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(1988190)

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Are your antidepressants handy? Good.

Posted by Peter Rosa on Fri Jul 5 13:20:39 2024

From the financial company Moody's, as related on the Calculated Risk economics site:

The office sector set a record vacancy rate at 20.1%, breaking the 20% barrier for the first time in history. The slow bleed occurring in the office sector has led to a steady rise in the vacancy rate as permanent shifts in working behavior have outlasted the initial wave of the pandemic four years ago. Q2’s record rate of 20.1% is up from 19.8% the previous quarter and represents the third straight record-breaking quarter beyond our previous historic peaks of 19.3% set in 1986 and 1991.

Note the use of the word "permanent." Without doubt a deliberate choice.
As best I can determine Moody's itself is on a hybrid work schedule with employees required to be in the office at least 2X per week.

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(1988192)

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Re: Are your antidepressants handy? Good.

Posted by AlM on Fri Jul 5 13:55:35 2024, in response to Are your antidepressants handy? Good., posted by Peter Rosa on Fri Jul 5 13:20:39 2024.

You do realize, don't you, that a good part of this is due to reductions in square feet per employee?

And the MTA doesn't lose money if people come in 3-4 days per week. Monthly tickets are considerably cheaper than the cost of coming in 5 days a week on single ride tickets, so the 3-4 day a week commuters don't save anything.

The city does lose some real estate tax revenue, admittedly.


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(1988193)

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Re: Are your antidepressants handy? Good.

Posted by LuchAAA on Fri Jul 5 14:00:32 2024, in response to Re: Are your antidepressants handy? Good., posted by AlM on Fri Jul 5 13:55:35 2024.

Sales taxes are a big loss.



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(1988194)

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Re: Are your antidepressants handy? Good.

Posted by Easy on Fri Jul 5 14:05:22 2024, in response to Are your antidepressants handy? Good., posted by Peter Rosa on Fri Jul 5 13:20:39 2024.

20% is only slightly higher than downtown LA rates pre-pandemic.

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(1988197)

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Re: Are your antidepressants handy? Good.

Posted by Catfish 44 on Fri Jul 5 14:23:24 2024, in response to Are your antidepressants handy? Good., posted by Peter Rosa on Fri Jul 5 13:20:39 2024.

Antidepressants? If that depresses you you have my sympathy.

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(1988200)

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Re: Are your antidepressants handy? Good.

Posted by Orange Blossom Special on Fri Jul 5 14:30:17 2024, in response to Are your antidepressants handy? Good., posted by Peter Rosa on Fri Jul 5 13:20:39 2024.

" first time in history"

How far back does this "history" go?

It should be 72% by now. We're taking too long.

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(1988210)

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Re: Are your antidepressants handy? Good.

Posted by Elkeeper on Fri Jul 5 15:34:14 2024, in response to Re: Are your antidepressants handy? Good., posted by LuchAAA on Fri Jul 5 14:00:32 2024.

The Financial District around Broad & Wall Sts is desolate, except for rush hours.

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(1988211)

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Re: Are your antidepressants handy? Good.

Posted by mtk52983 on Fri Jul 5 16:15:13 2024, in response to Re: Are your antidepressants handy? Good., posted by Catfish 44 on Fri Jul 5 14:23:24 2024.

He is depressed that there are not more SCA’s potentially stealing his precious solo seat on M3. But let’s hear how good the Gigafactory is.

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(1988213)

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Re: Are your antidepressants handy? Good.

Posted by LuchAAA on Fri Jul 5 16:22:30 2024, in response to Re: Are your antidepressants handy? Good., posted by Elkeeper on Fri Jul 5 15:34:14 2024.

I agree.

But why did Whole Foods invest millions in a
Financial District location? I wonder because they strategically open based on studies and data, like most chains.

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(1988214)

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Re: Are your antidepressants handy? Good.

Posted by Catfish 44 on Fri Jul 5 16:26:39 2024, in response to Re: Are your antidepressants handy? Good., posted by mtk52983 on Fri Jul 5 16:15:13 2024.

There ya good. Good one!

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(1988215)

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Re: Are your antidepressants handy? Good.

Posted by AlM on Fri Jul 5 16:56:48 2024, in response to Re: Are your antidepressants handy? Good., posted by LuchAAA on Fri Jul 5 16:22:30 2024.

People buy groceries near their home, not near work. There are quite a few residential buildings downtown, and more office buildings being converted all the time. Presumably Whole Foods had the census numbers and figured that they worked out.



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(1988217)

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Re: Are your antidepressants handy? Good.

Posted by https://salaamallah.com/ on Fri Jul 5 17:28:43 2024, in response to Are your antidepressants handy? Good., posted by Peter Rosa on Fri Jul 5 13:20:39 2024.

BIG IAWTP


THX

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(1988223)

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Re: Are your antidepressants handy? Good.

Posted by Orange Blossom Special on Fri Jul 5 19:31:06 2024, in response to Re: Are your antidepressants handy? Good., posted by mtk52983 on Fri Jul 5 16:15:13 2024.

I miss the SCA posts.

