Manhattan office tower values plummet below COVID-era slump amid fears AI will wreak a white-collar bloodbath
Manhattan office tower values plummet below COVID-era slump amid fears AI will wreak a white-collar bloodbath is drawing significant interest across the industry.
Manhattan’s office towers are now valued at prices less than the peak of the COVID-19 pandemic, as a new threat emerges: Artificial Intelligence. A new report from brokerage firm Evercore ISI found that publicly traded landlords with large Manhattan office portfolios are now valued below where they stood in June 2020, when the city was grappling with lockdowns and deserted business districts.
Experts suggest this could influence future trends and innovation in the sector.
More updates are expected as the story develops.
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