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Andrew G. Simon's Groups
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New York City State of the Commercial Market
Started Feb. 5, 2009
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Andrew G. Simon's Blog
Rare Opportunity in New York City
This is a low-yield situation, as any land deal is, but to be able to find a deal like this in Manhattan is not a common thing.
The term of… Continue
Posted on December 2, 2009 at 4:35pm — 2 Comments
Brian French has asked for an update on the NYC market, six + months later
The general consensus for New York City's commercial real estate market has been that since the market fundamentals were sound at the beginning of this downturn, NYC would prove to be resilient compared most other parts of the US.
New York had a roughly 5% vacancy rate one year ago. That has not changed dramatic… Continue
Posted on July 21, 2008 at 5:20pm — 1 Comment
The next day I tried this one out for size.
If things do drift, how will it affect you?
It is unlikely that rental rates will come down markedly, at least in the short run. But if their is a pause, landlords will start to add more concessions in order to keep their face rates high, lowering the net effective rate. Lease terms will also become somewhat more flexible during the lease negotiation. In effect, the "take it or leave it" approach of the landlords will subside and be replaced by a more accomodating stan… Continue
Posted on July 21, 2008 at 4:45pm —
Here is February Blog post on the New York City Commercial real Estate Market
New York City Real Estate Market Drifting Sideways
It appears to be an uncertain time in the market as landlords and tenants take step back to see how the credit markets impact the local leasing and investment market. This could be a brief 6 months, but is more likely to last the balance of 2008, and then into the first half of 2009 as the US economy pauses due to a new administration coming into power one year from now.
Posted by Andrew G. Simon at 2:29 PM 0 comments
Posted on July 21, 2008 at 4:44pm —
Old blogs have now been attached- see how accurate they were?
Posted on July 21, 2008 at 4:17pm — 1 Comment
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See what happens when you live NY for a couple days?! I'd love to see what you have to say about the NY Times article etc on what it all means to NY real estate.
We are all looking forward to your updated views in a new "financial crisis" group set up on CREOPoint. Go to http://creopoint.com/group/globalfinancialcrisis/forum/topic/show?id=2008886%3ATopic%3A6611&page=1&commentId=2008886%3AComment%3A6726&x=1#2008886Comment6726.
Best, JC
I was delighted to see that you recently joined the CREOPoint community. In my Member services role, my goal is to ensure that you and all our members know where and how to find the information needed from the site, maximize connections and network quickly and efficiently with peers around the globe about key issues.
Going forward I will be the one personally answering your emails and updating you of new developments and site functionality.
I noticed your interesting profile summarizing that you would like to exchange opportunities and ideas for business development, with particular emphasis on your local NY expertise.
Having posted your detailed profile will improve your rankings in search engines when prospects from around the world search for brokerage and consulting expertise. CRE experts but you may want to add one of your relevant articles on local NYC opportunities to a blog (to add your first entry, go to your profile and click the "Add Blog Post" link). It would also be good if you invited a few of your friends and colleagues to sign up. In addition by actively adding good content to groups, community members stand out, and we're very pleased that you're taking advantage of this early leadership opportunity.
Meanwhile please do not hesitate to contact me in whatever way you prefer! (This site, schesters@creopoint.com, regular e mail at sarachesters@gmail.com or via phone 310 245 2061). Do not forget to leave your phone number and CREOPoint user name and I will call you back as soon as possible.
Kind regards,
Sara