Commercial Real Estate Takes a Hit During Covid-19

The video discusses the impact of the COVID-19 pandemic on commercial real estate, highlighting a significant drop in transactions and the challenges faced by the retail sector due to increased e-commerce and bankruptcies. It also explores the shift towards remote work, affecting office spaces and leading to changes in real estate dynamics, particularly in major metro areas like New York City.

What was the percentage drop in commercial real estate transactions in the second quarter of 2020 compared to 2019?

• 80%

• 50%

• 68%

• 75%

Which trend in retail was accelerated by the COVID-19 pandemic?

• Rise in retail employment

• Growth of e-commerce

• Expansion of physical retail spaces

• Increased in-store shopping

Which area in Manhattan experienced the largest drop in retail asking rents during the second quarter?

• Times Square

• Lower Fifth Avenue

• SoHo

• Upper East Side

What long-term trend in work culture has been accelerated by the pandemic?

• Longer office hours

• Work-from-home

• More in-office meetings

• Increased business travel

Which location are some New York City investment firms moving to as a result of the shift in work trends?

• Boston, Massachusetts

• Greenwich, Connecticut

• Philadelphia, Pennsylvania

• Albany, New York