Covid-19 and Westchester’s commercial property market: Part 1, the light at the tunnel’s end?
Is there a light at the end of the tunnel, or is it an oncoming train? The pandemic had varying effects on office tenants and office building owners, and there are still many more questions than answers about the future of work in the office setting. With the onset of the delta and omicron variants,
Bouncing Back: White Plains downtown retail on road to recovery
By Bridget McCusker - September 20, 2021 Walking down Mamaroneck Avenue, residents, commuters and visitors might notice several changes to the retail landscape, especially if they haven’t visited the business district since the start of the Covid-19 pandemic. After a tough year and a half for the area’s downtown retailers, many businesses were lost for good, and all
Howard Greenberg: Today’s normal and the new normal
As of this writing, office attendance continues to be very low not only in Westchester, but generally in most markets. Remote work continues to be popular with many employees, as it eliminates the time spent commuting and increases personal time and flexibility. The "hub and spoke" model (where large companies would open small suburban satellite
Westchester commercial real estate in 2020 – What a difference a year makes
Westchester County’s commercial real estate market ended 2019 in a strong position. But at the start of 2020, the news of the pandemic was already being heard, culminating in a complete shutdown of all business in mid-March. Approximately 300,000 square feet of leasing was tracked in Westchester County during the first quarter of 2020, which
PTI takes 13,600 sf expansion in Hawthorne’s Mid-Westchester Executive Park
By Phil Hall - January 13, 2021 PTI (Packaging Technologies and Inspection) has signed a lease for a 13,650 square feet of expansion space at 8 Skyline Drive in Hawthorne’s Mid-Westchester Executive Park. The company, which manufactures nondestructive package inspection technologies for the pharmaceutical, medical device and food industries, had originally leased 14,255 square feet
Government agencies renew leases at 20 S. Broadway in Yonkers
By Peter Katz - January 11, 2021 Chestnut Commercial, owner of the 12-story commercial building at 20 S. Broadway in Yonkers that was built in 1931, reports that long-term lease renewals with three government tenants were signed for the building in 2020 despite the Covid-19 disruption. 20 S. Broadway The U.S. General Services Administration renewed
2020 – Covid and the Westchester office market
The Covid-19 lockdown that began in mid-March spurred a Work from Home revolution. As of mid-December, there is very sparse attendance in Westchester offices (on the order of 10 percent or less), and building amenities, including cafeterias and fitness centers are generally closed. Work from Home (WFH) continues to be the norm. The overwhelming majority
The state of the office market in Westchester
Since the shutdown in mid-March, there are many more questions than answers about the future of the office. One key trend has been seen in suburban markets as well as in New York City. While offices are technically open at significantly reduced capacity, employees are in no hurry to come back to them. Much of
What does reopening mean to Westchester County offices?
As of this writing, the Mid-Hudson region is commencing its phase two reopening, permitting some workers to return to their offices, with significant rules and limitations. Since New York Pause began, I have attended many webinars and read countless articles on the future of office space in the near and long term. One thing I
An 89-year-old Yonkers building enters the modern COVID era
The building known as 20 South Broadway in Yonkers has remained an anchor of the Getty Square area of Yonkers from the Great Depression through today's COVID-19 pandemic. With approximately 148,000 square feet of space, the 12-story office building that was built in 1931 was acquired in 2018 by Chestnut Commercial, an owner and manager
