News & Press
The Biggest Sign yet that Everyone’s Going Back to the Office… But Don’t Get too Comfortable
Robert Gilman, Partner and Leader of the Real Estate Group at Anchin, shared his perspective on how the commercial real estate market is shifting with firms returning to office spaces and a strong demand in New York City.
“I’ve heard some stories where some of the firms have said, ‘Okay, it’s after Labor Day. Everyone’s back.’ It will be interesting to really see where that foot traffic goes. I think it’s almost ‘follow the leader’.”
Gilman noted that while firms were initially hesitant to be the first to call employees back, momentum has shifted, with large numbers of workers returning to the office.
He also highlighted the strength of New York City’s Class A office market:
“Owners of Class A buildings have been able to attract significantly more tenants over the last year, giving them reliable income streams for the first time since the pandemic.”
While cautious about declaring a full recovery, Gilman expressed renewed optimism:
“I’m not going to say we’re back, or that commercial is back, but I’m starting to have a much better feeling that we’re closer, and especially in New York.”
Law firms and financial services companies, he added, are leading the way in driving demand for prime office space.
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