How quickly will New York City recover from the pandemic’s jiu jitsu move that uses the city’s greatest strengths against it? The answer may lie in real estate investment trusts. The fate of four major REITs whose assets are concentrated in New York City — Empire State Realty Trust, SL Green Realty, Vornado and Paramount — suggests that Covid-19 has hastened the cyclical decline of office-anchored investment properties, according to the Wall Street Journal. The
source https://therealdeal.com/2020/07/06/reits-a-crystal-ball-for-nycs-commercial-real-estate/
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