On this episode of Closed!, recorded live at The Real Deal Forum, Lee and Mike sit down with Stephen Siegel, Chairman of Global Brokerage at CBRE and one of the most recognizable names in New York City brokerage, to talk about what the data is really saying about the recovery of the New York City office market.
Stephen breaks down why the return-to-office conversation has shifted so dramatically since the 2020 COVID-19 pandemic, and why working from home was never going to replace in-person work. He discusses how financial services firms, law firms, AI companies, and other major users are reshaping the market, and why premium supply remains scarce. Stephen delves into flight-to-quality, rising rents across Class B buildings, and why landlords who invest in amenities and general improvements will see the market move in their favor.
What does this mean? Simply this: when you engage us, we are fully invested in arriving at the best possible outcome for you. Advocating for your interests becomes our number one priority from the moment you call us until long after the contract is signed or decision rendered.
The purchase or sale of real estate is a major financial transaction in a person or company’s life. A real estate transaction is a contract where the terms of the documents will determine your rights, so it is essential to take an aggressive approach to the negotiation and drafting of these documents. Failing to do so could cause the loss of significant value and may bind you to unfavorable terms.
Especially in a high-priced market such as NYC, it is important to approach these transactions with help from a dedicated attorney. Property transactions require disciplined attention to detail as well as in-depth knowledge of the law. Let a New York City real estate lawyer protect your rights and preserve your best interests.
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