Most of the building is already rented.
Photo / John Minchillo, AP
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(Photo: AP)
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New York Aby Rosen takes a pragmatic view of the matter. “As a landlord you have to offer more today. The companies place more value on conference rooms and outdoor areas, but also on equipment such as meditation and Pilates rooms ”, attests the German-born investor who, with his company RFR Holding, is one of the most prominent real estate developers in New York.
Accordingly, he is converting the office properties in his portfolio, which include the legendary Chrysler Building, the Seagram Building on Park Avenue and an office tower on Fifth Avenue.
Because the pandemic has clearly shaken the real estate market in the place of longing for the super-rich. The city is only slowly fighting its way back from the corona crisis. The market for office real estate in the city lost almost 17 percent of its value in the past fiscal year, which ended on March 31. 29 billion dollars thus vanished into thin air. It’s the first break-in in 20 years.
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