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Survey: 82% of Manhattan Office Occupiers Plan to Maintain or Enlarge Their Space

Despite the persistence of a hybrid working model that has only 9% of office-using employees in the office five days a week, 82% of Manhattan occupiers plan to either maintain or increase their real estate footprints over the next five years, the Partnership for New York City reported recently. 

Return to office rates are approaching employers’ expected “new normal” occupancy rates of 56%, according to the Partnership. Occupancy reached 52% as of late January, up from 49% in September 2022. 

Consistent with past surveys, 82% of employers surveyed indicated a hybrid office schedule will be their predominant policy in 2023. For employers with a hybrid model, the survey reports that 59% of employees are in the office at least three days a week. 

Real estate firms have the highest office occupancy rates at 80%, the Partnership reported. Financial services followed with 59% occupancy and law firms reported 58%. 


Inside The Story

Partnership for New York City

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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