Is the Midtown office building half empty or half full?
With white-collar workers viewing the five-days-in-person week as optional, property investors terrified of losing billions are trying to persuade the city to let them do something else with their real estate, from casinos to housing. But a half-occupied office building may be worth more to New York.
As the city approaches the third anniversary of COVID lockdowns, Manhattan’s skyscrapers hover around the 50% occupancy mark.
Continue reading the entire piece here at the New York Post
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Nicole Gelinas is a senior fellow at the Manhattan Institute and contributing editor at City Journal. Follow her on Twitter here.
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