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(1988229)

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Re: Are your antidepressants handy? Good.

Posted by Catfish 44 on Fri Jul 5 20:00:16 2024, in response to Re: Are your antidepressants handy? Good., posted by AlM on Fri Jul 5 16:56:48 2024.

I buy groceries by work.

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(1988232)

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Re: Are your antidepressants handy? Good.

Posted by Catfish 44 on Fri Jul 5 21:22:11 2024, in response to Re: Are your antidepressants handy? Good., posted by https://salaamallah.com/ on Fri Jul 5 17:28:43 2024.

You’re on happy pillls too? 💊 💊💊💊💊

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(1988234)

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Re: Are your antidepressants handy? Good.

Posted by Peter Rosa on Fri Jul 5 21:42:16 2024, in response to Re: Are your antidepressants handy? Good., posted by AlM on Fri Jul 5 16:56:48 2024.

People buy groceries near their home, not near work. There are quite a few residential buildings downtown, and more office buildings being converted all the time.

Older Downtown office buildings with their smaller floorplates are far more suitable for residential conversion than newer Midtown ones in which much of each floor is far from a window.

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(1988235)

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Re: Are your antidepressants handy? Good.

Posted by Peter Rosa on Fri Jul 5 21:48:32 2024, in response to Re: Are your antidepressants handy? Good., posted by Orange Blossom Special on Fri Jul 5 19:31:06 2024.

I miss the SCA posts.

I haven't ridden the LIRR on a regular basis for many years as I live and work on Long Island and drive. My most recent ride was a relatively short trip a couple of weeks before Christmas.

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(1988237)

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Re: Are your antidepressants handy? Good.

Posted by Peter Rosa on Fri Jul 5 21:53:20 2024, in response to Re: Are your antidepressants handy? Good., posted by AlM on Fri Jul 5 13:55:35 2024.

The city does lose some real estate tax revenue, admittedly.

With fewer commuters the street-level retailers that served that market are suffering if they haven't closed already.


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(1988238)

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Re: Are your antidepressants handy? Good.

Posted by LuchAAA on Fri Jul 5 22:03:23 2024, in response to Re: Are your antidepressants handy? Good., posted by AlM on Fri Jul 5 16:56:48 2024.

I mostly agree with you but Whole Foods does follow a different business model compared to local supermarkets like Shop Rite or Stop & Shop.




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(1988243)

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Re: Are your antidepressants handy? Good.

Posted by 3-9 on Sat Jul 6 00:58:01 2024, in response to Re: Are your antidepressants handy? Good., posted by Peter Rosa on Fri Jul 5 21:53:20 2024.

Many of them already closed during the pandemic for that reason. The retail spaces in Lower Manhattan are retrenching. For some good news, Century 21 is back in business, and is as popular as ever. Another good sign is that the number of halal carts around Zuccotti Park is back to its pre-pandemic number.

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(1988244)

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Re: Are your antidepressants handy? Good.

Posted by 3-9 on Sat Jul 6 00:59:46 2024, in response to Re: Are your antidepressants handy? Good., posted by AlM on Fri Jul 5 16:56:48 2024.

That Whole Foods seems to be pretty popular too.

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(1988246)

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Re: Are your antidepressants handy…??

Posted by Olog-hai on Sat Jul 6 01:16:56 2024, in response to Are your antidepressants handy? Good., posted by Peter Rosa on Fri Jul 5 13:20:39 2024.

You take antidepressants?

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(1988256)

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Re: Are your antidepressants handy? Good.

Posted by Fisk Ave Jim on Sat Jul 6 07:53:57 2024, in response to Re: Are your antidepressants handy? Good., posted by mtk52983 on Fri Jul 5 16:15:13 2024.

Who/what is SCA??

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(1988257)

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Re: Are your antidepressants handy…??

Posted by Catfish 44 on Sat Jul 6 08:14:02 2024, in response to Re: Are your antidepressants handy…??, posted by Olog-hai on Sat Jul 6 01:16:56 2024.

💊💊💊💊
🥚🥚🥚🧺🧺🧺

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(1988259)

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Re: Are your antidepressants handy? Good.

Posted by AlM on Sat Jul 6 09:04:33 2024, in response to Re: Are your antidepressants handy? Good., posted by Peter Rosa on Fri Jul 5 21:42:16 2024.

True. Though there are cases lately where they hollow out the core of the building to make an interior courtyard.



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(1988260)

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Re: Are your antidepressants handy? Good.

Posted by AlM on Sat Jul 6 09:06:35 2024, in response to Re: Are your antidepressants handy? Good., posted by Peter Rosa on Fri Jul 5 21:53:20 2024.

As 3-9 says, that is very old news. Traffic is way up from pandemic levels.

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(1988261)

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Re: Are your antidepressants handy? Good.

Posted by AlM on Sat Jul 6 09:07:52 2024, in response to Re: Are your antidepressants handy? Good., posted by Catfish 44 on Fri Jul 5 20:00:16 2024.

Do you drive to work? Otherwise it's a really unpleasant lug on the subway.


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(1988270)

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Re: Are your antidepressants handy? Good.

