New York and Chicago have been the hardest hit, with the number of cranes in each city down 69 percent since February of 2020, just before the onset of the COVID-19 pandemic.
Ian Jacobs, 47, has decided to purchase an estimated $900million worth of office space in San Francisco. He has set up $75million in commitments for the new business venture
Microsoft is the latest tech giant to scale down their presence in the city with Meta and LinkedIn both subletting space in recent months and office vacancy rates at an all time high.