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%.
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