Ticker TOP for 1 MONTH Deal Vol?

David Goldsmith

All Powerful Moderator
Staff member

Noah Rosenblatt

Talking Manhattan on UrbanDigs.com
Staff member

Noah Rosenblatt

Talking Manhattan on UrbanDigs.com
Staff member
I must say, Manhattan 30-day deal vol is hanging tough as we head into the slowest month of the calendar year: September

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David Goldsmith

All Powerful Moderator
Staff member
Looks like the return to office is getting pushed back?

Wells Fargo, BlackRock, Amazon join others in delaying office returns​

Surging Delta variant is pushing back-to-work mandates into October​

The hits keep on coming for office landlords, with three more major companies pushing back a return to in-person working.

Wells Fargo, BlackRock and Amazon are the latest to postpone in-person work, Bloomberg News reported.

Wells Fargo was planning on bringing back its remote workforce beginning Sept. 7, but the surging Delta variant has now pushed that reopening date to Oct. 4, according to the publication.

With almost 260,000 employees, Wells Fargo has the largest workforce of any U.S. bank. The company is also requiring that all in-person employees wear masks in the office, regardless of vaccination status. The bank is giving employees eight hours of paid time off to encourage them to get vaccinated.
 

Noah Rosenblatt

Talking Manhattan on UrbanDigs.com
Staff member
Looks like the return to office is getting pushed back?

Wells Fargo, BlackRock, Amazon join others in delaying office returns​

Surging Delta variant is pushing back-to-work mandates into October​

The hits keep on coming for office landlords, with three more major companies pushing back a return to in-person working.

Wells Fargo, BlackRock and Amazon are the latest to postpone in-person work, Bloomberg News reported.

Wells Fargo was planning on bringing back its remote workforce beginning Sept. 7, but the surging Delta variant has now pushed that reopening date to Oct. 4, according to the publication.

With almost 260,000 employees, Wells Fargo has the largest workforce of any U.S. bank. The company is also requiring that all in-person employees wear masks in the office, regardless of vaccination status. The bank is giving employees eight hours of paid time off to encourage them to get vaccinated.
yeah saw that, hmm...guess we need to see how deep this goes as flu season kicks in
 

David Goldsmith

All Powerful Moderator
Staff member
Looks like the return to office is getting pushed back?

Wells Fargo, BlackRock, Amazon join others in delaying office returns​

Surging Delta variant is pushing back-to-work mandates into October​

The hits keep on coming for office landlords, with three more major companies pushing back a return to in-person working.

Wells Fargo, BlackRock and Amazon are the latest to postpone in-person work, Bloomberg News reported.

Wells Fargo was planning on bringing back its remote workforce beginning Sept. 7, but the surging Delta variant has now pushed that reopening date to Oct. 4, according to the publication.

With almost 260,000 employees, Wells Fargo has the largest workforce of any U.S. bank. The company is also requiring that all in-person employees wear masks in the office, regardless of vaccination status. The bank is giving employees eight hours of paid time off to encourage them to get vaccinated.

Delta Variant Casts a Shadow Over Midtown Manhattan’s Shaky Recovery
Signs of life have emerged as restaurants and stores reopen, but trouble looms as a rise in coronavirus cases delays some returns to the office.
 

Noah Rosenblatt

Talking Manhattan on UrbanDigs.com
Staff member
Delta Variant Casts a Shadow Over Midtown Manhattan’s Shaky Recovery
Signs of life have emerged as restaurants and stores reopen, but trouble looms as a rise in coronavirus cases delays some returns to the office.
yeah saw that...looks that way, makes sense that flu season will see rising cases of covid/variants, etc., so lets see how this plays out
 

David Goldsmith

All Powerful Moderator
Staff member
Delta Variant Casts a Shadow Over Midtown Manhattan’s Shaky Recovery
Signs of life have emerged as restaurants and stores reopen, but trouble looms as a rise in coronavirus cases delays some returns to the office.

Facebook Delays Return to Offices Until 2022 for U.S. Employees​

  • Company originally planned to have employees back by October
  • Facebook will also require vaccinations for U.S. staff members
Facebook Inc. is delaying its return to office plans due to a resurgence in Covid-19 cases, telling U.S. employees Thursday that they don’t need to return to work in person until January 2022.
 

David Goldsmith

All Powerful Moderator
Staff member
Good stuff, Noah.

“On fire” in terms of activity seems right to me, but not pricing. Some data from Miller Samuel:


I think we’ll see gap from pre-COVID pricing close some more in July & August before fading back some through the winter, despite the extended active season Adrian predicts. The “returnee” effect is super-strong right now: all the people who rolled out of their leases across an entire year are rushing back for Sept because of return-to-work and schools. When that momentum fades, we are going to return to fundamentals: net-net, demand for NYC is down compared to pre-COVID.

David, do you still think winter 2021/2022 may end up with pricing lower than winter 2020/2021? I’m feeling increasingly confident in my call from last year for a winter 2020/2021 bottom.
There's a lot to unpack in this July Market Report, but from the broker babble would you have expected to see Manhattan new lease signings down over 20% Month-over-month when they were expected to go up?
 

inonada

Well-known member
Agreed. It could be that the rush gets packed into the beginning & end of summer, with the earlier side not wanting to miss out on the hot vax summer? Or noise?

Nevertheless, it’s still 4-ish straight months where new leases were over 5K, with 5K not having ever happened before even once.


I think Aug will be higher than July. Care to take the other side for fun (acknowledging that we’d be placing a wager on a number whose veracity is questionable)?
 

David Goldsmith

All Powerful Moderator
Staff member
I'm going to take the August will be lower than June when it "should" be higher based on history, the current hype of how hot the rental market is, and claims of how many people are returning to office starting September.
 

Noah Rosenblatt

Talking Manhattan on UrbanDigs.com
Staff member
There's a lot to unpack in this July Market Report, but from the broker babble would you have expected to see Manhattan new lease signings down over 20% Month-over-month when they were expected to go up?
This stands out...YoY trend vs current relative trend very diff
 

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Noah Rosenblatt

Talking Manhattan on UrbanDigs.com
Staff member
1291 and in the second half of Aug. Incredible. I dont see this dropping to below 1k anytime soon with deal vols at these levels

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