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Manhattan in Motion May 2024 Research Hero Image Large.jpg Manhattan in Motion May 2024 Research Hero Image Mobile.jpg

Read and download New York City’s latest Thought Leadership Report: 
Manhattan in Motion | Decoding New York City's Office Resurgence with Location Intelligence

Office visitation rates are rebounding as work patterns evolve post-pandemic, with notable differences across various markets and asset classes. This report leverages Placer.ai data combined with Cushman & Wakefield’s dataset of nearly 700 Class A and B buildings to analyze the upward trend and its impact on the future of the workplace in Manhattan.

Key findings from the report include:

  • Weekly Office Visits: Anonymized mobile device data recorded a weekly average of 2.3 million office building visits in March 2024, yielding a 72.2% recovery from February 2020 
  • Peak Weekday Visits: Average weekday visits are the highest on Wednesdays, recovering 83.5% of the February 2020 baseline—11.3 percentage points higher than the overall market
  • Performance of Trophy Assets: Trophy assets accounted for 16.7% of Midtown average weekly visits in March 2024, up 100 basis points from one year ago
  • Occupied Square Footage: Over the past three years, occupied square footage has become 74.2% more concentrated, contracting from 468.1 square feet (sf) per visit to 120.6 sf per visit in the first quarter of 2024
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