"A third of leases at large Manhattan buildings will expire over the next three years, according to CBRE, a commercial real estate services company, and companies have made clear they will need significantly less space."
Yet there's still 14 million square feet of commercial space under construction.
Anyone need a spare skyscraper?
It's a rather difficult problem when you go from 5 rarely used sinks on each floor to needing to supply water and waste drainage for maybe 50 sinks, 50 showers, 50 bathtubs, 50-100 toilets, 50 washing machines, etc, all on that same floor. Not to mention that you now have to figure out waste disposal because you will be creating way more garbage that is much smellier.
That said I am the farthest thing from a real estate expert as you’ll get.