In the past year the owners of great businesses found how much can be done remotely. They hadn’t known that! They hadn’t had to find out. They don’t have to pay that killer rent for office space anymore. People think it will all snap back when the pandemic is fully over but no, a human habit broke; a new way of operating has begun. People will come back to office life to some degree, maybe a significant one; not everything can be done remotely; people want to gather, make friends, instill a sense of mission; but it will never be what it was.
The closed shops in and around train stations and office buildings, they’re not coming back. The empty towers—people say, “Oh, they can become luxury apartments!’ Really? Why would people clamor for them, so they can have a place in the city and be near work? But near work has changed. So you can be glamorous? Many of the things that made Manhattan glamorous—shows, restaurants, clubs, museums, the opera—are wobbling.
A lot of cities, not only New York, are going to have to reinvent themselves, digging down and finding newer purposes, their deepest value. They’re going to have to take stock in a new way: New York has the greatest hospitals, universities, the media, parks. What else?