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Keyword: officevalue

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  • Remote work is cutting NYC office value by half: Study

    05/26/2023 6:13:22 AM PDT · by Twotone · 20 replies
    NY Post ^ | May 24, 2023 | Hannah Frishberg
    Working from home is killing office buildings’ worth. As remote and hybrid work prove to be enduring trends, researchers are predicting grim fates for the future value of New York City’s commercial workplaces. New York University and Columbia University researchers have updated a 2022 study to reflect new findings that offices will be even more impacted by remote work than they previously calculated. “We now estimate a more persistent work-from-home regime, which has more of an impairment of office values even in the long run,” Arpit Gupta, co-author of the study, “Work From Home and the Office Real Estate Apocalypse,”...