Commutes Contribute to Rising Office Availability
Long, Expensive Treks Downtown Linked to Reduced Demand
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.
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.
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.
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.
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.
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.
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.
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.
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.
