Blog

Commutes Contribute to Rising Office Availability

Long, Expensive Treks Downtown Linked to Reduced Demand

November 21, 2024
by Phil Mobley CoStar News

Blog

Silverstein, Developer That Remade the World Trade Center, Plans Its First Office Conversion

Silverstein Properties, known for reviving New York's World Trade Center after Sept. 11, and Metro Loft Management bought a 30-story building in the Financial District for $172.5 million for what's billed as one of the city's largest office-to-residential conversions.

November 21, 2024
by Andria Cheng CoStar News

November 21, 2024
by Andria Cheng CoStar News

Collecting Dust: Large Office Spaces Are Left Languishing with Few Takers

In New York, it is well established that supply has continued to outpace demand across the office sector.

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November 21, 2024
by Victor Rodriguez CoStar News

Tech Workers Estimated to Need 20% Less Office Space Because of Hybrid Work, Cutbacks

Companies hiring tech workers across North America can expect to need 20% less space for a 500-person office than previous decades as layoffs and other cost cuts have joined remote and hybrid work of late as a bigger part of the industry norm.

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November 21, 2024
by Victor Rodriguez CoStar News

Job Growth in New York Fueled by Modest-Earning Industries

The latest jobs data from the Bureau of Labor Statistics highlights possible future issues for New York’s office and multifamily buildings because of the lack of jobs added in high-earning industries.

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November 21, 2024
by Katie Burke CoStar News

TikTok Deploys Return-to-Office Tracking App as Part of Latest Attendance Mandate

While companies across the country are ramping up efforts to get employees back to the office with mixed results, social media platform TikTok is trying a different approach: an attendance-tracking app.

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November 21, 2024
by Victor Rodriguez CoStar News

Near- and Long-Term Outlook for New York Office Sector Is Bearish, Poll Finds

A poll conducted during a recent CoStar New York office webinar found widespread bearishness for the city’s office sector in both the near and long term.

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November 21, 2024
by Victor Rodriguez CoStar News

Manhattan Named the Nation’s Most Expensive Place To Live by New Report

New York City’s Manhattan borough is the most expensive place to live in the United States, a new report shows.

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November 21, 2024
by Andria Cheng CoStar News

Goldman Sachs Again Urges Employees To Work From Office Five Days a Week

Investment banking giant Goldman Sachs, which already has signaled it wants employees in the office five days a week, is nudging them again to follow through as data shows the U.S. return-to-office rate still struggles to cross major thresholds, especially on Fridays.

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November 21, 2024
by Victor Rodriguez CoStar News

Many New York Neighborhoods To Be Affected by Potential WeWork Collapse

WeWork recently warned in its latest earnings statement that “substantial doubt exists" about its ability to continue. The global flexible workspace provider noted an urgency to improve liquidity and profitability over the next 12 months.

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