Morgan Stanley's revision stems from a broader office sector update tied to job opening data across REIT markets. The underlying concern is structural: white-collar employment trends directly shape office demand, and softening job openings signal a slower leasing recovery than previously modeled.
"The expansion positions NYC Alliance for continued growth while strengthening its design, showroom and operational presence in the historic fashion corridor," Peter Braus said, according to the New York Post.
The cost rose a lot following the pandemic. And some of that was supply chain issues that really increased the costs, and then they didn't quite come back down. And now tariffs are also impacting some products. These costs are part of the reason the amount of new rental housing stock is shrinking.
President Donald Trump put big investors who own single-family rental homes in the spotlight this week by announcing he wants to ban "large institutional investors" from buying more of this type of housing. Overall, major investors own only about 2 to 3% of the country's single-family rental housing stock, researchers have found. But they control a much larger share of the single-family rental industry in certain markets, particularly in the Sun Belt.
One year ago, commercial real estate behemoth CBRE acquired Industrious, a flexible office company that opened its first space in 2013 and grew at an impressive pace in the aftermath of the pandemic. At the time, CBRE said in a release that Industrious' success was "the result of an ongoing investment into understanding what makes for a great workplace, paired with continuous operational improvement."