office
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 […]
Read More....Fresh Incentives are Targeted at Kickstarting the Conversion of Office Buildings
For years, municipalities have utilized incentives to stimulate desired investments or address persistent issues requiring private-sector involvement. Presently, city officials are rolling out or enhancing programs to promote office-to-residential conversion […]
Read More....The flight-to-Quality Trend in the Office Market has Unique Nuances
The emphasis on state-of-the-art “trophy” office spaces is often highlighted as a primary factor influencing corporate site decisions, particularly in the post-Covid-19 era. This preference may primarily stem from the […]
Read More....The Conversion of Philadelphia’s Office Buildings Needs to Commence Immediately
The COVID pandemic has left an indelible mark on our collective memory, reshaping the way people work and where they work. In the Philadelphia area, the blending of home and […]
Read More....New Rules for Office Dress Code
As companies recall employees to the office, many are adopting a more relaxed dress code in exchange for the return commute, according to Andy Medici of The Playbook. A survey […]
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