The Sinreich Group

Attorneys at Law

(212) 317-1131

The Sinreich Group is a New York City based real estate law firm that represents public and private sector clients in connection with the acquisition, development, leasing, financing, repositioning and disposition of real estate throughout the country.

Bite Size Breaking News

Welcome to Bite Size Breaking News. We post every other Monday by noon. Have lunch with The Sinreich Group and get the latest real estate news in easily digestible “bite size” portions.

The WeWork Takeover — Losing Money & Gobbling Up Space

WeWork reported that it lost $1.22B during the first nine months of 2018, in spite of which its self-reported valuation increased to $42B as the result of a recent $3B investment from SoftBank. According to WeWork, it is the largest tenant in New York, London and Washington with 335 locations covering 15.5M square feet in 24 countries. By the end of 2018, WeWork projects that 400,000 individuals will be using its office space. Learn more

How Starbucks Affects Single Family Home Prices

According to the brokerage information website Zillow, as reported by McKinsey, the price of homes in Boston within a quarter of a mile of a Starbucks increased by more than 171% between 1997 and 2014, 45% more than all homes in Boston. Learn more

Bricks vs Clicks: Capturing 2018 Holiday Shopping Dollars

According to the International Council of Shopping Center’s research, 90% of holiday shoppers plan to make purchases from brick-and-mortar stores, and that rises to 95% if online purchases from brick-and-mortar retailers are included. Shoppers in general reported that they plan to spend an average of $706 on holiday gifts, while Millennials reported an average intended spend of $613, Gen-X’ers reported $896 and Baby Boomers reported $697. Learn more

Amazon’s HQ2 Locations — The Urbanization of Close-In Suburbs

Amazon’s choice of Long Island City, New York and ‘National Landing’, Virginia for its HQ2 headquarters locations is consistent with one of the trends noted in Emerging Trends in Real Estate 2019. Namely, that suburbs in close proximity to urban areas are themselves morphing into urban locations that combine housing, office, and retail uses with open space. Both Long Island City and National Landing share these characteristics, as well as close proximity to one of Amazon CEO Jeff Bezos’ homes. Learn more

U.S. Office Vacancy Stable in 2018 Q3

According to Urban Land Magazine and based on the most recent Savills Studley Report: National Office Sector, the 2018 Q3 vacancy rate for office space in the United States of 18.1% was unchanged from the prior quarter. San Francisco had the lowest vacancy rate at 9%, then Boston/Suffolk County at 9.7%, NYC at 11.6% and Austin at 12.8%. Learn more

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