New York City’s Empty Offices Reveal a Global Property Dilemma
In the heart of midtown Manhattan lies a multibillion-dollar problem for building owners, the city and thousands of workers. Blocks of decades-old office towers sit partially empty, in an awkward position: too outdated to attract tenants seeking the latest amenities, too new to be demolished or converted for another purpose. It’s a situation playing out… 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 »
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 »