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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 »

The Wealthy Are Leaving New York As City Undergoes Monumental Demographic Shift


The New York metropolitan area lost 70,000 people during the coronavirus pandemic, equating to tens of billions in lost income for the city. In total, about 3.57 million people left the city from Jan. 1 through Dec. 7, Reuters reported, citing data from Unacast. Around 3.5 million people moved in during that time; however, they… Read more »

A long road ahead for office landlords


The availability of office space in the biggest markets around the country hit new highs in recent months, as a growing number of tenants look to weather the pandemic and economic fallout by subleasing space. At the same time, struggling hotels and retail assets are being converted into new offices, adding to a potential oversupply… Read more »

NYC’s biggest real estate finance deals of 2020


New York’s commercial real estate market took a beating in 2020. In one indicator, the 10 largest investment sales of the year totaled $5 billion, a 37 percent drop-off from the $8 billion the previous year.  Not surprisingly, finance deals dropped off considerably this year, as well. The 10 largest loans in New York totaled… 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

Not In My Back Highway: Inside the Fight to Rebuild the BQE in Brooklyn Heights


As the Brookyn-Queens Expressway (BQE) approaches 80 years old, the city has to decide what to do with the triple cantilever. DOT recently determined that, within five years, the cantilever will become structurally unsound and unable to carry the current amount of traffic. The agency is mulling whether it should be repaired in stages, rebuilt… Read more »

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 »

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