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| Re: Why NYC could benefit from municipal bankruptcy (1981456) | |||
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Re: Why NYC could benefit from municipal bankruptcy |
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Posted by AlM on Sat Apr 27 11:19:15 2024, in response to Re: Why NYC could benefit from municipal bankruptcy, posted by Peter Rosa on Sat Apr 27 09:44:35 2024. 1. The decrease in rental occupancy will happen gradually. This will allow developers time to convert some of the most suitable office buildings to luxury housing.2. By now there is a lot of hybrid work where people come in 3 days a week. Amazingly, those days tend to be overwhelmingly Tuesday through Thursday. Also, departments have all-hands meetings where everyone has to be there on a given day. So hybrid employers still need space for every employee to have a desk at the same time. 3. Some tenants have over-shrunk their space. I think my employer has. On Tuesdays through Thursdays the space is so crowded as to damage productivity. I won't be surprised if they expand their space by 25%. |
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