X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

James Nelson James Nelson

We are going to be talking about considerations for businesses, on whether or not they own or lease their space. This segment of the market has received a lot of attention recently, especially from those who are buying office condos as a way to expand their businesses. In the first half of the year, although sales across almost all asset classes went down, office condo sales went up by 184 percent. The only two asset classes that also recorded gains were industrial and single family. Although office condos in other cities around the world are very prominent, here in New York, especially Manhattan, it is a very small percentage. Office condos only account for about 10 million square feet, compared to 400 million square feet available for lease.

Here to discuss some of the considerations are Aaron Lerner, senior manager at the accounting firm EisnerAmper, and Mario Dicerbo, SVP at Bank of America, to talk about some of the financing options.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.