M
anhattan office visitations continued their strong recovery from the pandemic in November, according to Placer.ai data analyzed by the Real Estate Board of New York. The survey of 350 buildings found average visitation rates at 67% of pre-pandemic levels, or 73% excluding Thanksgiving week.

    Office attendance varied by building class and location. Class A+ locations saw the highest level of attendance at 79%, followed by Class A/A- locations at 66% and Classes B and C at 64%. Midtown averaged 71% attendance compared to 57% in downtown areas.

    The results reflect ongoing trends, according to REBNY vice-president of research Keith DeCoster. However, the leasing market suggests that landlords are shifting their focus away from physical attendance. November saw a significant leasing boom, with 2.7 million square feet leased, bringing the year's total to 25.3 million square feet – surpassing the entire 2023 total before December closings are even accounted for.