You find yourself standing on Park Avenue, gazing up at a gleaming 60-story skyscraper. This is the brand-new JPMorgan Chase tower – a $3 billion investment – rising high above the Manhattan streets. It’s a statement. After years of uncertainty, this towering headquarters signals that New York City’s office scene is regaining its shine.
A few years ago, the narrative was all about empty offices and remote work. Now, a major bank is confident enough to plant a massive flag in the ground saying, “The office is back.” And for you, that confidence is contagious.
This new tower reflects a broader trend. The New York City office market is recovering faster than many expected. The comeback is real, and it carries lessons.
In New York City, office activity has surged back to close to pre-pandemic levels in recent months. In July 2025, NYC’s office attendance was actually 1.3% higher than it was in July 2019. Think about that – after everything that’s happened, New York’s offices are not just on the road to recovery; by some measures, they’ve fully returned to their former vibrancy. It means that workers are coming back through the turnstiles and that the city’s frenetic office life is beating again. For you, it suggests that demand in prime locations could be creeping back up. Foot traffic is a proxy for activity, and activity eventually translates into leases and revenue.
What makes New York special in this rebound? One factor is the city’s unique environment. Data shows that NYC and a few peers (like Miami) have led the nation in return-to-office metrics, while other cities still lag far behind. By May 2025, Manhattan’s offices were only about 18% shy of 2019 foot traffic levels, whereas places like San Francisco and Chicago were still 45-50% below their old norms. That gap shows that New York’s office market has a momentum that many other cities lack.
Experts cite reasons ranging from the city’s dense transit-connected business districts to the simple fact that many New Yorkers have small apartments and prefer working in a well-equipped office over a cramped living room corner. In other words, the Big Apple’s culture and infrastructure encourage people to come in. If you have properties in such “live-work-play” hubs, you’re in a good position to ride this wave of renewed office attendance. And even if you operate in another region, watching NYC’s trajectory can offer a blueprint for what might jumpstart a recovery, whether that’s improving transit access, creating more on-site conveniences, or building a sense of community that draws people out of their homes.
When JPMorgan Chase committed $3 billion to its new headquarters, the message was unmistakable: offices remain central to business success. The tower’s opening was timed alongside a return-to-office mandate, highlighting the company’s belief that in-person work strengthens culture, collaboration, and long-term performance.
This project is another clear signal that high-quality office space continues to command attention and investment. Kathryn Wylde, a respected New York business leader, called the tower “a very big deal” and “a statement about the future of New York City.” It demonstrates that tenants at the top of the market are ready to secure premium space that aligns with their goals. The takeaway is straightforward—distinctive buildings with the right location, design, and employee-focused experience are the ones drawing commitments. The challenge now is creating spaces that companies view as cornerstones of their workplace strategy.
One of the biggest trends in the office market’s comeback is the so-called “flight to quality.” Simply put, tenants are being picky. After the past few years, companies know they have to persuade their employees to come into the office by offering an experience that beats working from home. They are gravitating toward tenant experience and newly renovated spaces that offer state-of-the-art amenities, sustainability, and convenience. Recent market analysis confirms that newer, high-end offices are seeing strong demand and commanding premium rents, even as older, less updated buildings struggle. This is a critical insight: the best tenant experience is winning. If your property is modern, energy-efficient, well-located, and loaded with perks, it’s likely outperforming the market. Tenants are willing to pay more for spaces that help them lure talent back on-site.
JPMorgan’s new tower exemplifies what “quality” means in today’s terms. It’s not just about shiny facades , it’s about the whole package. This skyscraper will be the tallest structure in New York fully powered by renewable hydroelectric energy, showing the emphasis on sustainability. Inside, it offers an array of amenities: a high-tech fitness center with top-of-the-line equipment and group classes, a 19-restaurant gourmet food hall curated by famous restauranteurs, an actual Irish pub for after-hours networking, outdoor terraces, and ultra-modern conference spaces. The message is clear – tomorrow’s offices need to be experiences, not just places to sit and work. Tenants now seek out buildings that can give their employees something special: convenience (like on-site dining), wellness (gyms and outdoor space), and an impressive environment that reflects well on their brand. And a simple tenant experience platform to make accessing your amenities as straightforward as possible.
If you have a Class A building, you may already be adding features like these. If you own a Class B or C building, you might be strategizing how to upgrade selectively so you don’t get left behind. The good news is that even incremental improvements can make a difference. Think about adding a trendy café in the lobby, offering flexible meeting spaces, or improving air quality and natural lighting. These upgrades signal to potential tenants that you care about the occupant experience – and that can set your property apart.
You might be thinking, “This sounds great for new skyscrapers and Class A properties, but what about my building?” No matter the class or age of your property, there are steps you can take to ride the wave of the office growth:
You’ve weathered one of the hardest storms the office market has faced. Today, the signs point to genuine reasons for optimism. New York City’s resurgence – highlighted by JPMorgan’s $3 billion tower – is proof that offices remain vital when they evolve to meet modern expectations. Employees seek connection, companies depend on collaboration and culture, and physical workplaces bring it all together when those spaces are thoughtfully managed. The opportunity now is to ensure your property is part of this next chapter. By elevating quality, focusing on experience, and building in flexibility, you signal to tenants that their future is secure in your building.
Change can feel daunting, but this is also a chance to innovate. With the right approach, every building, whether a Midtown high-rise or a suburban office park, can deliver what tenants value most. It could be as simple as a welcoming coffee bar, a well-ventilated meeting room that teams gravitate toward, or a tenant app that makes everyday interactions seamless. That’s where Cove comes in. Cove helps you unify building operations and tenant experience into one simple platform, making it easy for employees to book amenities, access the building, and engage with their workplace in a way that feels modern and effortless. These small touches transform square footage into a place people enjoy returning to each day.
The most thoughtful operators are leading the way. A year from now, it could be your property that tenants are waiting to get into, cited as a model for doing things right. The skyscrapers may grab the headlines, but every building that adapts and thrives strengthens the industry. Take inspiration from New York’s momentum, and use tools like Cove to make your buildings more competitive, more connected, and more attractive to tenants. The office is alive and evolving, and with the right strategy, your properties can shine just as brightly as that new Midtown tower.