N
ew York City office building foot traffic has largely recovered from pandemic losses, with visits in April only 5.5% below 2019 levels, according to data from Placer.ai. This makes the city a leader in back-to-office trends nationwide.

    While other major US cities like Los Angeles, Chicago, and San Francisco saw significant declines in office visits, averaging 30.7% below 2019 levels, New York City's recovery is notable. The city's office attendance surge is evident on streets like Park Avenue and Sixth Avenue, where tower lobbies and sidewalks are bustling.

    Large new leases and expansions this year, including deals by Amazon, Aquarian Holdings, Amalgamated Bank, and several law firms, demonstrate an appetite for space despite "hybrid" trends. However, some caveats apply to Placer.ai's report: the removal of obsolete office towers from inventory over the past three years may have affected its analysis.

    Additionally, Placer.ai's lack of transparency about monitored locations is a concern. Nevertheless, its data are more accurate than those from Kastle's Back-to-Work Barometer, which was criticized for being a marketing gimmick and only counting card-swipes in Class-B buildings where Kastle provides services.