Office workers in Manhattan continue to return to their workplaces in sufficient numbers for many of their employers to maintain or expand their footprint in the city, according to a survey of more than 140 major Manhattan office employers conducted in January by The Partnership for New York City.
The survey found that 52% of Manhattan office workers are currently at their workplace on an average weekday, up from 49% in September 2022. Hybrid working arrangements are still the norm, as just 9% of employees are in the office five days a week, a percentage that is unchanged from September.
The share of office employees that are fully remote, though, dropped from 16% in September 2022 to 10% as of late January. For employers with a hybrid model, the survey reports that 59% of employees are in the office at least three days a week.
While 29% of employers have reduced their real estate footprint since February 2020, 17% increased their footprint, and 54% had no change. A larger share of employers (26%) expect to increase their real estate footprint over the next five years than expect to reduce it (18%); the majority (56%) expect to maintain their current footprint.
About half (48%) of employers expect to increase their New York City workforce, 45% expect to maintain current headcount, and only 7% expect to reduce headcount.
The majority of respondents are in financial services (37%), real estate (17%), law (11%), tech (6%), media (6%), and consulting (4%). The majority of surveyed employers have offices in Midtown West (54%), Midtown East (23%), or the Financial District (15%).
![Post-Covid Manhattan office market rebound gaining momentum](/sites/default/files/inline-images/Screenshot%202023-02-09%20at%201.24.15%20PM.png)
Related Stories
Adaptive Reuse | Jul 12, 2024
Detroit’s Michigan Central Station, centerpiece of innovation hub, opens
The recently opened Michigan Central Station in Detroit is the centerpiece of a 30-acre technology and cultural hub that will include development of urban transportation solutions. The six-year adaptive reuse project of the 640,000 sf historic station, created by the same architect as New York’s Grand Central Station, is the latest sign of a reinvigorating Detroit.
Government Buildings | Jul 8, 2024
GSA adopts new accessibility guidelines for federal properties
The U.S. General Services Administration (GSA) adopted a new rule with new accessibility guidelines for federal buildings. The rule establishes that pedestrian facilities in the public right-of-way are readily accessible to and usable by people with disabilities.
Office Buildings | Jul 8, 2024
Office vacancy peak of 22% to 28% forecasted for 2026
The work from home trend will continue to put pressure on the office real estate market, with peak vacancy of between 22% and 28% in 2026, according to a forecast by Moody’s.
Office Buildings | Jul 1, 2024
Mastering office layouts: 5 primary models for maximum efficiency and productivity
When laying out an office, there are many factors to consider. It’s important to maximize the space, but it’s equally important to make sure the design allows employees to work efficiently.
Smart Buildings | Jul 1, 2024
GSA to invest $80 million on smart building technologies at federal properties
The U.S. General Services Administration (GSA) will invest $80 million from the Inflation Reduction Act (IRA) into smart building technologies within 560 federal buildings. GSA intends to enhance operations through granular controls, expand available reporting with more advanced metering sources, and optimize the operator experience.
Sustainability | Jul 1, 2024
Amazon, JPMorgan Chase among companies collaborating with ILFI to advance carbon verification
Four companies (Amazon, JPMorgan Chase, JLL, and Prologis) are working with the International Living Future Institute to support development of new versions of Zero Carbon Certification.
Multifamily Housing | Jun 14, 2024
AEC inspections are the key to financially viable office to residential adaptive reuse projects
About a year ago our industry was abuzz with an idea that seemed like a one-shot miracle cure for both the shockingly high rate of office vacancies and the worsening housing shortage. The seemingly simple idea of converting empty office buildings to multifamily residential seemed like an easy and elegant solution. However, in the intervening months we’ve seen only a handful of these conversions, despite near universal enthusiasm for the concept.
Adaptive Reuse | Jun 13, 2024
4 ways to transform old buildings into modern assets
As cities grow, their office inventories remain largely stagnant. Yet despite changes to the market—including the impact of hybrid work—opportunities still exist. Enter: “Midlife Metamorphosis.”
Mass Timber | Jun 10, 2024
5 hidden benefits of mass timber design
Mass timber is a materials and design approach that holds immense potential to transform the future of the commercial building industry, as well as our environment.
Office Buildings | Jun 6, 2024
HOK presents neurodiversity research and design guidelines at SXSW 2024
Workplace experts share insights on designing inclusive spaces that cater to diverse sensory processing needs.