New York’s rate of positive Covid-19 tests fell to the lowest since the pandemic began last week. Yet tourism is down, crime is up and as many as a third of the city’s small businesses may never reopen.
The hedge fund wants to sublet about 30,000 sq. ft. of its 50,000-sq.-ft. offices at the NYC skyscraper.
The REIT plans to transfer the branding and management of the 103 hotels to Sonesta International Hotels Corp. by December.
Their argument: It’s safe, and the eateries and shops that make Manhattan special can’t hold out much longer.
KBS CEO Chuck Schreiber discusses how the pandemic is changing tenant needs and what that means for office owners.
The constant presence of the pandemic has crystallized the values and attributes that define true leadership.