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CompStak Breakfast Briefing: The Office Real Estate Apocalypse
The Real Estate Apocalypse: The Effect of Remote Work on Commercial Real Estate
DATE & TIME: August 8, 8:30 – 10:00 AM
WHERE: CompStak HQ
The COVID pandemic spurred the work-from-home era, and things are looking more grim than we once thought. A 2022 study that includes CompStak data on effect of remote work on the office sector by researchers Arpit Gupta, Vrinda Mittal and Stijn Van Nieuwerburgh was recently updated this past May as remote work led to large drops in lease revenues, occupancy, lease renewal rates, and market rents in the commercial office sector.
Stijn will join us to discuss the new results and what it could mean for NYC’s real estate market and fiscal future. We’ve gathered a room of industry experts to come share their insights and thoughts on where the industry is going. This is an invite-only event!
We’ll dive into:
- The current state of the office market
- What lies ahead for the NYC office sector in particular
- The long-term and short-term effects of remote work on CRE
- How the flight to quality is affecting vacancy rates
- How to prepare for the future of CRE