Analysts cite a jobless recovery and global economic concerns for the increase in vacancy rates as businesses are reluctant to commit to space they are not sure they will need in the future.  Bucking the downward trend is New York City — the nation’s largest and most expensive office market. Second quarter vacancy rates dropped in midtown and downtown locations, and were well below the national average — a possible sign economic green shoots are starting to take root in the Big Apple.

Uncertainty is probably the most obstructive hurdle businesses are facing today.  Signing a long-term lease when a business can’t adhere to a long-term plan doesn’t make sense.  Companies should be careful not to repeat the property decisions of the past that left them straddled with underutilized space today.

Technology and the rise of the mobile worker are the top factors impacting the real estate decisions in the 21st Century.  The ability to get work done anywhere at any time will allow business to quickly capitalize on business opportunities.  Long-term lease agreements do not complement this new way of working.

If you stood outside 40 Wall Street in 1930, yes indeed, you’d be looking at the world’s tallest building! Although the global title was held for only a brief time, it’s still part of the history of the world. Well regarded today as the Trump Building, 40 Wall Street is a desirable, convenient and recognized business address with top notch building amenities from the entrance and throughout the building. Here are some more facts and trivia on this historic building that is home to the OfficeLinks Wall Street Location:

• Originally named the Bank of Manhattan Trust Building, 40 Wall Street was
  

  40 Wall Street 1930

  remarkably completed in less than one year.

   

   

   

• The story begins in 1929 when in a race against his former partner William Van Alen to build the country’s tallest building, H. Craig Severance set out to erect a 927-foot structure to stand at the heart of New York’s financial district.
• The building at 40 Wall Street was to tower 135 feet above Cass Gilbert’s gothic Woolworth Building, which was completed a decade earlier.
• And, perhaps more importantly, Severance’s plans edged the projected 925-foot height of Van Alen’s Chrysler Building by a significant two feet.
• When completed in 1930, 40 Wall Street briefly held the title of world’s tallest building. (Currently it ranks 33rd).
  
• However, in a sly maneuver, Van Alen secretly changed the projected height of the Chrysler Building after 40 Wall Street had been completed. A 185-foot spire was secretly assembled in the building’s crown and hoisted into place, fulfilling tycoon Walter Chrysler’s dream of owning the tallest building on Earth.
• Despite losing the status of world’s tallest building, 40 Wall Street, dubbed “The Crown Jewel of Wall Street,” would long dominate the skyline of lower Manhattan with its ornate pyramidal crown and gothic spire.
• In 1996, Donald Trump renovated 40 Wall Street to its original grandeur with “3,500 Wausau windows, two 1,300-ton York Chillers, state-of-the-art safety and communications systems, and an all new Italian marble and bronze lobby.”
• OfficeLinks opened it’s doors at Trump tower in (2005?). Their Business Cener is located on the 28^th and 29^th floors and boasts spectacular city and water views coupled with all the advantages of lower Manhattan’s most prominent business address. Clients that OfficeLinks at 40 Wall Street – thrive.

Source: NYC Architecture