August 14, 2020
The vast majority of office occupiers aren’t looking to leave New York City anytime soon in the wake of COVID-19, according to a new study from the CoreNet Global New York City Chapter.
More than 82% of respondents are in the process of reopening parts of their global portfolios, and more than 95% are currently relying on social distancing measures, such as reorganized office plans, more extensive remote working and flex spaces. Meanwhile, less than 4% reported any plans to set up satellite offices elsewhere, while less than 8% are also considering it.
“While it is a positive sign that many of our respondents continue to be committed to New York City, it is still too early to determine true impact of COVID-19 on the New York area real estate market,” said Colliers International’s Sheena Gohil, CoreNet NYC chair. “It is a trend we will continue to monitor closely.”
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