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With high cost buildings in NYC it would seem companies would be happy to sell their billion dollar building and make like 2 small satellite offices closer to w
by xt00 4y ago
With high cost buildings in NYC it would seem companies would be happy to sell their billion dollar building and make like 2 small satellite offices closer to where the people live -- one say in eastern New Jersey and one in Brooklyn when you need to meet with clients or have big meetings or for the people who need to have a workspace away from home and save a ton of money having a large percentage of the company work from home. If it ends up being a competitive advantage, then you can imagine a wave of it happening.
- criticas 4y agoOne, most US companies don't own their buildings - they lease for the tax advantages. It comes down to capital expenditures vs operational expenditures. They're happy to reduce OpEx, but it's not like it's a billion dollar windfall. Two, satellite offices often aren't any more convenient for commuters, and often don't save as much money as you expect. You have to duplicate infrastructure in more locations. My son worked in Manhattan. His coworkers lived in Connecticut and Long Island; travelling to Brooklyn or New Jersey wasn't substantially easier for them. Even commuting between adjacent boroughs can be a pain if mass transit is oriented around getting people from the suburbs to the city core.
- spread_love 4y agoThe cost difference in Brooklyn is quickly evaporating, especially anywhere a very large company might be looking for office space (downtown). The NYC subway system doesn't go to Jersey, it's often subway => commuter train, you're lucky if it doesn't involve a bus at some point.