Aging NYC office building shows how to succeed despite trend toward shiny new towers

Let’s say you own a 60-year-old, near-900,000 square-foot Midtown office building. Demand for space in Midcentury buildings is weak.  A half-billion-dollar mortgage payment is coming up. Do you: Scramble to refinance when lenders are getting cold feet? Complain to the New York Times that it’s the worst season for property owners since the Biblical floods? If...

  Business   Aug 12, 2024   0   35  Add to Reading List
Aging NYC office building shows how to succeed despite trend toward shiny new towers


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Let’s say you own a 60-year-old, near-900,000 square-foot Midtown office building. Demand for space in Midcentury buildings is weak.  A half-billion-dollar mortgage payment is coming up. Do you: Scramble to refinance when lenders are getting cold feet? Complain to the New York Times that it’s the worst season for property owners since the Biblical floods? If...
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