Malone Commercial Brokers’ Post

Vacant Office Buildings are Turning into Apartments Contact me to discuss the latest scoop in real estate! #georgia #georgiarealtor #georgiarealestate #geogiahomes #georgiarentals #georgiahousing #georgiatoprealtor #georgiatoprealestateagent #georgialistings #georgiabrokerage

There are apartments and townhouses selling for more than this entire 23-floor office building, just a few blocks away! Unfortunately these scary low valuations may become the norm as owners are stuck between a rock and a hard place: a lot of $$ is required to simply operate the building, let alone renovate it to improve the office space quality, or to put it to alternative uses such as multifamily. (And don’t forget about the upcoming LL97 costs too). Demolishing and rebuilding is $$$ with no guarantees of returns either. I fear this and many other buildings will remain vacant until interest rates come down… However, there are options out there for owners and investors in CRE - not a “one size fits all answer”, but a portfolio of options across the building’s footprint that can help bridge the gap between now and a better future. Right, Ronan Curran, CFA, FCA and Lauren Leach ? https://lnkd.in/eFEgc8xz

Day 1 of my 2024 predictions for commercial real estate in New York I expect office leasing prices at the top end of the market (Class A and Class A+ buildings) will move higher as a result of the scarcity of new development. There are very few new office buildings being built currently in New York City creating a scarcity of new high-end office space. Stay tuned for #2 tomorrow #cre #commercialrealestate #newyorkcity #realestate #office #newyorkrealestate

Key Considerations Before Home Office Renovation #edmontonrealestate #investinedmonton #edmontoncommercialrealestate #findedmontonproperties #edmontonrealtor #harjeetsandhu #yegrealtor #edmontonproperties #yegrealestate #dreamhomes

For Sale or Lease MLS link below $2,370/month + utilities The end unit of this attractive complex comes with extra windows and the upstairs has been made into 1,944 square feet of luxurious office space. Once owned by a local builder, this prime location has maximum exposure. Inside and out, this office space will represent the finest business. Outside is great - you can drive by & see it first hand - upstairs space for lease has two executive offices, a board room, and plenty of storage. Imagine turning a sloped roof into a vaulted ceiling inside - that is what happened here. The pride and prowess of the homeowner who once owned this condo is showcased here. The configuration can be left exactly as the builder had it - PERFECT for him - or walls can be added to make more offices. No surprise to have air-conditioning here, a front & back stairway, and plenty of storage. All this and more at this condo that is first seen on this high-traffic 102 Street – this condo is a one-of-a-kind showstopper, and for location, quite literally, one that can’t be missed! Lease for $2,370 per month + utilities. $1,620 base ($10 x 1,944 sf /12 months) + $750 Additional Rents ($4.63/sf) = $2,370 + utilities. (You can also own the whole condo - see MLS# A2139999 for details) https://lnkd.in/gDBVVA4y

Office Optimization   Despite substantial talk of office space to residential apartment conversions, in 2022 developers created just 3,575 apartment units that way, less than 1% of all new apartments built. In 2021, the number of such conversions was about 4,300. In 2020, the number peaked at roughly 6,600. For the five years ending 2019, the number of such conversions averaged about 4,500. This process can help but is clearly no silver bullet. 

Key Considerations Before Home Office Renovation #katekrealestate #chicagorealestate #realestate #realtor #dreamhomes #realestateagent #properties #homesearch #realestateinvesting #housingmarket