T
he media's portrayal of the return-to-office phenomenon is misleading, as evident from the current leasing frenzy and crowded streets. For instance, Crain's recently questioned whether a recent shooting at 345 Park Ave would impact the city's office occupancy rates, citing a supposed stagnant rate of 57% of Manhattan office workers returning to their offices on an average workday.

    However, this figure is based on a flawed interpretation of data from the Partnership for New York City. The actual finding was that 57% of workers in offices at the time equates to 76% of respondents' pre-pandemic attendance. In other words, Manhattan offices were never fully occupied before the pandemic, but rather around 75%. This means the alleged gap between full occupancy and current levels is much smaller than reported.

    With many CEOs calling their staff back to the office, this gap will likely continue to shrink further. The leasing frenzy and crowded streets suggest a surge in return-to-office activity that contradicts the media's narrative of stagnant rates.