As reported in Bloomberg, new leases in the fourth quarter dropped 64% YoY to 4.6 million square feet. Average asking rents for the highest-quality offices fell 8.6% to $90.42 a square foot, a decline that doesn’t capture concessions such as free months or tenant-improvement allowances. And, as the graph above indicates, this may just beContinue reading “Office Apocalypse”
Tag Archives: #commercialrealestate
Escape from New York
NYC commercial real estate on increasingly shaky ground? Well, as Kathy Wylde (Partnership for New York City) told Bloomberg: “All the banks, insurance companies, and hedge funds are considering options.” NYC office space available for rent are now at levels not seen since 2003. Where is everyone going? Florida for starters. Just like Goldman. AsContinue reading “Escape from New York”
Econophysics2020 