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Working Papers

Option Value and Storefront Vacancy in New York City

Erica Moszkowski, Daniel Stackman • April 12, 2023

Why do storefronts remain empty for more than a year in some of the world’s highest-rent retail districts? Landlords with vacancies derive option value from two sources of…
Blog

How Has the Pandemic Affected Landlords?

Elijah de la Campa, Vincent J. Reina • August 25, 2021

As has been well documented, the financial consequences of the COVID-19 crisis have been severe, particularly for the nation’s renter households who have been more likely to…