NYC is facing a dire situation as commercial leases are renting much smaller spaces ...Middle East

The not-so-slow-motion divestment of companies from millions of square feet of office space is underway, posing what may well be the biggest threat to New York tax collections and its wider economy in generations. A nimble city needs to give businesses and individuals as much flexibility and power as possible to repurpose underutilized spaces, lest empty, white-elephant commercial real estate drags us all down.

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