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Analysis

Return-to-Office Real and Accelerating in NYC

However, crime and weak job growth could limit the upside, according to BTIG.

By Paul Bergeron | March 17, 2022 at 09:01 AM

Over the past 10 weeks, office utilization in the 10 largest US cities has rebounded to 99.6% of pre-Omicron levels. Office utilization in NYC is 98.5% of the prior peak, and its current pace of recovery is the fastest of any market outside of Texas.

Transit ridership, and restaurant data suggest that New York’s return-to-office trends “are very real and accelerating,” according to a new report by BTIG.

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