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January 22, 2021

'Shots In The Arm And Butts In The Seats': Bill Rudin On NYC's Fight To Survive

[Digital Summit] Don't Forget: NYC Affordable Housing Recovery: Accessing Capital & Rebuilding A Better New York Feb. 25

Bisnow's podcast, Make Yourself At Home, hears from members of the commercial real estate industry about how they are managing this new reality and gaining insight into their day-to-day approaches. You can subscribe on iTunes, Spotify and Amazon Music.

'Shots In The Arm And Butts In The Seats': Bill Rudin On New York City's Fight To Survive

In this episode, we speak with Rudin Management CEO Bill Rudin, whose company owns 35 office and residential buildings in the city.A lifelong New Yorker and the third generation to run the family property business, Rudin discusses what needs to happen in the city for it to get back on its…

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Meal Kit Service More Than Quadrupling Footprint In 92K SF Midtown South Lease

Meal Kit Service More Than Quadrupling Footprint In 92K SF Midtown South Lease

A prepared meal kit delivery company is more than quadrupling its headquarters footprint in Midtown South as the demand for at-home meal kits soars amid the coronavirus pandemic. Freshly inked a 92,300 SF lease on the 12th and 13th floors at 63 Madison Ave., George Comfort & Sons announced.…

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Landlords Boosting Tenant Concession Packages As Market Swings In Tenants' Favor

The national office market is suspended in midair, and few landlords or tenants want to sign deals. But behind the scenes, some parties are negotiating, and property owners are showing a willingness to greatly expand tenant improvement allowances and rent abatements, office brokers say.

It’s a sign that when the office market does reignite, tenants will find themselves in a historically advantageous position and can look forward to securing leases that will greatly boost their bottom lines with months of free rent and funds to renovate new offices.

“It’s already happening,” Chicago-based Savills Vice Chairman Lisa Davidson said. “But if I were a landlord, I wouldn’t want to be shouting about it.”

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A New Short-Term Rental Fight Is Simmering In Boston

 

BOSTON — A battle over short-term rentals in Boston is brewing, pitting operators, city leaders and community leaders at odds over what some are calling a loophole in recently passed legislation.

Sonder, a San Francisco-based short-term rental provider, was blocked by a zoning board in November from converting a downtown building into what it calls "executive suites." Mayor Martin Walsh and city councilors pushed back against Sonder's proposal, claiming it could hinder goals to increase the city's affordable housing supply.

The fight pits community groups and city officials against STR companies, which say executive suites aren't a regulatory workaround, but an attractive and beneficial model for pandemic-era travelers.

"There are ways to have nightly rentals, it's called a hotel. There is a zoning category for it,” said Ford Cavallari, chairman of the Alliance of Downtown Civic Organizations. "It’s trying to arbitrage, trying to find loopholes in the zoning code, and that’s just wrong."

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