According to the latest Placer.ai location data analyzed by the New York Real Estate Board, Manhattan office “visitors” (a measure of total office tower occupancy, including retail stores and building employees) increased during the pandemic in November. It has been found that the recovery continues to be strong. yoke.
The study of 350 buildings found average visitor numbers at 67% of 2019 levels, or 73% excluding Thanksgiving week.
Not surprisingly, office attendance was highest in Class A+ locations at 79%, followed by Class A/A- locations at 66%, and Classes B and C at 64%. Midtown also had an average attendance rate of 71% compared to 57%. Downtown.
Keith DeCoster, vice president of research at REBNY, said the results “reflect the flight to quality and geographic trends we've witnessed since the inception of this report.”
But judging by the recent rental boom we recently reported on, not all landlords are as obsessed with physical attendance as they once were.
For example, JLL said November's 2.7 million square feet of leases brought its annual total to 25.3 million square feet, more than all of 2023, which was still due to close in December.
