Office Building Losses Start to Pile Up

“Since the early days of the pandemic, owners of big buildings in New York and other large cities have been desperately hoping that the commercial real estate business would recover as workers returned to offices,” the New York Times reports.

“Four years on, hybrid work has become common, and the strain on property owners is intensifying. Some properties are going into foreclosure and being sold for sharply lower prices compared with valuations from less than a decade earlier, leaving investors with steep losses.”