During the Pandemic, They Are ‘Other Boroughs,’ Not ‘Outer Boroughs’
When it comes to the New York City investment sales market, the perception is, typically, that Manhattan is king and the outer boroughs are runners-up. However, during the pandemic, this long-standing perception has not been true. My friend, Josh Muss — who constantly reminds me that they are not the “outer boroughs,” they are the… Read more »
How COVID-19 Could Bring New Opportunities for Commercial Real Estate in 2021
by Neil A. Dolgin It’s no secret that the collateral damage to virtually every industry wrought by the pandemic over the past year has been swift and unprecedented. Commercial real estate (CRE) hasn’t been spared. Following the nationwide lockdown last spring, CRE firms both large and small have been forced to downsize, digitize operations and… Read more »
How KDA Has Helped Tenants Weather the Pandemic – and Why Commercial Real Estate May Rebound Faster Than Most People Think
By Neil A. Dolgin Nearly nine months into the pandemic, the long-term impact on commercial real estate is still anybody’s guess as virtually every industry continues to feel the economic fallout. Over the past month in New York City alone where life finally appears to be returning to some normalcy, multiple hotels, including the Times… Read more »
The ‘Dangerous’ Ruling To Cut Down Skyscraper Could Reset Playing Field For NYC Developers
Credit: SJP Properties/Mitsui Fudosan America – 200 Amsterdam A stunning decision from the New York State Supreme Court that could force developers to tear down already-built floors from their Manhattan skyscraper could have massive implications for other buildings in the city under construction — and possibly some that are already built. BISNOW
The 50 biggest NYC office sales of 2019
2019 turned into a pretty good year for New York City’s investment sales sector. Rising rents stoked investors appetite not only in Manhattan, but in Brooklyn, Queens and the Bronx. And tech giants Amazon, Google and Facebook continue to expand their presence in the city, signaling to investors that the industry is thriving in the… Read more »
Resident and Tenant Retention Strategies for 2020
For managers of commercial and residential buildings, retaining tenants and residents is a perennial item on the to-do list. Whether it’s adding new high-tech features or fine-tuning procedures, the time is right to take a hard look at retention strategies for 2020. Owners and property managers must continuously ask themselves a crucial question: What’s the… Read more »
Real estate seeks changes to city’s green buildings bill
In four years, tens of thousands of buildings in New York City will need to meet strict carbon emission caps. But landlords are hopeful that key changes will be made before then. Local Law 97, enacted in May 2019, is part of a push for a 40 percent reduction in citywide emissions by 2030 and… Read more »
Manhattan Office Market Soared To Record Levels Again Last Year
Thanks to several monster lease deals and healthy job growth, a total of nearly 43M SF of office leases were signed in Manhattan in 2019, according to figures from Colliers International. That is the highest level since 2001 and almost 3% higher than 2018, itself a stellar leasing year. Leasing activity was 15% above the… Read more »
Age is Just a Number: A Breakdown of the Age of Manhattan’s Submarkets
Here are some stats on the average office building in Manhattan. • Average age: 68 years old. • Approximately 46% were built prior to World War II (aka “pre-war”) • 30% were built after World War II but before 1980 (aka “post-war”) • 14% of the inventory was built between 1980-1999 (aka “post-1980”) • One… Read more »