In this series, Bisnow highlights people and companies pushing the commercial real estate industry forward in myriad ways. Click here to read Q&As with all the innovators Bisnow has interviewed so far.
Before the crisis, health and well-being in the workplace fell into the buzzy amenity category. These days, they are considered crucial.
While many landlords have rushed to revamp spaces to encourage office workers return, most people are continuing to work remotely. In New York City, for example, only 10% of companies have come back from remote work even as the ramped-up vaccine rollout and loosened restrictions have brought back some of the city bustle.
Victoria’s Secret Loses Legal Bid To Skip Rent At Herald Square 2 Herald Square
An eight-month legal battle has come to an end with a Manhattan judge ruling that Victoria’s Secret is still on the hook for its nearly $1M per month rent in Herald Square, despite the problems caused by the coronavirus crisis.
The retailer sued its landlord, SL Green, in May, saying it should be allowed out of the lease for space at 2 Herald Square. Lawyers had argued that with the city closed for business, the lease was rendered “nonsensical.” The retailer has been in the space for nearly two decades.