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New York Real Estate Industry Grapples With Potential for Low Office Demand

With Hybrid Work Model in Vogue, Sector Has Lagged Industrial, Residential When It Comes to Investing
Real estate investors and developers gathered Wednesday to discuss New York’s outlook at an event hosted by Urban Land Institute. Panelists included, from left to right, Ricardo Ruiz, Meg Brod, Eric Clement and Bill Staffieri. (Andria Cheng/CoStar)
Real estate investors and developers gathered Wednesday to discuss New York’s outlook at an event hosted by Urban Land Institute. Panelists included, from left to right, Ricardo Ruiz, Meg Brod, Eric Clement and Bill Staffieri. (Andria Cheng/CoStar)
CoStar News
March 17, 2022 | 10:28 P.M.

While more workers have returned to offices in recent weeks, the real estate industry expects hybrid work schedules and the slow return-to-office pace may reduce demand for space, especially in cities such as New York.

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