2.2.23 - Manhattan offices surpass 50 percent capacity for first time since pandemic started
' A little over half of Manhattan office workers are back at their desks on the average weekday, while a strong majority of employers have either maintained or increased their office space, according to a new survey from the Partnership for New York City.
Details: The survey of more than 140 major employers in Manhattan found 52 percent of workers were at their offices on a typical weekday, as of late January, up from 49 percent in September. But just 9 percent of employees were back at the office five days a week.
Average daily office occupancy isn’t expected to budge much, according to the survey, with employers projecting 56 percent will be the “new normal.” The vast majority of employers — 82 percent — said they will have a hybrid work schedule in 2023, while just 9 percent will mandate that employees come in every day.
“Obviously there’s a new paradigm,” said Kathy Wylde, president and CEO of the partnership. Nonetheless, she added, “the fact that more than half the office workers are back every day is a big change from a year ago.”
In January 2022, only 16 percent of the Manhattan office employers surveyed said their average daily attendance exceeded 50 percent.
The share of employees who are fully remote, meanwhile, dropped from 16 percent in September to 10 percent last month, according to the survey.
What’s next: A majority of employers — 56 percent — said they expect no change in their New York City real estate footprint over the next five years, while 18 percent expect to downsize. The remaining 26 percent plan to expand their office real estate.
“Whether or not their employees are coming in everyday, they are still committed to maintaining a strong presence, so that’s a good thing,” Wylde said. “The impact is not necessarily so negative as many have thought.”
The survey noted 29 percent of employers have decreased their office footprint in the city since February 2020, while 54 percent maintained and 17 percent increased their office space during that time. '
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