How Coworking Companies Delayed a Reckoning in the NYC Office Market

Commercial Observer, Apr. 6, 2023–Celia Young
New York City’s office market was probably in trouble long before COVID-19 hit. A flight to quality and away from a glut of Class B and C properties was already starting to hammer the market before the pandemic arrived in early 2020. But that pivot wasn’t a problem because there were a number of tenants gobbling up space in the older crop of buildings: coworking companies.