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Remote Work Is Here to Stay. Manhattan May Never Be the Same.
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Remote Work Is Here to Stay. Manhattan May Never Be the Same.

New York City, long buoyed by the flow of commuters into its towering office buildings, faces a cataclysmic challenge, even when the pandemic ends.

Matthew Haag
The New York Times, 2021
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Recommendation

The coronavirus pandemic continues to shape how and where people work, Matthew Haag reports in The New York Times. Remote working, once an uncommon benefit, became the norm almost overnight as lockdowns gripped cities around the world. A year later, these policies are here to stay, as employers and employees recognize the benefits of flexible work. However, cities and businesses miss the income daily commuters generate, as distinctions between work and home life blur. These effects may linger long after the pandemic ends.

Take-Aways

  • The pandemic burst the commercial real estate bubble in Manhattan.
  • Remote working has become the norm and will continue as a permanent policy at many organizations, regardless of lockdown rules.
  • Bucking this trend, Apple and Facebook are expanding their NYC office spaces.

About the Author

The New York Times reporter Matthew Haag covers the intersection of real estate and politics in New York City. 

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