‘Zombie Offices’ Spell Trouble for Some Banks
www.nytimes.com
Bank tremors serve as a reminder: Just because a crisis hasn’t hit immediately doesn’t mean commercial real estate pain isn’t coming.

This is the real reason for companies wanting people back to the office.

All this talk about collaboration and team spirit is just the publicly given reason for wanting people back to the office.

The real reason is that now the owners of the buildings are losing money.

Cry me a river.

  • Dagwood222@lemm.eeEnglish
    30·
    10 months ago

    I live in New York. The Wall Street area has been turning older buildings into living spaces for a while. One old office building became an NYU dorm, and the Woolworth Building [once the tallest in the world] is now luxury condos.

    • Kecessa@sh.itjust.worksEnglish
      40·
      10 months ago

      And you know what’s nice about doing that? It’s people present 24/7 and that means stores and restaurants that can be open even past office hours!

      • Dagwood222@lemm.eeEnglish
        211·
        10 months ago

        It’s funny because back in the day, you could go down to Wall Street on a Sunday and have the whole place to yourself. Today, there are lots of bars and restaurants and groceries.

        • Kecessa@sh.itjust.worksEnglish
          7·
          10 months ago

          The only time I went was about 8 years ago on a Thursday evening and the place was dead, a few people that worked late and were going home, a few tourists here and there and that’s it…

        • Neato@ttrpg.networkEnglish
          7·
          10 months ago

          I was visiting a friend down there and walked back to my hotel at 2am. Literally the only people out were a bunch of cops standing around empty street corners.

          • Dagwood222@lemm.eeEnglish
            62·
            10 months ago

            So, you’re surprised that people with nice apartments full of goodies aren’t hanging out on street corners?