Five years post-pandemic, New York City's office building foot traffic has nearly returned to pre-pandemic levels, with April visits only 5.5% below 2019. This contrasts sharply with other major US cities, where foot traffic remains 30.7% lower. Placer.ai's data confirms broader trends seen by Realty Check, indicating a rebound that is beneficial for developers and landlords. While NYC's recovery is evident in busy areas like Midtown and new lease signings, the report also notes the impact of converting obsolete office buildings to apartments, influencing available inventory.
In April, visits to office buildings in New York City were only 5.5% below pre-pandemic levels, showcasing a remarkable recovery from the pandemic-induced slowdown.
The recovery in NYC office foot traffic significantly contrasts with other major cities, where attendance is still 30.7% below 2019 averages, highlighting NYC's leadership in recovering from the work-from-home trend.
Collection
[
|
...
]