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WHERE TO FIND NYC’s BEST VALUES IN OFFICE SPACE Leasing activity is up throughout Manhattan as companies push for and embrace returning to the office. While rents and concessions have seen significant gains in some markets like Grand Central others have been slow to rebound. So the question is where’s the value? Penn Plaza/ […]
NYC PROPERTY TAX UPDATE What it means for office tenants New York City recently announced tentative property tax assessments for 2023 and the assessment for Manhattan office properties increased by 9.21%. The jump wasn’t a complete surprise as we’ve seen a rebound in rents and increase in leasing activity in 2021 but this could be […]
As we realistically plan for a post-Covid working environment, the NYC office landscape is more complex than any headlines can portray, materially different than any projections from experts, and markedly different than than this time last year. Throughout the last year, the sentiment has been that companies will embrace a strong work from home (WFH) […]
Businesses have many reasons to explore subleasing their office space. The most common are that they are growing out of their or they are downsizing. Either way, having too much or too little space will have a significant impact on a business and it is imperative to effect a sublease quickly and at the most […]
Have you heard? Job cuts, immediate divestment, and rollback of services A class-action suit accusing former CEO Adam Neumann and current Softbank CEO Masayoshi Son was filed in the Superior Court of San Francisco late last week. The lawsuit alleges that top WeWork Directors breached their fiduciary duty to minority shareholders when they divested of […]
Rent’s in the Nation’s largest office market have remained fairly stable over the past year despite a record low unemployment and continued expansion of tenants. Large tech giants like Google, Facebook, and Amazon, have dominated the market with unprecedented growth year over year. It’s also been another banner year for coworking providers like WeWork, Knotel, […]
It’s hard to deny that retail has had a tough couple of years. The retail market oversaturation has caused mass store closures in 2019 with no end in sight. In 2018, we saw store closures from national and multi-national retailers such as Toys R’ Us, Sears, and Sam’s Club. These closures have resulted in over […]
Before You Sign in NYC Understand Real Estate Tax Liabilities Why its important to understand a building’s tax situation when leasing office space. Most office leases in Manhattan are gross leases meaning that taxes and insurance are included in the base rent and that the landlord will pass through certain increases in building costs. One […]
May 2019 marked the official opening of New York City’s $25 billion mega project, Hudson Yards. With media fanfare and celebrity guest appearances including CNN’s Anderson Cooper and Big Bird, the towering transformation atop an old train depot opened with a bang. As a luxury mixed-use development, Hudson Yards is expected to total nearly 30-million-square-feet […]
The Truth About How WeWork Office Suites Compare to Commercial Office Space If you’re looking for office space for 10 people or less, WeWork office suites may be the quickest and most cost-effective solution for your company. But If you are a growing company between 11 and 250 people, looking to cut operational costs and […]
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