Manhattan Offices Are Nearly Empty, Threatening New York City’s Recovery

  • 📰 WSJ
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 63%

United States Headlines News

United States Latest News,United States Headlines

Only about 10% of Manhattan office workers were back as of Sept. 18. That could spell trouble for New York City’s recovery from the Covid-19 pandemic.

Manhattan office employees are returning to work at a much slower pace than those in most other major U.S. cities, raising the risk that New York faces a more protracted and painful recovery fromWall Street bankers have been trickling back to their glass towers, while real-estate firms have tried to set an example by encouraging staff to return in force. But most of the city’s lawyers, media and publishing employees, tech industry workers and others have stayed away, real-estate brokers say.

for the first time since offices closed in March because of the pandemic. The monthslong stretch of near-empty office buildings has had a debilitating knock-on effect in Midtown Manhattan and other business districts, leading many small shops and restaurants to shut down for good. Nationally, about 25% of office workers have returned as of this month, on average, according to real-estate services firms. Some large metropolitan areas are considerably higher, such as Dallas at 40% and the Los Angeles metro area at 32%, industry professionals say. The reoccupation rate in New York’s suburbs is 32%, according to CBRE, which manages 20 million square feet of office property in the region.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Thanks to Trump who is ultimately responsible

the result of the inept leadership of your mayor---more correctly, at this point, he has to be just plain ignorant---

Jobs not Mobs 2020.

Big cities have been riding the wave of urbanization for 30 years while generally being poorly run. We will see if this is the day of reckoning.

Let it die! Take DiBlasio's policies with it.

Last one out turn out the lights and pay your tax bill

And businesses are learning you don’t have to have every employee in the office every day.

NYC could use some price deflation

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 98. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

New York Nico Is Helping Save New York City, One Instagram Post at a Time'A record store isn't going to sell enough records to make enough money to cover their $17,000 rent in East Village.' Nicolas Heller AKA New York Nico NuevaYorkNico is using his platform to help save New York City's small businesses. NuevaYorkNico Don’t stop following your dreams no matter how high they might seem to be you’ve got to fight to keep them alive and shine the light into the corruption of property owners everywhere and every time. Tell people how they make their dimes on the back of the American dreams.
Source: ELLE Magazine (US) - 🏆 472. / 51 Read more »

Dexta Daps Holds Seemingly Packed Concerts in New York & New JerseyDexta Daps played two seemingly packed outdoor concerts on Sept. 26 and 27, and is now facing some heat. See the videos.
Source: billboard - 🏆 112. / 63 Read more »

Lily Allen 'moving to New York' to live with new husband David HarbourLondon born Lily Allen is reportedly getting ready to pack up and move stateside as she embarks on married life with her new husband Good riddance The rest of the Uk
Source: Mirror Celeb - 🏆 476. / 51 Read more »

Top seven revelations from New York Times report on Trump income taxesThe bottom line from the New York Times report: President Trump has had small federal tax bills and major financial losses during his business career, and some of his tax maneuvers have come under legal scrutiny. What his tax returns didn’t show was collusion with Russia - meanwhile Hunter Biden received a $3.5 million wire transfer from Elena Baturina. Ms. Baturina is the wife (widow) of the former mayor of Moscow. TrumpSyndicate (DJT, GOP, Trump Org, Barr, DOJ) is a crime scene whichever direction you look. As POTUS, Trump is: - padding own pockets w govt funds - destroying fabric of Americana - plunging Int’l credibility - purging criminal records of allies - targeting political foes Well, you know...only suckers pay taxes. 🤨
Source: USATODAY - 🏆 100. / 63 Read more »

9 key takeaways about Trump Inc. from the New York Times reportA bombshell New York Times investigation has offered the most conclusive proof yet that President Trump's business empire is nowhere near as successful as he claims Whomever leaked those private documents to the nytimes (slimes) needs to be arrested and prosecuted to the fullest extent of the law. Felony charges for all involved. A house of cards built on a pyramid. We have only seen info from his time in the Presidency where he had to separate himself from his business.... but OK
Source: CNN - 🏆 4. / 95 Read more »

One Woman’s Journey From New York Bond Trader to OrthodontistShe liked the action of trading, the rapid-fire math, the smart people, the pay. But after a few years, Chris Bonebreak Jackson wanted out. So she began a 7-year transition into the family profession. Welcome to the broadcast Well, to a large degree, trading is like pulling teeth. Bonebreak? Really?
Source: WSJ - 🏆 98. / 63 Read more »