The Price of Remote Work: NYC's $12B Loss | Company Forensics

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â–º The DARK Side of Digital Nomads - Tech Nomad in Costa Rica
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As Remote Work gains momentum, you will find that there are a lot of changing patterns within the city. Fridays are much emptier, local businesses feel the brunt of fewer people buying food and drinks, and a delicate financial balance could topple over in no time.

Most articles agree. Office spaces in NYC reached a critical point in January 2023, when they were at half occupancy, and it's a number that's still sticking through. The implications are massive.

Check out this video to learn how Remote Work has forever transformed New York City.

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Sources:

https://www.kastle.com/safety-wellness/getting-america-back-to-work/
https://www.bloomberg.com/graphics/2023-manhattan-work-from-home/?cmpid=BBD021323_MKT&utm_medium=email&utm_source=newsletter&utm_term=230213&utm_campaign=markets#xj4y7vzkg
https://deliverypdf.ssrn.com/delivery.php?ID=229087098105069064010031122018102099098073020038068011091083025111002031074073070027060118002034019104038016065012078094076024020039005023014121115065004065070118041030067124004000089123007102095092115003115013104116125024087103080106102088071078107&EXT=pdf&INDEX=TRUE
https://markets.businessinsider.com/news/stocks/commercial-real-estate-debt-regional-banks-risk-stock-market-cre-2023-3
https://wfhresearch.com/wp-content/uploads/2023/02/WFHResearch_updates_February2023.pdf
https://www.nytimes.com/2023/03/02/business/hybrid-work-from-home-office.html
https://starbuckspartnersunited.org/
https://www.kastle.com/safety-wellness/getting-america-back-to-work/
https://www.nytimes.com/2023/04/25/nyregion/office-landlords-nyc.html
https://fortune.com/2023/02/16/return-to-office-nyc-job-vacancies-mayor-eric-adams-changes-strategy-remote-work-hybrid/
https://www.wsj.com/articles/nyc-mayor-eric-adams-a-critic-of-remote-work-cedes-some-ground-fec4f80e
https://gothamist.com/news/mayor-adams-unveils-plans-to-turn-nyc-offices-into-20000-new-apartments
https://gothamist.com/news/penn-station-developer-backs-off-22-billion-project-after-years-working-behind-the-scenes-with-ny-governor
https://itep.org/the-impact-of-work-from-home-on-commercial-property-values-and-the-property-tax-in-u-s-cities/#:~:text=Even%20with%20a%20strong%20economic,paid%20by%20owners%20(directly)%20and
https://nymag.com/intelligencer/2022/12/remote-work-is-poised-to-devastate-americas-cities.html
https://www.bloomberg.com/graphics/2022-remote-work-is-killing-manhattan-commercial-real-estate-market/
https://www.richmondfed.org/publications/research/econ_focus/2023/q2_feature1
https://www.bloomberg.com/news/features/2023-02-21/another-threat-to-work-from-home-tax-breaks
https://www.richmondfed.org/publications/research/econ_focus/2023/q2_feature1
https://www.bloomberg.com/news/articles/2022-06-16/billionaire-ross-says-recession-would-spur-people-back-to-office?sref=Ka1Bz2k4

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