Metro By Carl Campanile Published Nov. 5, 2023, 12:33 p.m. ET Foot traffic in New York City’s business districts is still down 33% from pre-COVID-19 levels, making it one of the slowest recovering cities in the country, according to a recent survey. A study by the University of Toronto analyzed foot traffic in major cities …
Experience the awe-inspiring journey of the new church-and-office building on Billionaires’ Row, a true gift from heaven. After overcoming challenging setbacks, the “boutique” tower at 125 W. 57th St. is now soaring towards its 440-foot, 26-story height. This remarkable project, brought to life by Ken Horn’s and Brian Ray’s Alchemy-ABR Investment Partners in partnership with …
There is a greater number of employees working in New York City offices than commonly believed. According to a survey released by the Partnership for New York City, 58% of Manhattan office workers are present on an average weekday, an increase from 52% in late January 2023 and 49% in September 2022. These figures differ …
Landlords in New York City aren’t the only ones frustrated with Kastle Systems’ Back-to-Work Barometer, which claims to track physical office occupancy. The President/CEO of Philadelphia’s Center City business improvement district, Paul R. Levy, expressed his anger over a recent Wall Street Journal article that labeled downtown Philly as “one of the emptiest office districts …
Elon Musk’s recent publicity stunt to rebrand Twitter by installing a strobe-lit “X” on top of the company’s San Francisco headquarters has faced backlash from neighbors, leading to the removal of the installation. In a 19-second video, Musk showcased the illuminated logo pulsating in the night sky, expressing his excitement. However, many Bay Area residents …
In the city of San Francisco, both the commercial and residential vacancy rates have hit record highs. This has resulted in the abandonment of many large tech buildings, including Google’s massive 1.4-million-square-foot office space that remains on the market for sublease. Other notable tech companies like Meta and Roku are also attempting to sell their …
In the summer of 2022, the office tower at 787 Seventh Avenue, spanning 1.7 million square feet, had an occupancy rate of less than 20%. However, recent developments show a significant improvement in the building’s occupancy. According to Howard Fiddle, the leasing agent for 787 Seventh, the building is now “mostly full except on Fridays,” …
Despite the daunting record of Manhattan’s 21% office availability, there are a few promising signs in the market. SL Green recently sold a 49% stake in 245 Park Ave., valuing the building at a remarkable $2 billion. Additionally, Tishman Speyer and Larry Silverstein successfully refinanced their office tower at 11 W. 42nd Street with a …
In 2023, the landscape of build-your-own fast-casual lunches will feature a plethora of gourmet options. From wild Alaskan salmon to harissa honey chicken, cauliflower shawarma to seasonal roasted zucchini, and topped with preserved lemon vinaigrette, za’atar bread crumbs, creamy vegan feta, and skhug, the possibilities are endless. However, regardless of your choice, one thing will …
Are you willing to entertain the idea that New York City is caught in an “urban doom cycle”? It may seem plausible if you ignore the undeniable facts. Let’s consider the metric of “major crimes” used by the NYPD, which is skewed due to the surge in auto thefts, while the crimes that truly frighten …