Even if remote work is here to stay, Manhattan office space will always be among the most valuable in the world here's why

Get the Full StoryEric Kober is an adjunct fellow at the Manhattan Institute, and the former director of housing, economic, and infrastructure planning at the New York City Department of City Planning.

Amid the COVID-19 outbreak in New York, nonessential companies have locked up their Manhattan offices to work from home, and some New Yorkers have left the city entirely.

Despite this momentary exodus, Kober explains that Manhattan office space will not lose its value.

He explains that Manhattan's labor pool and unparalleled transit and commuter networks will always be a draw for flagship businesses and company headquarters.

Visit Business Insider's homepage for more stories.

As New York City's economy reels from the effects of COVID-19, many wonder if the city may never recover. Hundreds of millions of square feet of Manhattan office space sit vacant, awaiting the return of workers who might decide they prefer working at home, at least part of the time. Businesses may conclude that remote work is more feasible than they once thought, and cut back on the amount of office space they rent.

Eric KoberSee the rest of the story at Business InsiderNOW WATCH: Leslie Odom, Jr.'s 500,000 gamble that led to a starring role in 'Hamilton'See Also:How to decide when it's safe to go to the dentist or doctor again if your state is reopening7 ways retailers should work to create a more inclusive shopping experience in their stores, according to the head of diversity and inclusion at UnileverSCOTT GALLOWAY: Walmart's new membership program is 400 billion off from being a real competitor to Amazon Prime. But there's a simple approach that could make them a formidable rival.SEE ALSO: My ex-husband and I have decided to quarantine together with our 5-year-old daughter. It's been tough, but it's working and we have no plans to change our situation as things start to reopen

Share: