White Paper, The Future of NYC Real Estate: A Think Bigger Innovations Workshop
The Problem: New York City’s real estate market is at a transition point. Coming out of the COVID-19 pandemic, the city’s real estate market has seen signifcant shifts, including increased urban-to-suburban migration (Gupta et al. 2022), residential rent and housing affordability issues, and reduced value and usage of urban office space due to the adoption of remote and hybrid work (Gupta, Mittal, and Van Nieuwerburgh 2023) and higher interest rates.