle to arrest an alarming increase in vacancies, which now top 20% overall. The Post reported last...
View ArticleSan Francisco can’t bounce back as office vacancies reach all-time high
The city's once-booming office market is feeling like more of a ghost town, as vacancies soared to 36.6% in the last quarter, according to CBRE.
View ArticleUnpaid NYC property taxes to hit record $880M this year — thanks to Letitia...
New York City officials are forecasting overdue property taxes will surge to a record $880 million in the current fiscal year — and they say it’s because they’ve lost the power to enforce punishments...
View ArticleLower Manhattan office space ‘tours’ on the rise despite Downtown’s...
The Downtown office market is in even worse shape than widely reported data indicate, according to several major dealmakers. One of them, an industry legend not given to doom-and-gloom scenarios, told...
View ArticleManhattan offices set new record high for emptiness
The number of vacant offices in Manhattan just hit a new record, according to new numbers from Colliers -- a bleak benchmark four years after COVID-19.
View ArticleAmazon to slash office space — billion-dollar cutbacks spark speculation
Amazon, the tech titan synonymous with sprawling and amenity-rich offices, has announced plans to drastically reduce its office footprint in the coming years.
View ArticleFormer CBS home Black Rock nearly 90% leased after amenity-filled transformation
Twentieth Century office towers can’t survive in the Twenty-First on their historic reputations, architectural distinction or landmark status. Companies today place a higher value on an older...
View ArticleHow empty office buildings could help NYC solve its housing crisis
The city desperately needs more rental housing. Hundreds of obsolescent older office buildings stand near-empty. So why not use one problem to solve the other?
View ArticleBillionaire’s new building to soar over Midtown for one very specific reason
Billionaire hedge funder Ken Griffin, along with Vornado Realty Trust and Rudin, aim to breathe life back into a pocket of Midtown that COVID left empty.
View ArticleFamed MONY tower that inspired hit song sells for a lot less cash than it...
The fire-sale price reflects the crisis in the investment-sale market for commercial properties, where some office values have tumbled by up to 50%.
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