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Understanding Different Types of CRE Leases


Leasing occupies its own particular corner of commercial real estate landscape, complete with specialized practitioners who represent tenants and landlords big and small. And while it’s the giant-square-footage commercial property transactions with complex clauses that make the headlines, it’s the smaller leases that make up bread-and-butter negotiations. Regardless of size, however, commercial lease agreements generally… Read more »

Commercial Real Estate Is Slowing Down in Q3 2022


After the strong rebound for the U.S. economy in 2021, growth in 2022 has slowed in the face of rising inflation, the household income squeeze, and geopolitical events. While the economy continues to deal with elevated inflation, data shows a slowdown in the growth of commercial real estate. Demand for apartments and office spaces is… Read more »

The Commercial Real Estate Market: Crash, Train Wreck, Or Apocalypse?


Dire warnings about commercial real estate appear almost daily these days. While office markets are stressed due to increased working from home, some real estate professionals see an increasingly bifurcated market, divided “into haves and have-nots.” Investors, renters, and cities—especially those with older, declining buildings— will need to pay close attention in the coming months… Read more »

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 »

How warehouses are taking over the U.S.


For every Cyber Monday purchase, there is a warehouse employee packing up those soon-to-be presents. The big online shopping holiday comes amid a warehouse shortage across the United States as distribution center vacancy rates are at all-time lows. Nearly 96% of existing industrial space is in use, according to commercial real estate services company JLL…. Read more »

NYC Commercial Real Estate Brokers Say They’ve Never Been More Confident


Even in light of the slew of existential threats facing the industry, commercial brokers’ confidence is on the rise. The Real Estate Board of New York’s quarterly real estate broker confidence report showed its Current Conditions Index for commercial brokers spiked to hit a record high of 36, up from 20 the quarter before and… Read more »

Forrester: Physical stores to account for 72% of U.S. retail sales in 2024


Physical retail continues to drive the bulk of retail sales — and will for quite some time. Despite all the attention given to e-commerce, 72% of U.S. retail sales will still occur in brick-and-mortar stores in 2024, according to new research from Forrester. Even during pandemic-induced mandatory shutdowns and with additional safety concerns, consumers have… Read more »

Why Commercial Rent Controls Are a Bad Choice for New York City


by Neil A. Dolgin In my last post, Factors Shaping the Future of Commercial Real Estate in NY, I made the point that commercial real estate throughout the city is at risk as the climate for doing business is becoming increasingly difficult. While landlords are trying to recover from mounting losses due to the pandemic… Read more »

Value of NYC Office Buildings Drops by $29B During Pandemic


The pandemic’s impact on New York City’s office market might be worse than anyone thought. The coronavirus erased years of growth in the city’s office sector, and, along with it, $28.6 billion in market value and more than $850 million in property taxes in the city’s 2022 fiscal year, according to a report from New… Read more »

New Yorkers brought NYC back despite hysteria over the Delta variant


If New York City is to be saved from COVID-19, it will be no thanks to the politicians, bureaucrats and big-business leaders who once upon a time we might have turned to for leadership. Instead, it will be entirely due to Big Apple residents and visitors who are loving the place with their growing presence… Read more »

Developer to break ground on first brand-new Dumbo office building in 100 years


Anyone can boldly announce plans for future office buildings that have no official groundbreaking dates. It’s another to actually start construction amid the lingering pandemic when the city’s overall office market continues to see record-high vacancy rates. On Sept. 14, developer Edward J. Minskoff and JP Morgan Global Alternatives will take the plunge on 29… Read more »

Mayor Unveils Plan to Prop Up Crumbling BQE Until 2040


It’s been five years since the last fight over New York City’s most controversial development tax break — 421a — and developers are already preparing for the worst when the current version of the tax exemption expires in June 2022. No one in the real estate industry knows what the state legislature will do. Will… Read more »

Here’s How CRE Sales Can Truly Return to Pre-Pandemic Levels


by Neil A. Dolgin The Wall Street Journal (WSJ) recently reported on investors who are diving back into commercial real estate and driving this year’s sales volume to pre-pandemic levels. Combined with lower interest rates, they are reporting a renewed optimism that the worst of the pandemic may be behind us. Driving that conclusion is… Read more »

New York City’s small businesses are facing a pandemic-altered commercial real estate landscape 


Despite the uncertainty surrounding the ongoing spread of the COVID-19 delta variant, certain opportunistic retailers in New York City have been able to take advantage of tenant-favorable market conditions, successfully negotiating free rent, flexibility on term length and percentage-rent deal structures, and other previously unthinkable extras. As the COVID-19 pandemic has turned New York City’s… Read more »

Food & beverage fortifying commercial NYC real estate market


Shrugging off the pandemic’s impact on sales, supply and hiring, food-and-beverage uses continue to lead all retail-leasing categories in the Big Apple – and the lead even grew larger over last year. We had a look at some not-yet-released data which show the extraordinary resilience of edibles and drinkables in today’s historically challenged retail-leasing market…. Read more »

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