The Strain Is Showing for NYC’s Two Biggest Office REITs
Propmodo
FEBRUARY 5, 2023
The pandemic, followed by an economic downturn, has created a perfect storm for the office market. The national office occupancy rate passed 50 percent for the first time since the pandemic began. But it’s been a long slog to reach that milestone, and occupancy numbers are still low compared to pre-pandemic levels. There are signs of resilience among office REITs amid this turmoil, but the overall outlook remains grim.
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