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Jamison says the plan to convert the building without full structural retrofit is a “game changer.”
The figure is higher than any level Savills had listed on its chart, which dates back to 2019.
Supply is starting to fall in the metro area.
The building is 72 percent leased.
Transition risks can impact property valuation and should be incorporated in underwriting.
The company will continue to invest in "well-connected digital assets across North America," according to the CEO.
This is only the beginning of the recovery in The Big Apple, says Sarah Hawkins.
A number of factors could slow transactions yet again this year.
Upward vacancy momentum in the multifamily sector may have crested.
The asking rent for a typical single-family home was $2,174 in December.