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Office vacancies soar in New York, a dire sign for the city's recovery


Matthew Haag, The New York Times
Published: 02 Jul 2021 09:23 AM BdST
Updated: 02 Jul 2021 09:23 AM BdST
The 140 Broadway building, centre, in Lower Manhattan, May 13, 2020. The amount of office space available for lease in Manhattan has soared to the highest rate ever, according to reports released on Thursday, July 1, 2021. The New York Times
Even as New York City reopens and embarks on a long road to economic recovery, the pandemic’s lasting legacy of a changing workplace is emerging as a major obstacle to the revival of the vital commercial districts that help fuel the city’s economy.
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While some companies are preparing to call back workers to their offices, the amount of office space available for lease in Manhattan has soared to the highest rate ever, according to reports released Thursday, underscoring how the sudden shift to remote work during the coronavirus pandemic is upending the city’s commercial real estate industry. ....

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