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WatchesAndNYC t1_ja9lxca wrote

Reply to comment by mr_feenys_car in Midtown Owners Hedge on Costly Office-to-Home Conversions by psychothumbs

A company I work with did a 30 year 10 full floors of a building in 2018, and the staff is now completely remote except a small team I’m on that meets there once a month. It’s absolutely insane to see it so empty. All that space, all that money, just going to waste. They leave the lights on 24/7 just to help the city look a bit more alive haha

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columbo928s4 t1_ja9tke0 wrote

can the company not sublease it out?

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pedalbot_0785 t1_ja9z42e wrote

to whom tho?

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columbo928s4 t1_ja9zsd8 wrote

yeah i mean that's the big challenge, but i assume if they're willing to take a substantial haircut on the $/sqft they can find a tenant, and having a tenant pay any portion of their fixed lease costs seems preferable to just eating the full cost of a 30 year 10 floor lease if they are legitimately never using the space

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ctindel t1_jadwcvl wrote

Signing a 30 year lease for office space just seems so stupid at face value anyway even before the pandemic.

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