Some big employers are giving up square footage as they juggle remote work. That could devastate building owners and cities. Source: New York Times
Posts published in “Real Estate (Commercial)”
Remote Work Is Here to Stay. Manhattan May Never Be the Same.
By Gotham Rex on March 29, 2021
New York City, long buoyed by the flow of commuters into its towering office buildings, faces a cataclysmic challenge, even when the pandemic ends. Source: New York Times
WeWork Will Go Public in a Merger With a SPAC
By Gotham Rex on March 26, 2021
The money-losing office space firm plans to merge with a blank-check company backed by big Wall Street investors. Source: New York Times
Inside Stephen Ross' Plan to Influence New York’s Mayoral Race
By Gotham Rex on March 9, 2021
Stephen Ross, the head of the Related Companies, is organizing a meeting of business leaders to “help us get this mayoral election right.” Source: New York Times
Companies Put Return-to-Work Plans in Motion
By Gotham Rex on March 3, 2021
Many employers are not making a decision until many workers are vaccinated. And some are making plans for “hybrid” work arrangements. Source: New York Times
Gucci Extends Lease in Trump Tower
By Gotham Rex on February 23, 2021
Tiffany and other luxury companies have stepped away from deals with the former president’s organization, but not Gucci. Source: New York Times
Manhattan D.A. Recruits Top Prosecutor for Trump Inquiry
By Gotham Rex on February 18, 2021
The Manhattan district attorney has enlisted a former federal prosecutor who is an expert on white-collar crime to join the team investigating the Trump family business. Source: New York Times
How Covid-19 Left the $25 Billion Hudson Yards Eerily Deserted
By Gotham Rex on February 6, 2021
The largest private development in U.S. history has attracted marquee companies, but is struggling with unsold luxury condos and a mall barren of shoppers. Source: New York Times
‘One Property at a Time’: A City Tries to Revive Without Gentrifying
By Gotham Rex on February 3, 2021
Neighborhoods in Newark are beginning to see a flurry of redevelopment, a decade after the city’s downtown gained vogue. Source: New York Times
What is the Future of Offices When Workers Have a Choice?
By Gotham Rex on January 4, 2021
Some work spaces in central employment districts may become housing, and some housing in residential areas may become work spaces. Source: New York Times
New York’s Real Climate Challenge: Fixing Its Aging Buildings
By Gotham Rex on December 29, 2020
Nearly 70 percent of the city’s total carbon emissions come from buildings. A project to retrofit nine buildings with green technology is pioneering a new solution. Source: New York Times
As Customers Move Online, So Does the Holiday Shopping Season
By Gotham Rex on November 23, 2020
Empty stores are turning into fulfillment centers and the market for warehouse space is booming, as the pandemic rockets the retail industry into its e-commerce future. Source: New York Times
Sheldon H. Solow, Manhattan Real Estate Mogul, Dies at 92
By Gotham Rex on November 17, 2020
He built an empire from scratch, changing the skyline with high-end residential and office towers but leaving his crowning project unfinished. Source: New York Times
These Are the Perks Companies Use to Get Workers Back to Their Offices
By Gotham Rex on October 30, 2020
Free lunch. Discounted parking. Learning pods for children. Some New York City companies are offering incentives to workers who are required to return to the office. Source: New York Times
Manhattan Emptied Out During the Pandemic. But Big Tech Is Moving In.
By Gotham Rex on October 13, 2020
The four companies known as Big Tech — Amazon, Apple, Facebook and Google — now have more than 22,000 employees in the city, with thousands added just this year. Source: New York Times