REBNY Report Shows New York City Construction Activity Outpacing Year-Over-Year Totals
The Real Estate Board of New York (REBNY), the City’s leading real estate trade association, today released its Quarterly New Building Construction Pipeline Report for Q2 2022. Construction activity in Q2 2022 again outpaced historical averages. Offering good-paying jobs and essential for attracting and retaining investment, employers and residents, this construction activity represents significant progress… Read more »
This Time, Corporate Executives Mean Business On The Return To Office
Leaders at major companies across the U.S. want workers back this week, and they mean it this time. Labor Day 2022 is the latest, and starkest, line in the sand drawn yet by corporate executives who think their workers should be spending more time in the office. Companies have been trying to lure workers back… Read more »
How Today’s Economy is Affecting Commercial Real Estate
by Neil A. Dolgin Fall has arrived with an economy still finding its way. There is low unemployment which bodes well, but the challenges of high interest rates and inflation are increasing concerns about the possibility of a recession. Interest rates are already up 2% this year, and inflation is still soaring despite a downturn… Read more »
Commercial Real Estate Is Facing a Triple Threat: Interest Rates, Inflation, and Recession
Commercial property sectors, other than office, have recovered well after the shock of the pandemic. Generational demographics and a particularly robust job market have sustained demand, and rents and occupancy are continuing to rise, albeit at a slower pace than last year. The fundamentals are good, yet property investors are appropriately nervous. They face the… Read more »
After Slowdown in Property Sales, ‘Repricing’ Becomes This Summer’s Dreaded Word
Summer lulls are nothing new in commercial real estate, but this year’s slowdown in deals is more pronounced because of one word that has defined the season: repricing. Rising interest rates, inflation and worries of a recession have caused a reset on prices, prompting sellers to accept a less satisfying price or pull properties from… Read more »
VC Giant Plans $200M Fund To Back Real Estate Tech That Fights Climate Change
The biggest venture capital firm in PropTech is planning a fund to back firms that are creating technology that will help the real estate sector reduce its carbon footprint. Fifth Wall said last week it is looking to raise $200M for its Carbon Impact Fund. It said the built environment is the single-largest contributor to… Read more »
Brooklyn Office 4Q: Rents remain constant as new developments enter the market
In the Brooklyn office market in 4Q 2019, the average asking rent ended the fourth quarter at $52.33/SF, down 0.9% from the prior quarter but still 0.7% higher from this time last year, according to a report on the Brooklyn Office Market (4Q) from Newmark Knight Frank. The availability rate rose 30 basis points to… Read more »
Forget The Last Mile: New Jersey Is Building Big To Meet Industrial Demand
New Jersey continues to see a growing number of new industrial buildings to meet increasing demand. Distribution centers in Northern and Central New Jersey continue to be snapped up almost as soon as they are made available, no matter the size. Industrial rents in the region rose slightly from the second to third quarter, continuing… Read more »
Commercial Market Much Stronger Than Headlines Imply
Over the past decade, New York City has experienced a period of strong economic growth driving an increase in jobs, commercial investment, and unprecedented demand to live and work in the five boroughs. As a result of this economic expansion our commercial real estate market continues to thrive and poised for success for the remainder… Read more »
Commercial Real Estate Investing 101: How to Get Started
If you’re looking to get into commercial real estate, FortuneBuilders offers advanced and comprehensive investing education courses and guides that contain virtually everything you need to know to get started. “According to the NCREIF Property Index (NPI), “the top-performing CRE sector right now is industrial.” Comprised of warehouses, manufacturing facilities, refrigeration and storage assets, data… Read more »
Amid Slumping Sales And Tightening Regulation, Medical Assets Could Be NYC’s Real Estate Darling
Technological disruption has reshaped how healthcare is provided, along with where medical facilities are built and designed. Medical procedures and treatment are now increasingly delivered in ambulatory and outpatient centers, as opposed to hospitals, and consumers often want convenient care delivered in a retail-like environment. All these factors are good news for real estate, experts… Read more »
Investors and Stakeholders Still Maintain and Strong Outlook for Long Island City
Long Island City’s commercial real estate market has seen its fair share of challenges. For years it has been flooded with luxury rental units, faced high office vacancy rates, few retailers and the very public tumult of the Amazon HQ2 deal collapse. But investors and stakeholders in the neighborhood still maintain a strong long-term outlook…. Read more »
Moody’s National Office Market – Q3 Trends – NYC Vacancy Declined
According to Moody’s Analytics REIS National Office Market Trends for Q3: The Office vacancy rate was flat in the quarter at 16.8%. In the third quarter of 2018, it was 16.7%. Overall vacancy has declined only 0.3% in the last five years. New York City saw steady net absorption as vacancy declined 0.2% to 7.9%,… Read more »
The 10 Trends That Will Shape Real Estate in 2020
Take a look at 10 trends that are expected to shape real estate in 2020 in a report from the Urban Land Institute. Curbed.
Top Execs Discuss the Current and Future Effects of Technology on CRE
The Commercial Observer’s Partner Insights team recently held a webinar on technology’s impact on commercial real estate. The discussion includes the importance of new broker tools and predictive analytics. Commercial Observer
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 »