In Q2 of 2023, Manhattan office buildings saw a significant increase in visitation rates across all building classes. This marks the highest levels since 2020, according to REBNY’s report on Manhattan Office Building Visitation.
During this quarter, building visitation rates reached 64% of the levels seen in Q2 of 2019. This demonstrates a notable increase of 6 percentage points from Q2 of 2022 and an additional gain of 5 percentage points from Q1of
2023. In nearly two-thirds of the analyzed properties, visitation rates exceeded the pre-pandemic baseline by surpassing the mark at over half (50%).
Specific neighborhoods within Manhattan experienced considerable improvements in their visitation rates as well. Midtown South saw an impressive increase by nine percentage points while Midtown rose eight and Downtown increased one point compared to their respective numbers from last year’s second quarter.
This surge in building visits is indicative that there has been a positive shift towards recovery for commercial real estate markets within New York City.
