NYC Office Vacancies Are At Record High
Allwork
APRIL 14, 2023
What’s going on: As the demand for office space dropped due to the switch to remote working, New York City office vacancy rates surged to an all-time high of 16.1% in the first quarter of 2023 — leading the way in a nationwide trend that saw vacancy rates sitting at 16.4%. As a result, New York has been attempting to repurpose office spaces into residential buildings.
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