CategoryCommercial

I've been posting commercial office price drops here fairly regularly and the anecdotal drop in value is hovering around twothirds of the prepandemic value (before WFH was supercharged). The most recent commercial office sale in Manhattan was a 67% discount from a 2018 purchase. This building, 321 West 44th Street, ironically houses the headquarters of the Commercial Observer, a widelyread...

Because the tether between home and work locations was broken by Work From Home (WFH), the damage to the commercial office market is unlikely to spill over into residential housing. Because leasing rates are down sharply.... and landlords can't price rents too low or they can't pay their debt service so they wait and hope things get better...yet WFH is not going away. Sure, it may rise and fall...

It's not just about endless shrimp driving Red Lobster to bankruptcy. It was a land play and the new owner forced Red Lobster to pay wildly high rental rates on its land. Did I tell you that I used to be a lobster fisherman? I sold my boat a few years ago but I lay claim to catching the most expensive lobster on the northeastern seaboard (when you add the cost of the boat, gas, insurance, the...