The return-to-office movement is gaining momentum as it continues its upward trajectory, with December seeing a significant surge in average visitation rates at 350 Manhattan buildings, reaching 67% of 2019 levels.
This latest figure represents a notable increase from the 65% recorded in November.
If the typically quieter final week of December, sandwiched between Christmas and New Year’s, were excluded from the calculation, the rate would have been even higher, at 74%.
REBNY’s analysis is based on Placer.ai location data, which tracks the mobile data of office tenants and employees, providing valuable insights into office occupancy trends.
Upward trajectory
The return-to-office movement has been on an upward trajectory since REBNY began publishing its findings early last year.
In December, premium Class A+ buildings saw an average visitation rate of 74%, while Class A, A-minus, and B/C properties recorded rates of 64% and 68%, respectively.
Midtown Manhattan experienced the most significant growth, with visitation rates reaching 73%.
Meanwhile, Midtown South remained stable at 68%, and Downtown Manhattan saw a slight dip to 54%.
Encouraging trend
The return-to-office movement in New York City reflects a broader nationwide trend as businesses and employees navigate the evolving landscape of remote work and office presence in the post-pandemic era.
The data from REBNY suggests that New York City is continuing to adapt and recover, with the return to pre-pandemic office occupancy levels firmly in sight.
