Ben Blumenthal, the founder and principal broker at Noah & Co. and a specialist in Midtown Manhattan office space, sits down with Noah Rosenblatt and John Walkup of UrbanDigs to talk about the NYC office sector. Ben shares his thoughts on the current state of the office market in the city, the ability of landlords to manage change, the impact of remote work, cap rates, and much more. Ben knows the nuances and intricacies of this market very well, and it shows. A must-watch/listen for NYC real estate folks!

Highlights:

0:53 - What's happening in the NYC office market?

3:03 - Vacancy rates

6:00 - Landlord concessions

7:45 - Remote work and the evolution of the office market

13:10 - Cap rates

14:51 - Liquidity

17:20 - Can landlords withstand the drawdown?

18:47 - Looking ahead & the inspiration of NYC

Ben's Team Page and Noah & Co.

https://www.noahre.com/team

Link to the article mentioned in the podcast:

https://www.curbed.com/article/nyc-office-real-estate-rechler-rxr-project-kodak.html

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https://www.urbandigs.com/forum/index.php?forums/main-forum.2/

Track the New York City real estate market with real-time data and charts:

https://www.urbandigs.com/

Link to our overview of Manhattan or Brooklyn real estate stats:

https://www.urbandigs.com/marketwide-charts/

For more Manhattan and Brooklyn real estate conversations:

http://www.talkingmanhattan.com/