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Study: Remote work could slash office-property values by $500B by 2029

ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.

A recent study by New York University and Columbia University professors suggests office-building valuations could see steep drops in the coming years, owing to broad changes in how, and where, people work.

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Using leasing data from CompStak Inc. and analysis of publicly traded office REITs, the researchers developed a valuation model that determined, if remote work persists, long-run office valuations in New York specifically will be about 28% below pre-pandemic levels.

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Attempts to reach Arpit Gupta, assistant professor of finance at NYU Stern School of Business who worked on the study, for an interview were unsuccessful by deadline.

Click here to read the full story on the Orlando Business Journal’s website.