New York City’s office market is not only rebounding—it’s thriving. Rudin Management Company, a leader in NYC real estate, reports that some of their office buildings are now physically more occupied than before the pandemic, a testament to both the resilience of NYC’s office scene and the firm’s commitment to innovation.

At CREtech New York 2024, Rudin’s leaders—Neil Gupta, Neal Mohammed, Sevinc Yuksel, and Hrisa Gatzoulis—shared their insights on commercial real estate trends. Gupta noted that foot traffic in some Rudin-managed properties is now exceeding 2019 levels, particularly on Park Avenue and the Plaza District, with leasing velocity nearly on par with pre-2020 figures. “Some of our buildings today are experiencing occupancy in excess of pre-pandemic levels,” Gupta highlighted, pointing to a strong NYC office recovery.

Meeting Modern Tenants’ Needs: Amenities and Workspaces

The demand for “newer or recently amended” office buildings is reshaping tenant expectations. Tenants now expect amenities that go beyond the traditional office. “Tenants want amenities,” Gupta explained, from conference centers to tech-based connections among tenants. In response, Rudin is adding features like outdoor spaces and open workstations, fostering an inviting environment that accommodates modern work habits.

This shift extends to workspaces as well. Yuksel shared that Rudin is embracing open workstation designs and adding tech-enhanced meeting spaces, catering to a collaborative, flexible work style that wasn’t prioritized before. “We’re seeing a lot more open workstations and new types of spaces,” Yuksel explained, as the concept of office space evolves.

Hybrid and Remote Work: Here to Stay

Though NYC office occupancy is high, remote and hybrid work aren’t disappearing. Recognizing this, Rudin is adapting its residential properties as well, incorporating co-working features into renovated apartments. Yuksel noted, “We think about co-working spaces when we renovate,” ensuring that residents have places for phone calls, entertaining, and more.

Looking Ahead: A Bullish Outlook

With NYC’s office occupancy rate already above the national average, Rudin’s success is a beacon for the future. The firm’s agile approach to changing demands in both office and residential spaces is a roadmap for resilient, innovative development in today’s market. For NYC developers and investors, the city’s office renaissance is a promising sign—one that highlights the importance of adapting and pushing the boundaries of what a workspace can be.

New York is back and better than ever, and Rudin is leading the charge in shaping the city’s office landscape for the next generation.