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May 18, 2020

Even after the crisis eases, companies may let workers stay home. That would affect an entire ecosystem, from transit to restaurants to shops. Not to mention the tax base. Before the coronavirus crisis, three of New York City’s largest commercial tenants — Barclays, JP...

May 18, 2020

In late 2019, New York’s office leasing market resembled a Louboutin sample sale with giant companies in a frenzy to drop cash on pricey new digs. Facebook inked a deal for 1.5 million square feet in the mega-development Hudson Yards while e-commerce giant Amazon turne...

May 11, 2020

After a dismal six weeks, Manhattan’s luxury market is showing signs of movement. Six homes priced above $4 million went into contract in the borough last week, according to the latest market report from Olshan Realty. That was up from just one the week before. While t...

May 11, 2020

Faced with mounting pressure from tenant advocates, Gov. Andrew Cuomo has extended New York’s eviction moratorium another two months until August. The measure builds on a March 20 order that prohibits residential and commercial evictions statewide through June. Now, th...

May 11, 2020

In late April, about 60 agents got together in a virtual conference room for a virtual open house. Their experiences with the new process were varied. “I feel like I’m inside an acid trip,” one agent wrote in a private text, according to the New York Times. Developers...

May 4, 2020

Starting next week, New York will gradually start to reopen, with real estate businesses among the second phase of sectors permitted to open their doors. Gov. Andrew Cuomo said on Monday that real estate, retail, finance, insurance, administrative support and professio...

May 4, 2020

Commercial Observer convened some of the great minds of the real estate industry for a virtual Midtown Forum to talk through the challenges and possibilities that lie ahead, after the full-shutdown stage of the coronavirus pandemic comes to an end, but before we return...

May 4, 2020

Borrowers continue to be impacted by the coronavirus as many have been informed that several banks, bridge lenders and CMBS programs are unwilling to close on their loan commitments or have dramatically changed the loan terms.  If leading market indicators continue to...

May 4, 2020

Do four high-end contract signings in Brooklyn count as a busy week? At the moment, perhaps. The four deals were for two condos, a co-op and a townhouse, according to the latest report from Compass. The report looks at homes in the borough asking $2 million or more bas...

April 27, 2020

As the government pumps another $310 billion into its latest paycheck-backstop program, critics are pointing the finger at some large companies that have received loans designed to help keep small businesses afloat. Big firms like Dallas-based hotelier Ashford Inc. and...

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Manhattan Faces a Reckoning if Working From Home Becomes the Norm

May 18, 2020