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
The Future of Westchester’s Commercial Real Estate Market
The word unprecedented has been used an unprecedented number of times recently, but it is the most accurate word we have to describe what has happened to our world. At some point in the foreseeable future, we will begin to move toward a new normal. What will that look like in Westchester’s real estate market?
Howard E. Greenberg: Apartments, Wegmans and a healthy office market
By Howard Greenberg - January 17, 2020 The new Wegmans takes shape on Corporate Park Drive. Photo by Bob Rozycki We have all heard about retail becoming omnichannel. That is when you can buy online, pick up or return at the store or order online while at the store, so that the online and the
Westchester commercial real estate market is healthier than it has been in decades
From a multitenant office market of more than 33 million square feet about 12 years ago, we have demolished and/or repurposed almost 6 million square feet of multitenant office space, and have not built any new office buildings at all. Many functionally obsolete buildings have been demolished to free up the sites for new residential,
Towns, trains and water are the keys to development in Westchester
Most people ask me “What is all the building going on in Westchester?” Even more people ask me “Why are they building so many apartments?” The answers have a lot more to do with new societal trends than they do with real estate. Westchester has morphed from a sleepy bedroom community that rarely saw any
Robert Martin Co. returns to familiar turf amid red-hot industrial market
Robert Martin Company has recently regained the number one spot in Westchester County's industrial real estate market. The Greenburgh-based firm reclaimed the throne by buying back a majority of its sprawling commercial real estate portfolio that it had sold to Mack-Cali Realty Corp. for $450 million more than two decades ago. "This portfolio makes it
Howard Properties Relocates Its Headquarters
EFFECTIVE JULY 1, 2019HOWARD PROPERTIES, LTD. WILL RELOCATE TO 200 SUMMIT LAKE DRIVE SUITE 150 VALHALLA, NEW YORK 10595 (914) 997-0300 HOWARD@HOWPROP.COM
