Insight
In this special episode of Buildings 2.0, Jose speaks with Michael Cohen, President, Tri-State Region, Colliers. Michael shares valuable lessons his mentor taught him, how a building owner might think differently about their building depending on its classification, and the metamorphosis he is seeing in New York.
He also discusses emerging trends in how landlords in the area are trying to get creative with how they use their spaces and how technology will never replace human brokers.
Topics discussed:
- The day-to-day of a broker: it's a juggling act and a little like triage.
- The importance of mentors and a few lessons Michael's own mentor taught him.
- How a building owner would think differently depending on the class of their building.
- How New York is experiencing a metamorphosis, including the key players and what changes are coming.
- Emerging trends of landlords thinking creatively of how to use spaces.
- Which enterprising trends worked and which did not, as well as how some of these trends have circled back around.
- How technology such as AI will never replace all the human work brokers can do.
Guest Quotes:
#1.)
“I have my retail, I have my traditional long-term office. I have my short-term office, meaning two to three years. And I have my suites operation. And this is how I've diversified my product. And I think we'll see a lot of that. We're certainly looking at those options in our portfolio, and in some cases I've already put them into service.” (28:57-29:21)
#2.)
“That metamorphosis has just begun. And I think there's a lot of optimism about what's on the other side of that metamorphosis. Where New York ends up. It always seems to find its way out of these challenges.” (12:48-13:03)
#3.)
“The city, I have to say, you know, I'll give them a pat on the back I think the city has a number of initiatives underway that are going to be helpful in bringing about this transformation.” (16:18-16:27)
#4.)
“The technology that has figured out how to deliver that external homeostasis that we crave within the office place has come a very long way during my 40 years in business on that subject. The elephant in the room is the environment itself.” (38:11-38:28)
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