There’s No Easy Fix to Midtown’s Post-COVID Half-Empty Offices
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.
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