We know there will be short-term affects when it comes to the real estate market and rental market in response to the Coronavirus pandemic. The question is how long that lasts. Will there still be issues 6 months from now? One year from now?

In places like New York City, the effects are significant. New rentals have plunged 71% in Manhattan. That’s a lot to unwind over the next 6 months to a year.

Will there be fewer office jobs in NYC as companies offer more remote work options? Will fewer people want to move to NYC until the virus is completely eradicated or we have a vaccine?

The psychological effects are real, and sometimes it can take years to get back to normal after a recession or event like an earthquake or hurricane. Effects from a pandemic may be even worse.

The Council on Tall Buildings and Urban Habitat (CTBUH) has determined that the official height of One World Trade Center in New York City is 1,776 feet (541.3 meters) to its architectural top, making it the tallest building in the US over the Willis (formerly Sears) Tower in Chicago. The key to the determination was that the addition at the top of the building spire integral to the design of the building as opposed to being just an antenna. Naturally, this will spark some controversy, but the CTBUH is the organization that makes these official determinations.

We snapped this photo of this still unfinished building recently from the Trump hotel in Soho which provided an excellent view. One World Trade Center is certainly a beautiful and welcome addition to the New York City skyline.