Do You Ever Wonder...The Hallmark Abstract Service Podcast
The Do You Ever Wonder podcast from Hallmark Abstract Service was created for one purpose...To explore topics that our listeners want to learn more about! To achieve this we invite expert guests to discuss their specific areas of expertise with our host, Hallmark Abstract Service CEO Mike Haltman. We are always looking for input from listeners about what they would like to hear about and learn about. We have spoken with 1-800-Flowers founder Jim McCann, Heroes To Heroes Foundation founder Judy Elias, ’The Everyday Entrepreneur’ Rob Basso, Ellen Leikind of Poker Divas, women's financial literacy crusader Cary Carbonaro, and so many more. We explore subjects ranging from health and nutrition, real estate, personal finance, entrepreneurship, business, career, science, philanthropy, and of course issues we all face in life!
Episodes can also be heard at Padverb here: https://en.padverb.com/hallmark1
Do You Ever Wonder...The Hallmark Abstract Service Podcast
Do You Ever Wonder Speaks With Rob Kuppersmith About the State of the Commercial Real Estate Market Circa May 2021?
The State of the New York City Commercial Real Estate Market Now and Into the Future!
(originally taped on LinkedIn Live, May 2021)( The video can be seen on YouTube here, https://youtu.be/pSKi7P9_aeM)
Our guest Rob Kuppersmith is a Managing Director with Cushman & Wakefield. C&W boasts over 4500 brokers, had 2019 sales volume of $133,000,000,000 and leased space in excess of 693,000,000 square feet.
Covid-19 Has Left Its Mark!
Since March 2020, pandemic, layoffs, work from home, quarantine, forced business closures, an eviction moratorium, non-payment of rent and the migration of individuals and businesses to other states, have all taken a toll on life in the big city!
And nowhere has that impact been greater than the commercial real estate market.
Today, with the wide distribution of the çoronavirus vaccine and NYC streets beginning to show some life, when all is said and done the ultimate impact of coronavirus on the commercial real estate market is hard to imagine.
Will businesses reopen, move to other parts of NYC, move out of NYC or maybe simply cut the space they need to use?
Will apartment tenants in the ‘city that never sleeps’ return in droves, trickle back or possibly remain wherever it was they were during the pandemic? And, what rents will they be willing to pay?
For those unfamiliar, commercial buildings are valued muçh differently than residential properties, with the quality of tenants, vacancy rate, length of lease and of çourse rent roll all critical factors in determining what a building may be worth. The net operating income (NOI) is a key number that comes out of the analysis (NOI, subtract all operating expenses incurred on a property from all revenue generated on the property).
Add into the mix the capitalization rate for a given area in a city or town and the approximate value of a building çan be determined by dividing the NOI/capitalization rate.
As a result, two exact commercial buildings that are side by side in a neighborhood çan have very different values.
Articles at the Hallmark Abstract Service blog have examined some of the aspects of commercial real estate, including...
Commercial Real Estate and the Cap Rate Conundrum!
https://www.hallmarkabstractllc.com/commercial-real-estate-and-the-cap-rate-conundrum/
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