Gotham Building reposted this
President @ Gotham Building | Project Management, LEED GA | 646-450-1305 | straub@gothambuilding.com
📈 Increased Value of New York's Office Buildings 🏢 Recent evaluations by the city's Department of Finance 🏦 have highlighted a significant increase in the worth of office buildings across New York. This surge in valuation is attributed to a broader trend in the commercial real estate sector 🌆. Factors contributing to this rise include the adaptive re-use of office spaces 🔄, the influx of technology firms 💻, and a renewed confidence in the physical workplace 🤝. 🛠️ Adaptive Re-Use 🏗️ The concept of adaptive re-use has revolutionized the way office spaces are perceived and utilized. Traditional office buildings are being transformed into dynamic spaces that cater to a wide range of uses, from co-working spaces 👥 to innovation hubs 🚀. This flexibility is a key driver in increasing property value 💹, making these buildings more attractive to a diverse range of tenants. 🌐 Technology Firms 🔌 The technology sector has shown a growing preference for New York's office buildings. The presence of these tech giants 🏢 not only enhances the prestige of these properties but also drives demand and value 💲. 👥 Renewed Confidence in Physical Workspaces 🏢 Despite the rise of remote work 🏠, there's a renewed interest in physical office spaces. Companies recognize the value of in-person interactions and collaboration 🤝, leading to a reimagined office environment that prioritizes flexibility, wellness, and sustainability 🌿. This overall increase in value indicates a positive response to the evolving needs of today's workforce 💼 🏢 🏠. #nycrealestate #realestatedevelopment #realestate #manhattanrealestate #commercialrealestate #renovation Gotham Building
Matt DuBois
9mo
That adaptive re-use stuff is pretty interesting, it's great to hear things are booming!
Adria Gross
9mo
What are your thoughts of real estate in Brooklyn?
Intetesting insight, plenty of opportunity to sdd extra value with what we can bring to the table! Thanks for sharing.
Ray Schaub
9mo
Nice to see good news in such an important sector of New York City's economy. Thanks, Stephen!
German Valencia
9mo
Surprising, considering the vacancy rates; not so much considering supply and demand dynamics of land in NYC. This industry harbors a titanic opportunity to boost revenue, the key lies in Value Engineering, transforming wasted space into revenue-generating opportunities. Here's the catch: the industry is still confined to traditional, outdated consumer behavior. The disparity between usable and rentable space, and the actual space utilized by tenants pose significant burdens. Having conducted value engineering for floor plans across thousands of offices, the issue of waste became glaringly evident. The new users are motivated by possibilities that increase their capabilities. Commercial buildings can be adapted to become opportunity hubs. The appeal of working in aesthetically pleasing offices with amenities like lounges, outdoor terraces, event spaces, networking opportunities, and access to cutting-edge technology is hard to resist. This opportunity is a call to action for those who are open to change, adapt, and understand the new generations better. #ValueEngineering #CommercialRealEstate #ModernWorkspaces
James W Dowse
9mo
I hope it's true.
Yasmeen Anderson
9mo
Sounds like good news for NYC
Craig Leonard
9mo
Wow, that is surprising. Stephen Straub
Shameka Volkers
9mo
This is welcomed news!
VP, Business Development 🏙️ Design Built FFE for the Commercial Real Estate Industry
9moThis insight is gold Stephen - it’s the last line that really drives it home. The evolution began when Covid locked us down & the reality is there will always be a pre covid cre market as well as an evolved post covid cre market. The key aspect to flourish is that word that begins with an e & ends with an e that Darwin wrote about. We must evolve. Always. Change is the key for all survival & the ones who do it best will flourish.