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October 20, 2020

This Week's N.Y. Deal Sheet

New York City office leasing has started to pick up, and cobwebs are also shaking loose in the construction financing market.

TOP LEASES

This Week's N.Y. Deal Sheet

The performing arts college and conservatory American Musical & Dramatic Academy inked a 10-year 34K SF lease across four floors at Zar Property NY’s 250 West 54th St. in the Theater District, Zar announced. The school will take up the 10th, 11th, 12th and penthouse…

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Top Stories on Bisnow.com

Pandemic Out-Of-Office Shift Has Lessons for Long-Remote CRE Workers Pandemic Out-Of-Office Shift Has Lessons for Long-Remote CRE Workers
Foxconn's Wisconsin Plans Shrunk From Factories To Coworking To Storage Foxconn's Wisconsin Plans Shrunk From Factories To Coworking To Storage
Marcus & Millichap Snaps Up Mission Capital Advisors Marcus & Millichap Snaps Up Mission Capital Advisors
Can CRE Shake Its 'Mad Men' Office Culture Before Losing Next Generation Of Talent? Can CRE Shake Its 'Mad Men' Office Culture Before Losing Next Generation Of Talent?
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NYC's Government Is Planning To Bring Back Some Workers By The End Of The Year

NYC's Government Is Planning To Bring Back Some Workers By The End Of The Year

New York City Mayor Bill de Blasio is mulling bringing a quarter of the city's government workforce back to the office in the next two-and-a-half months.The government is the biggest employer in New York City and the largest occupier of office space, and it could bring 25% of its workers…

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Coworking Operators Leaning More On Daily Users To Boost Occupancy

Coworking operators have seen massive drops in business, as the coronavirus has prevented many from stepping foot into an office in months.

That has some operators shifting focus to more short-term users, including those who rent by the day, as a way to drive business during the pandemic. The shift may become a long-term fixture in the industry, experts say.

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In Case You Missed It...

Coworking Firms Are Figuring Out How To Make It To Greener Pastures Coworking Firms Are Figuring Out How To Make It To Greener Pastures
MaryAnne Gilmartin's Firm Lands $173M Construction Loan For Mixed-Income Chelsea Project MaryAnne Gilmartin's Firm Lands $173M Construction Loan For Mixed-Income Chelsea Project
'I Don't Have Another Cycle In Me': Long-Term NYC Owners Are Opting To Sell 'I Don't Have Another Cycle In Me': Long-Term NYC Owners Are Opting To Sell
Retail Rents Have Dropped More Than 20% In Parts Of Manhattan As Landlords Get Desperate Retail Rents Have Dropped More Than 20% In Parts Of Manhattan As Landlords Get Desperate
Adam Neumann Has Returned To CRE To Invest In A Multifamily Services Startup Adam Neumann Has Returned To CRE To Invest In A Multifamily Services Startup
 
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Want To Make More Money? Listen To These Nobel Prize Winners And Bring Transparency To Your Sales Process

 

When you sell a piece of real estate, are you using the process that will get the highest price possible? The work of two U.S. academics who last week won the Nobel Prize for economics suggests you almost certainly aren’t.

Stanford University’s Paul Milgrom and Robert Wilson won the prestigious prize for their work on auction theory and how the design of auctions can be changed to maximise the price paid for an asset. A close look at their research suggests the way real estate is typically sold in the U.S. and UK is not designed to get the highest price possible. And those weaknesses in the property sales process, in particular the lack of transparency, could be holding the growth of the sector back.

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