Posted by Catfish 44 on Sat Jul 6 10:25:54 2024, in response to Re: Are your antidepressants handy? Good., posted by AlM on Sat Jul 6 09:07:52 2024.

I sure do drive. There is a world outside of manhattan you know 🥴

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(1988272)

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Re: Are your antidepressants handy? Good.

Posted by AlM on Sat Jul 6 10:32:58 2024, in response to Re: Are your antidepressants handy? Good., posted by Catfish 44 on Sat Jul 6 10:25:54 2024.

I know. But the string of posts you responded to was very specifically about Whole Foods and Lower Manhattan. I doubt that many people who work in Lower Manhattan go to Whole Foods, lug their groceries to the garage where their car is parked, and then drive home with their groceries.

It would be much easier for them to drive to a grocery store with a parking lot on their way home.




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(1988276)

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Re: Are your antidepressants handy? Good.

Posted by Peter Rosa on Sat Jul 6 11:38:23 2024, in response to Re: Are your antidepressants handy? Good., posted by AlM on Sat Jul 6 09:04:33 2024.

The more I think of it, a modern office building is just about the hardest type of structure to convert to other uses. And to make matters worse it's something that's going to keep coming up.

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(1988278)

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Re: Are your antidepressants handy? Good.

Posted by AlM on Sat Jul 6 12:04:13 2024, in response to Re: Are your antidepressants handy? Good., posted by Peter Rosa on Sat Jul 6 11:38:23 2024.

The more I think of it, a modern office building is just about the hardest type of structure to convert to other uses.

But nevertheless, it's happening:

Links

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(1988281)

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Re: Are your antidepressants handy? Good.

Posted by Catfish 44 on Sat Jul 6 12:37:31 2024, in response to Re: Are your antidepressants handy? Good., posted by AlM on Sat Jul 6 10:32:58 2024.

That’s what’s funny though. I will work at an office building only a couple of addresses down from that particular store. And I have done both, lug on subway and back to the car.

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(1988283)

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Re: Are your antidepressants handy? Good.

Posted by AlM on Sat Jul 6 12:47:17 2024, in response to Re: Are your antidepressants handy? Good., posted by Catfish 44 on Sat Jul 6 12:37:31 2024.

Ah, OK.

I have read that this is rare, but admittedly it's not based on my following people out of Whole Foods and seeing where they go.


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(1988285)

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Re: Are your antidepressants handy? Good.

Posted by DANd124 on Sat Jul 6 12:58:29 2024, in response to Re: Are your antidepressants handy? Good., posted by Peter Rosa on Sat Jul 6 11:38:23 2024.

Modern factories are useless as anything else.

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(1988289)

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Re: Are your antidepressants handy? Good.

Posted by https://salaamallah.com/ on Sat Jul 6 13:28:00 2024, in response to Re: Are your antidepressants handy? Good., posted by Catfish 44 on Fri Jul 5 21:22:11 2024.

COFFEE

IN THE MORNING BRO

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(1988290)

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Re: Are your antidepressants handy? Good.

Posted by Catfish 44 on Sat Jul 6 13:55:21 2024, in response to Re: Are your antidepressants handy? Good., posted by AlM on Sat Jul 6 12:47:17 2024.

It’s certainly not a frequent thing for me to do.

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(1988314)

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Re: Are your antidepressants handy? Good.

Posted by Fisk Ave Jim on Sat Jul 6 19:01:58 2024, in response to Re: Are your antidepressants handy? Good., posted by https://salaamallah.com/ on Sat Jul 6 13:28:00 2024.

Bustelo?? Great coffee. One big cup and you're ready to rip. Puts red Bull to shame!

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(1988319)

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Re: Are your antidepressants handy? Good.

Posted by https://salaamallah.com/ on Sat Jul 6 19:34:53 2024, in response to Re: Are your antidepressants handy? Good., posted by Fisk Ave Jim on Sat Jul 6 19:01:58 2024.

RED BULL

NOT GOOD FOR YOU

AT ALL

DO YOU HAVE DON FRANCISCOS IN YOUR FOOD MARKET THERE ??

NOT BAD

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(1988331)

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Re: Are your antidepressants handy? Good.

Posted by Fisk Ave Jim on Sat Jul 6 21:23:32 2024, in response to Re: Are your antidepressants handy? Good., posted by https://salaamallah.com/ on Sat Jul 6 19:34:53 2024.

Ill check

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(1988334)

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Re: Are your antidepressants handy? Good.

Posted by https://salaamallah.com/ on Sat Jul 6 21:34:52 2024, in response to Re: Are your antidepressants handy? Good., posted by Fisk Ave Jim on Sat Jul 6 21:23:32 2024.

OK

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(2044448)

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Re: Are your antidepressants handy? Good.

Posted by Olog-hai on Thu Aug 13 03:43:04 2026, in response to Re: Are your antidepressants handy? Good., posted by Fisk Ave Jim on Sat Jul 6 07:53:57 2024.

"Suit-Covered Anus", apparently.

The only other one that I saw that used this pseudoabbreviation was the late Selkirk.

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