The Perk-Cession Is Under Way at Some Companies (WSJ article)
Attached is an article from The Wall Street Journal entitled “The Perk-Cession Is Under Way at Some Companies” The article states that big companies are not providing as many perks( ie free gym services, lunch etc) This could be attributed to the power shift in the boss-worker dynamic ( ie more candidates for the same Job). As a result, employees will start to work more in the office because the employee may lose their job by working from home.
May 11 – 2023 news:
The Real Deal
How Co-op Boards Inflate Prices to Protect Building Values (therealdeal.com)
Sharif El-Gamal Defaults on Margaritaville Hotel Mezz Loan (therealdeal.com)
FDIC Targets Cross River, Another Regional Bank With CRE Ties (therealdeal.com)
Brookfield CEO Says Don’t Worry About Recent Office Defaults (therealdeal.com)
David Marx to Turn Douglaston Strip Mall Into 330-Unit Project (therealdeal.com)
Ranking NYC’s Most Active Construction Firms (therealdeal.com)
Bisnow
This Week’s N.Y. Deal Sheet (May 5, 2023) (bisnow.com)
Wall Of NYC Multifamily Maturities Forcing More Sellers To Market, Where Buyers Eagerly Await (bisnow.com)
Largest CMBS Office Loan Maturing This Year Reportedly Lands Extension (bisnow.com)
It Must Be Somebody’s Fault: Margaritaville Times Square Faces Foreclosure Auction (bisnow.com)
The Commercial Observer
Office Furniture Giant MillerKnoll Adds 15K SF to 251 Park Avenue South Footprint – Commercial Observer
Mercy College Reups on 125K-SF Campus in the Bronx – Commercial Observer
Investment Advisers Helix Partners Moving to 545 Madison – Commercial Observer
Chinese Variety Store Miniso Opening Times Square Location – Commercial Observer
West Elm Expanding Industry City Outlet to 18K SF – Commercial Observer
Coworking Arts Space Artishouse Opening in Garment District – Commercial Observer
New York Post
NYC commercial properties kept 92% of pre-pandemic value (nypost.com)
Jay-Z begs New York to choose him for Times Square casino (nypost.com)
Crains New York
NYC Deals of the Day: May 12, 2023 | Crain’s New York Business (crainsnewyork.com)
Times Square Margaritaville facing bummer of a foreclosure auction over loan default at Soho Properties site | Crain’s New York Business (crainsnewyork.com)
New York City dangles tax breaks to help fill Manhattan offices plagued by vacancies | Crain’s New York Business (crainsnewyork.com)
New York is the third-most-expensive city for office construction: Cushman & Wakefield | Crain’s New York Business (crainsnewyork.com)
New York office landlords look to food halls to entice back workers | Crain’s New York Business (crainsnewyork.com)NYC Deals of the Day: May 11, 2023 | Crain’s New York Business (crainsnewyork.com)
Bonds Backed by Apartments Are Under Stress as Housing Market Cools – WSJ
The Decline of the Five-Day Commute Is a Boon to Suburban Retail – WSJ
New York YIMBY
Self Storage Facility Nears Completion at 41-47 East 21st Street in Flatiron District, Manhattan – New York YIMBY
KPF’s 520 Fifth Avenue Supertall Continues its Ascent in Midtown, Manhattan – New York YIMBY
One Madison Avenue’s Façade Nears Completion in Flatiron District, Manhattan – New York YIMBY
New York City Football Club Reveals Renderings of 25,000-Seat Willets Point Soccer Stadium in Corona, Queens – New York YIMBY
1 Park Row Rises Above Street Level in Financial District, Manhattan – New York YIMBY
