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%).
Related Stories
Giants 400 | Oct 18, 2017
Top 105 office construction firms
Turner Construction Co., Structure Tone, and Holder Construction top BD+C’s ranking of the nation’s largest office sector contractors and construction management firms, as reported in the 2017 Giants 300 Report.
Giants 400 | Oct 17, 2017
Top 60 office engineering firms
AECOM, WSP, and Thornton Tomasetti top BD+C’s ranking of the nation’s largest office sector engineering and EA firms, as reported in the 2017 Giants 300 Report.
Giants 400 | Oct 17, 2017
Top 110 office architecture firms
Gensler, Jacobs, and HOK top BD+C’s ranking of the nation’s largest office sector architecture and AE firms, as reported in the 2017 Giants 300 Report.
Reconstruction & Renovation | Sep 28, 2017
Plans for Chicago’s historic Post Office building revealed by 601W Companies and Gensler
The redevelopment project is currently the largest in the nation.
Office Buildings | Sep 27, 2017
Gensler designs New Jersey law firm’s new headquarters space
The HQ occupies 75,000 sf in a 400,000-sf suburban office building.
Mixed-Use | Sep 26, 2017
Perkins+Will designs new international business community in Cali, Colombia
The new free trade zone is designed to resemble a small village.
Office Buildings | Sep 20, 2017
Five Stantec offices move into one Fifth Avenue location
The new location provides the firm with 40,000 sf of space.
Industrial Facilities | Aug 29, 2017
Clayco completes construction on Georgia-Pacific Distribution Center
The new facility expands on the company’s old distribution facility by over 300,000 sf.
Green | Aug 24, 2017
Business case for WELL still developing after first generation office fitouts completed
The costs ranged from 50 cents to $4 per sf, according to a ULI report.
Market Data | Aug 20, 2017
Some suburban office markets are holding their own against corporate exodus to cities
An analysis of mortgage-backed loans suggests that demand remains relatively steady.
