A group of New York City landlords and property managers are urging the city's biggest financial firms to bring their employees back to their offices, Bloomberg reports.
They're calling some of the city's biggest employers, including Goldman Sachs (GS -0.6%), Blackstone (BX -1.7%) and BlackRock (BLK -0.9%), and making the case that it's safe and a raft of smaller establishments, such as delis and shops, can't survive much longer.
Among the landlords appealing to the big employers are New York's biggest office landlord SL Green (SLG +1.3%), RXR Realty, Related Cos., and Rudin Management.
The longer employees work remotely, the more local businesses will fail and the more the landlords fear that office staff won't return. As such, landlords face the potential for a slump in demand and prices for offices, retail space, and residential units.
Their argument, though, doesn't seem to address two big issues employees may have in returning to the city — braving mass transit and the inability to find child care.
