Greater Work-Life Balance and Short Commute a Post-Covid Priority Among New York Workers

Since the pandemic, a shift in priorities for a greater work-life balance as made easy access to transit “a stubborn demand of many New York workers,” making it the focus among some companies when considering an office relocation. Cited in example was the recent decision by Bain & Company to relocate to 22 Vanderbilt Avenue, which offers direct access to Grand Central Terminal. Although the consulting firm’s current location at 1114 Avenue of the Americas was easily accessible to multiple subway lines, the new location will add access to Grand Central’s rail lines — MetroNorth as well as the Long Island Rail Road (LIRR) since the 2023 opening of the Grand Central Madison concourse. Adding tenant amenities to attract companies has been the focus of many office building landlords; and although it makes sense to a certain extent, the “quality of the building itself can only matter so much if it is not easy to get to.” According to recently released statistics, a comparison of the number of tours companies took of properties during the first half of 2023 and 2022 revealed that office buildings within a five-minute walk to the city’s major transit hubs — Grand Central Terminal, Penn Station, Union Square, and Fulton Transit Center, saw 51% more tours than buildings that were 10 minutes or more from them.”