At this point, real estate investors with office REITs in their portfolios are eager to see occupancy rates increase in Manhattan. The fear is that the longer it takes for companies to call workers back to the office, the longer office REITs with heavy concentrations of Manhattan properties will remain sluggish. Now the bad news is that only 12% of Manhattan office employees had returned to in-person work as of late May. However, employers expect that 29% of employees will have returned to office buildings by the end of July.
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