September 14, 2025
For years, the narrative around New York City’s office market has been that remote work killed demand, leaving behind empty towers and uncertain futures. But the latest data tells a very different story: more people are working in NYC offices today than before the pandemic.
According to Placer.ai, Manhattan office attendance in July 2025 was 1.3% higher than July 2019 levels. That’s a remarkable recovery considering how many experts predicted a permanent shift to remote and hybrid work. Even more telling, Manhattan office vacancy has dropped to around 16% citywide, with prime buildings reporting near-full occupancy.
The return-to-office movement isn’t just about office landlords; it’s boosting the entire city economy. Major companies like Amazon, Goodwin Procter, and Sumitomo Mitsui Banking Corp. are signing leases in prime Manhattan towers, while developers like BXP are confident enough to build new office space even before full pre-leasing.
On the retail side, fast-casual chains like Sweetgreen, Pret-a-Manger, and Joe & the Juice are filling long-vacant storefronts in Midtown and Downtown, thanks to workers returning five days a week.
What’s especially significant is how NYC stacks up against other U.S. cities. While Los Angeles and Chicago remain far below pre-pandemic office use, and even Miami hasn’t fully recovered, Manhattan is leading the way. This reinforces New York’s role as the country’s business hub — a place where face-to-face interaction, networking, and collaboration still matter.
Hybrid work isn’t dead, but the idea that NYC’s office market is doomed doesn’t hold water anymore. Offices are alive, active, and once again powering the city’s economy.
Disclaimer: This content is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice.
