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Manhattan Commuter Hubs Report June 2020

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On June 8th, New York City began its slow emergence out of the shutdown caused by the COVID-19 pandemic and entered Phase 1 of reopening. An estimated 200,000-400,000 people returned to work in the Phase 1 reopening that's limited to manufacturing, construction and non-essential retail. (for curbside pickup). As office workers eventually return in Phase 2 and the estimated 2.6 million daily workforce in Manhattan fully returns, the short-term and long-term impact of the COVID-19 pandemic will be closely monitored. One impact worth monitoring will be on the commutation patterns of the Manhattan workforce.

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Manhattan Commuter Hubs Report June 2020

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Franklin Wallach

Executive Managing Director

New York

Franklin Wallach is a Senior Managing Director, Research at Colliers International. Franklin's role includes a focus on quarterly and monthly trends within the Manhattan and Brooklyn office markets while using multiple databases and maintaining contacts within the industry in order to provide in-depth market analysis to brokers and clients.

Franklin reports on the office market on a monthly and quarterly basis through analytical reports as well as presentations to tenants, landlords and the press. Data analyzed by Franklin includes: average asking rents, availability rates, concessions, absorption, tenants in the market, leasing activity, construction and future tenant demand. Franklin has been quoted by numerous New York City commercial real estate periodicals including The Real Deal and GlobeSt.com.

Franklin joined Colliers after working in CBRE's Lower Manhattan office as a Senior Research Analyst.

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Chemerie Cheng

Managing Director - Research & Consulting

New York

With more than 20 years of experience in commercial real estate research and  analyses, Ms. Cheng’s expertise includes complex database management, corporate real estate and advisory consulting.

Ongoing projects include: currently managing the Americas property portfolio for European based company; and conducting  regular demographic and employee commutation analyses for Client data firms.

She was the Manager of Real Estate Analytics of Studley, Inc. While at Studley, she headed the analyses and production of the regular quarterly reports and in-depth studies of the effective rental rents for prime Class A office properties. Ms. Cheng coordinated with the local offices to develop and maintain property research databases for 15 cities, and established two new market reports as part of the company expansion.

Prior to Jones Lang LaSalle, Ms. Cheng was a Research Analyst with LaSalle Investment Management in New York City, focusing on the multifamily markets and the Northern New Jersey Industrial market.

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Brennan Yerman

Director - Research

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