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| Re: Why the vaccine won't do much for transit ridership (1562648) | |||
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Re: Why the vaccine won't do much for transit ridership |
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Posted by Charles G on Thu Dec 3 22:14:51 2020, in response to Re: Why the vaccine won't do much for transit ridership, posted by Peter Rosa on Thu Dec 3 21:06:23 2020. In cases where a large company has a long and expensive Manhattan lease, I think we'll see them move to something resembling a "hub and spokes" office set up.Depending on the job requirements workers may be at home, or in one of many regional satellite offices. The Manhattan space would be converted to a place where, again, depending on the business need clients are hosted or different teams come together from the regional satellite offices once a week. As an example a company that had 1000 Manhattan employees might move to 200 person hubs in Brooklyn, Morristown, White Plains, Mineola and keep 200 people in Manhattan. The space in Manhattan that isn't used for the regular work would be converted to "collaborative space" when the Accounting team is in on Mondays, the Finance team on Tuesdays and the Analytics team on Wednesdays etc. It will be more expensive in the short term, but suburban leases are far cheaper than Manhattan, and as current leases expire in Manhattan with no takers there will be many deals cut for those remaining to extend their term at a better rate. Transit wise, I think this isn't so bad -- as many of the satellites will be along transit hubs (nice timing for the LIRR third track...). Rush hours may not be as Manhattan centric, but there will be a need for frequent service in all directions. Really just speculation on my part, but in conversations I've had most Manhattan firms are really struggling to get any real numbers to commit to coming back to the office. |
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