Kaufman Opines on Leasing Trends with Practical Law/Thomson Reuters
Partner Bradley Kaufman, co-chair of the firm's Leasing practice, sat down with Practical Law/Thomson Reuters to discuss recent trends in leasing, and how COVID-19 has impacted the real estate market in New York and around the country. The interviews, conducted with all of the members of the Practical Law Advisory Board, quoted Kaufman throughout the piece, and included a few key highlights:
"What surprised me the most in 2021 was the slow pace of the marketplace to start and re-establish itself. The Omicron wave of the COVID-19 pandemic was extremely detrimental for businesses, particularly those in the retail sector. Any comeback in 2022 will completely depend on the public’s perception of where we are in the battle against COVID-19. If the public thinks the threat is easing and the health risk generally is low, they will resume shopping in person and dining in restaurants, which will likely spur activity in the retail sector. Additionally, any comeback will greatly depend on the availability of labor and the supply chain."
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