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November 3, 2020

This Week's N.Y. Deal Sheet

[Webinar] Learn What Leasing Methods New York Office Landlords Can Use To Improve The Profitability Of Their Assets Nov. 5

As voters lined up at the polls this week, commercial real estate closed some big deals, as November looks to build on October's increase in deal volume.

TOP LEASES 

This Week's N.Y. Deal Sheet

New York University Langone Medical Center renewed its 633K SF lease at Vornado’s One Park Avenue in Midtown South, Colliers’ October office snapshot revealed. The deal is the second-largest office lease of the year, following Facebook’s lease at the Farley Post Office building, also owned by Vornado.The hospital expanded…

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Top Stories on Bisnow.com

Yes, Zoom Meetings Can Help Productivity — With The Right Tactics And Tools Yes, Zoom Meetings Can Help Productivity — With The Right Tactics And Tools
Mall Landlords PREIT, CBL File For Bankruptcy Protection Against A Combined $2.3B Mall Landlords PREIT, CBL File For Bankruptcy Protection Against A Combined $2.3B
23 Million Remote Workers Are Moving To Cheaper Places To Live 23 Million Remote Workers Are Moving To Cheaper Places To Live
COVID And Compensation: How CRE Is Assessing Salaries During Uncertainty COVID And Compensation: How CRE Is Assessing Salaries During Uncertainty
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New York State Has Denied Over 60% Of Rent Relief Applications

New York State Has Denied Over 60% Of Rent Relief Applications

More than 57,000 applications have been rejected from New York’s rent relief program because they didn’t meet the criteria for support, more than 60% of all applicants.A report from the Division of Homes and Community Renewal found 94,000 applications for relief came through between July 16 and Aug. 6,

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Global Investors Don’t Care Who Wins The Election — As Long As There’s A Winner

U.S. presidential elections have always dominated the global media and play an outsized role in conversations around the world. But while the U.S. president might be the most important person in the free world, for international real estate investors deciding whether to invest in the U.S. or other major markets, it really doesn’t make much of a difference who wins the election — so long as the vote provides a clear winner.

“If it’s uncontested, the decision between Trump and Biden doesn’t make much difference,” Tristan Capital Partners Head of Investment Strategy and Research Simon Martin said.

You know what you are getting with the incumbent, President Donald Trump, he said.

“And no one looks at Joe Biden and thinks, my view on investment in the U.S. fundamentally changes. There are so many other factors at play.”

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The Pandemic Has Accelerated Use Of Technology In The Construction Field The Pandemic Has Accelerated Use Of Technology In The Construction Field
Empire State Realty Trust Posts $12.3M Loss In Q3 Empire State Realty Trust Posts $12.3M Loss In Q3
The Real Estate Problem That Could Delay The Coronavirus Vaccine Rollout The Real Estate Problem That Could Delay The Coronavirus Vaccine Rollout
 
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The Permanent Shift To Remote Work Could Create A Race To The Bottom For Office

 

As a host of companies have started pushing their employees to work remotely, they will soon begin to show positive impacts on their balance sheets, saving not just in rent but in energy consumption and office supplies. The relative financial advantage could kick off a race to the bottom in office costs that could have sweeping impacts on the real estate market.

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Taxes, Stimulus, Funding Programs And More: What Could Change For CRE After The Election

As Americans cast their ballots, a pall of uncertainty hangs heavy in commercial real estate. That’s because the outcome of the presidential race between Donald Trump and Joe Biden will have wide-ranging implications for U.S. economic policy and the real estate industry. For the last few months, Bisnow reporters have been chronicling the consequences of this election for real estate — from the top of the presidential tickets to local races and ballot initiatives across the country. Here are 23 of our best election stories to help you navigate Nov. 3 and the road ahead.

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