office
Office Building Being Sold for Less than Morgage
An office building in New York City, owned by an affiliate of Related Companies, is set to be sold at a steep discount. Empire Capital Holdings and Namdar Realty Group […]
Read More....Rising Risk in Office Lease Exposure
The long-term nature of office leasing has delayed the market’s adjustment to the changes in office utilization triggered by the COVID-19 pandemic, allowing building owners to maintain some income from […]
Read More....Helping Employees Move from Burnout to Belonging
Are you bringing home more from your job than just a paycheck? A 2023 study by the American Heart Association found that burnout—chronic, unmanaged workplace stress—is on the rise, with […]
Read More....NYC Offices Turning into Residential Conversions
New Yorkers often joke about living at the office, but new data from the Department of City Planning suggests this could soon be a reality for some. According to the […]
Read More....Manhattan Office Tower with Saks Flagship Eyes Residential Conversion
The owner of a building adjacent to New York’s iconic Saks Fifth Avenue flagship store seeks a permit to convert its office space to residential units. The 38-story building, located […]
Read More....Center City Leaders Prioritize Residential Growth Amid Office Slowdown
Since 2021, over 7,000 new residential units have been built in Center City, transforming its daily population over the past five years. The shift has been from office workers to […]
Read More....Being Together in the Workplace is Essential
For Mitch Goldenberg, the decision was clear-cut. Regardless of any return-to-office directive, it held little sway. “I reside in a one-bedroom apartment in New York City. It becomes monotonous,” remarked […]
Read More....Institutional Investors’ Retreat: Office Sector Red Line
Institutional investors have significantly reduced their involvement in the office property market, although alternative funding sources are stepping in to partially fill the void. According to a recent analysis by […]
Read More....Anticipate an Increase in Tax Appeals Amidst Growing Discrepancies Between Office Valuations and Assessments
Office property owners nationwide are grappling with an additional challenge amidst increased vacancies and diminished demand, which is resulting in reduced building values and subsequently higher property tax bills. The […]
Read More....Amazon Plans to Cut Leases and Shrink Office Space
Amazon (AMZN), the renowned tech and e-commerce behemoth, is devising a strategy aimed at saving $1.3 billion through substantial reductions in office space and the early termination of leases. Over […]
Read More....Office Features’ Impact on Tenant Premiums
In recent years, office tenants nationwide have downsized their real estate holdings, but certain building features not only retain tenants but also command premium rents. Amenities like roof terraces, sky […]
Read More....Increase of Medical Office Leases in New York
More New Yorkers can anticipate the arrival of medical providers in their neighborhoods soon. According to a report by JLL, the medical office inventory in New York City reached 6.3 […]
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