Business
Knotel bankruptcy does not signal the end of flexible offices in New York, brokers say
The company has more than 20 locations in the city, according to its listings portal. He plans to leave several places around the country as part of his bankruptcy process.
Co-founder Amol Sarva chose New York and San Francisco as two cities where it has become increasingly difficult to do business amid the pandemic in a statement accompanying the bankruptcy announcement, but the company declined to say if New York was one of the markets. he would go out.
The immediate impact of the bankruptcy filing on the New York office market is expected to be fairly limited, as Knotel does not have a large enough footprint to disrupt the office industry on its own, according to Peter Riguardi, president of the New York region. three states from JLL to New York.
“We are going through a difficult period, and in this space, we may have had too many suppliers to start”, cordially declared: “and thus only the strongest will survive and develop their market”.
The bankruptcy should also provide Knotel owners with much-needed clarity on the future of the office space the company currently occupies, Stephen Powers, of Transwestern Real Estate Services, said.
“This allows the bandage to be ripped off and for there to be a change and the potential to reoccupy those spaces,” he said.
Knotel’s bankruptcy comes at a difficult time for the Manhattan office market. Last year was the slowest year of the 21st century, with businesses leasing just under 19 million square feet of space, a 55.9% drop from 2019, according to a report by Colliers International .
January brought mixed news. Rental activity for the month was 1.9 million square feet, the highest total since July and an 18.6% increase from December. However, the borough’s availability rate increased for the eighth consecutive month to a record 14.9%, according to Colliers.
A November CBRE report found flexible office space providers occupy 13.4 million square feet of office space in Manhattan, or about 4% of the borough’s inventory. Brokers did not see Knotel’s bankruptcy as a sign that owners would seek to avoid leasing space from similar businesses in the future.
“Coworking has a place for the future,” said Riguardi. “I think the next generation of renters will prefer flexibility, and also, a lot of them prefer their space to be built for them so that they don’t have to go through this process.”
Massey was equally optimistic about the flexible office space model and hailed Newmark’s acquisition of Knotel as “a great investment at the perfect time.”
Powers echoed this, adding that the Newmark deal is likely a sign that homeowners will take a more active role in the flexible office space industry as it evolves.
“There’s a real opportunity for homeowners to come up with these flexible terms and flexible scalability options,” he said. “There’s going to be a ton of vacant space. There’s a ton of vacant space, so that’s one way to fill it.”
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
picture credit
to request, modification Contact us at Here or [email protected]
 |
 |
 |
