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

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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/
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https://markets.businessinsider.com/news/stocks/commercial-real-estate-debt-regional-banks-risk-stock-market-cre-2023-3
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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
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https://www.bloomberg.com/news/articles/2022-06-16/billionaire-ross-says-recession-would-spur-people-back-to-office?sref=Ka1Bz2k4