The pandemic’s shadow still looms over D.C.’s commercial real estate market
Earlier this year, we published a chart of the week on how difficult it is to know what commercial offices are valued at because there are so few sales occurring. This matters greatly in D.C. because the city collects over $1.1 billion in tax revenue from commercial office buildings, and uncertainly about building values adds to fiscal risks and uncertainties. Scenario analyses based on underlying market trends show that commercial office property will likely experience deep value cuts.