NEW YORK CITY — Top of minds in real estate, economics and finance recently shared insight into how rising interest rates, inflation and economic uncertainty are impacting commercial real estate in New York, the U.S. and markets abroad. The virtual panel discussion on Sept. 7, hosted by Fordham University's Real Estate Institute and The Business Council of Westchester, also shared insights into remote-work trends and how that is reshaping real estate.
Nicole LaRusso, senior director for research and analysis for CBRE Group Inc.'s, U.S. North Region said that the average office worker spent about 4.2 days a week in the office pre-pandemic. Now she expects it will be 3.2 days. "The reduction in time spent in the office, combined with current economic uncertainty and higher costs for occupiers, is going to push back on office demand in the near term," she said.
The panel, "Economic Outlook and Forecasting the New York Region's Real Estate Market" featured Kathleen Corton, CEO, CIO and managing partner, Hillcrest Finance LLC; Eamonn D'Arcy, professor of International Real Estate, Henley Business School, England; Christopher Deutsch, vice president, China CITIC Bank International Ltd.; Charles Dougherty, vice president and economist, Wells Fargo; Timothy M. Jones, CEO, Robert Martin Co.; and CBRE's LaRusso. The panel was moderated by BCW president and CEO Dr. Marsha Gordon.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
