[jtown,man]

Originally Posted by homebucket

Of course Manhattan and other downtowns will never be the same. Things are always changing. You just have to learn to adapt.

In SF, Facebook is going to reopen at 10% in May, then 50% by September, as long as everything goes well. There's a subset that will be allowed to work remotely permanently, and they can even relocate, but their compensation will be adjusted accordingly. Wells Fargo isn't going to reopen until September as well. Peak population during work hours may eventually get 90%(?) perhaps back to the original baseline, but for the time being, this is the new normal. Office space will likely consolidate like Salesforce is doing, and while others may eventually come in to take those spaces, the pandora's box of remote work has now been opened, and as a result, CBDs, and even suburban offices, are likely to be less busy, even if vacancy is at baseline.

I'm not buying that Manhattan is unique in this regard, as they themselves, have been a big benefactor of the tech boom, and remote work culture.



https://www.foxbusiness.com/markets/...h-office-space

The bolded scares me. Not only can offices downsize their footprint, but save tons of money if people decide to leave our expensive cities.