NYC’s Office Return Surges, Reaching 70% of Pre-Pandemic Levels

In December, the resurgence of the return-to-office trend saw average visitation rates at 350 Manhattan buildings climb to 67% of 2019 levels, as reported by the Real Estate Board of New York (REBNY). This marked an increase from the 65% recorded in November. Excluding the last week of December, typically quiet between Christmas and New Year’s, the rate would have been 74%. REBNY’s analysis utilizes location data, tracking the mobile data of office tenants and employees. The trend, highlighted by the organization since early last year, demonstrates a steady rise in office occupancy percentages compared to 2019. In December, premium Class A+ buildings led with an average visitation of 74%, while Class A, A-minus, and B/C properties recorded 64%, 68%, and 67%, respectively.

*Article courtesy of NYPost

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