PowerPoint Presentation

Key Points

• The situation is evolving and our firm’s position is that the economic impacts are unknowable. • Human decisions were made to contain the outbreak, and forecasts require assuming what future decisions will be made and when, making the nature of this “economic shock” difficult to predict in a more traditional sense. • We can do an impact study with various scenarios. • Usually impact studies do not involve ongoing situations (e.g., Hurricane Sandy, 9/11). • This study examines the impact on Manhattan’s office market under various economic scenarios, including preliminary estimates of additional stress on the market due to unique coworking challenges. Keep in mind that vacancy had hit its bottom and rents their peak prior to COVID-19.