That could have a big impact on Boston’s budget in the years to come. The city taxes commercial properties like office towers at a much higher rate than residential property — $24.68 per $1,000 of assessed value, compared to $10.74 per $1,000. Amid a broad real estate boom in the […]
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Looking for signs the U.S. economy can continue to stave off a recession? Avert your gaze from commercial real estate. City office buildings are in trouble. For a century, the towers have been propped up by two pillars. One, workers filling the buildings all week. Two, money flowing freely in […]
Separate reports by major brokerages CBRE and JLL show that the Manhattan office market is far from dead — or even stagnant. The surveys illustrate the extent to which the top tier of the office market is “impervious” to woes at the lower end, as CBRE phrased it. (The data from […]
SAN JOSE — A big San Jose tech building has toppled into a loan default, a financial setback that underscores the widening economic ailments that confront the Bay Area office market in the wake of the coronavirus outbreak. The office building at 10 West Tasman Drive is now delinquent on […]
