Commercial real estate brokerage Cushman & Wakefield sent the following data points to its clients about the New York City office real estate market:

"Despite most companies being able to legally return to the office, across Manhattan, occupancy of office space is less than 15%."

"Overall leasing activity is down almost 50% since last year, as many wait for more information on the future of the workplace and impact of COVID-19 (however, it should be noted that there is real opportunity due to decreased demand and softening of pricing)."

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