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Op-ed: Conventional wisdom about commercial real estate is dead wrong

There's a surge of doom and gloom coming from pundits about the future of New York City's office market. Almost every day I click through stories about the industry's "drought," "crisis" and—my favorite new hyperbole—"doom spiral." I've been in the business since John Lindsay was mayor. I've read countless postmortem headlines for our city and industry from the 1970s recession, the '87 panic, the aftermath of 9/11, the Great Recession and now the pandemic. And I can say with confidence that the conventional wisdom about commercial real estate today is dead wrong. It's true that fewer workers than before the…

Publication Crain's New York Business
Date 2023-01-26
Author Douglas Durst

Fellow Travelers: REBNY’s 2023 Leadership Fellows

When Rudin Management operations manager Natisha Thomas decided to participate in the first Real Estate Board of New York fellows program two years ago, she expected to meet new contacts and learn about areas of commercial real estate outside her expertise What she didn’t expect was a soul-searching enterprise so emotionally revealing that she would wind up in tears. “There’s an exercise called brown bag,” said Thomas. “On the outside of the bag you put how people see you on the outside.” On the inside, people were asked to write how they see themselves, and this became a far deeper…

Publication Commercial Observer
Date 2023-01-24
Author Larry Getlen

The Corporate Cafeteria Is Broken. So How to Feed Workers?

The corporate cafeteria can be an especially lonely place these days “You used to walk in at 12 o’clock on a Tuesday and stand in line to get something,” said Casey Allen, 46, who works for a division of the agricultural chemical company BASF in Raleigh, N.C. “Now, you walk in and you’re usually first in line.” A paternalistic fixture of white-collar life born of the Industrial Revolution, the office dining room survived the midcentury move to sprawling suburban office parks. It weathered the rise and fall of cubicle culture and power lunches, and more recently, the lavish excess of…

Publication The New York Times
Date 2023-01-23
Author Kim Severson

Why One World Trade Is Winning R.T.O.

The pandemic has emptied office buildings all over New York City, but One World Trade Center, which is almost fully leased, has become a buzzy tech, advertising and media hub Here’s what I saw when I stopped by. The landmark, at 94 percent occupancy, houses the legacy media publisher Condé Nast and tech companies like Reddit. Office workers can ride an express elevator to the “sky lobby,” a bright atrium with skyline views (or, weather depending, clouds). On the same floor as the sky lobby (the 64th), a cafe decked out with national flags hosts World Cup viewing parties. There…

Publication The New York Times
Date 2022-12-14
Author Winnie Hu

Owner's Magazine

Douglas Durst Chairman at The Durst Organization

Date 2022-11-04
Author Commercial Observer