A growing number of New York City-based firms have considered short-term office space in the suburbs, in an effort to reduce density, keep employees closer to home and reduce their reliance on mass transit. The movement has provided landlords and brokers with a chance to showcase New Jersey’s growing stock of revamped and rejuvenated office buildings.
Sanzari drawing on 75 years of stability, relationships to guide tenants through crisis
Like other landlords, Alfred Sanzari Enterprises has spent months with its buildings mostly empty as businesses cope with the effects of the pandemic. But the family-owned firm has weathered the crisis and helped its tenants do the same thanks to its own financial strength and ability to act quickly, which stem from a patient, low-leverage approach that goes back 75 years.
Brogan: Apartment owners still facing economic, legislative concerns as health crisis continues
With New Jersey’s coronavirus crisis entering its seventh month, the state’s apartment industry still faces a long list of challenges amid legislative efforts to address the economic fallout. Real Estate NJ connected with David Brogan, the executive director of the New Jersey Apartment Association, who weighed in on everything from rent collections to state and federal policy proposals that he believes would have dire financial consequences for landlords.
Government officials not acting fiduciarily responsible
Since mid-March, our national GDP has plunged and New Jersey’s unemployment rate is startling, as budgeted state and local revenues are hemorrhaging. COVID-19 has made matters far worse and the budgetary pains and economic slowdown will be significant and sustained under any scenario. Our state and local elected officials must now make difficult decisions that do not jeopardize our future.
