The City is Coming Back
by Neil A. Dolgin Since the beginning of the COVID-19 outbreak eighteen months ago, New Yorkers have become all too familiar with empty office buildings and store fronts on practically every block. It’s also true that the economic fallout has heightened some already-existing trends as companies and retailers continue to grapple with how to best… Read more »
This major pandemic protection for commercial tenants is coming to an end
After more than a year of pandemic-related tenant protections being enacted and extended, one of the major measures from the city is to expire on Wednesday–and this time it will not be renewed. The legislation set to expire June 30, and known as Intro. 1932, suspended personal liability provisions in leases, which allow landlords to… Read more »
Mall Landlords Look to Charter Schools to Fill Vacant Space
Time for a field trip to the food court. The coronavirus pandemic pushed malls — already struggling to survive a “retail apocalypse” — to the breaking point. But the children, specifically schoolchildren, might be the future, as more malls begin hosting public charter schools in need of more space. Dozens of charter and public schools… Read more »
As New York City Pushes Ahead With Reopening, The Restaurant Industry Remains Imperiled
New York City’s reopening plans have provided a lifeline for the city’s pummeled restaurant industry. But the slow return of patrons and now major staffing problems continue to vex operators still battling to make enough for expenses, including rent. “Many restaurants haven’t been able to pay rent or only paid partial rent over the past… Read more »
How does KDA help clients think out of the box to achieve goals?
by Neil A. Dolgin As owners and managers of dozens of properties throughout NYC and across the US, we know what we want to see from each in terms of revenue, tenant mix, and branding. And we are willing to reimagine our buildings in more competitive ways, especially at a time of renovation, a topic… Read more »
It’s starting to look like New York City will be just fine
As the wealthy fled for the Hamptons, local restaurants shuttered their doors, and Times Square went quiet during the onset of the pandemic, many declared the city dead. But a year after it became the coronavirus epicenter of the world, NYC is starting to shine once again. Despite a seeming exodus of the city’s richest,… Read more »
Q&A With Neil A. Dolgin
What kinds of changes are you seeing in the commercial real estate marketplace post-pandemic… and is this the new normal? Small is the new premium. The market for smaller spaces is active with an influx of commercial customers coming to us with specific needs and expectations that we are trying to meet and exceed through… Read more »
Have empty New York hotels and offices turned into ‘perfect targets’ for commercial real estate developers?
Commercial real estate may have been hit hard this past year due to spikes in remote working and the emergence of “post-COVID ghost towns.” However, has the opportunity for converting empty offices and hotels turned into a feeding ground for developers? Must the solution always result in some form of housing option? In a recent… Read more »
Eight Ways The Biden Tax Plan Could Affect Your Real Estate Business
President-elect Joe Biden’s policies and tax plans are becoming increasingly more relevant as his time in office begins. When it comes to the real estate industry or investing in general, it’s important to pay attention to policies that will affect you as a business owner so you can make the necessary adjustments. The Biden… Read more »
Landlords lead push to get city back to work
Some of New York’s leading commercial landlords are joining the campaign to get the city back to work. Governor Andrew M. Cuomo announced that 21 city landlords are part of his New York Forward COVID-Safe Offices partnership to expand access to COVID-19 testing for employers. As part of the initiative, the landlords have committed to… Read more »
Confidence in Commercial Real Estate Values Varies Widely by Sector
Roughly one year into the coronavirus outbreak, commercial real estate owners are starting to fully price in the effects of the global pandemic. There are endless ways to analyze the impact of the past year on commercial property valuations, but one useful metric is tracking the prevalence of rent gains across the various property types…. Read more »
How Technology is Helping the Property Industry Understand Post-Pandemic Risk
Almost a year into a global health crisis that devastated the world and propelled the nation into an economic recession, the effects of the coronavirus pandemic continue to echo through businesses that thrive at the intersection of people, places, and experiences—an intersection that very much includes commercial real estate. COVID-19 accelerated already rapidly growing trends… Read more »
A Cloudy Crystal Ball For Commercial Real Estate And Office Space
As we pass the grim metric of 500,000 deaths due to Covid-19, analysts are grappling with the pandemic’s long term impacts, including its effect on cities and work. There’s disagreement about the degree of permanent increases in teleworking and homework. But if some office work is shifting permanently to homes, what will that do to commercial and residential real… Read more »
With offices still mostly empty, landlords amp up Covid tests
Creating testing centers for Covid-19 is all part of an effort to lure workers back to offices, which have been largely empty since the pandemic hit almost a year ago, shutting down Manhattan skyscrapers. Landlords are seeking ways to repopulate their buildings after earlier attempts—including beefing up virus safety measures and lobbying the city’s finance bosses—had… Read more »
New York City CRE Sales Reach $11B in H2: REBNY
The Real Estate Board of New York (REBNY), the City’s leading real estate trade association, today reported that broker confidence rebounded in the last quarter of 2020, after three consecutive record lows, as the COVID-19 vaccine continues to roll out throughout the City and State. According to REBNY’s Q4 2020 Quarterly Real Estate Broker Confidence… Read more »
New REBNY Report Shows Broker Confidence in Real Estate Market Experiences an Uptick After Record Lows
The Real Estate Board of New York (REBNY), the City’s leading real estate trade association, today reported that broker confidence rebounded in the last quarter of 2020, after three consecutive record lows, as the COVID-19 vaccine continues to roll out throughout the City and State. According to REBNY’s Q4 2020 Quarterly Real Estate Broker Confidence… Read more »