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DiNapoli: NYC Office Market Will Take Years to Recover From Pandemic

The COVID-19 pandemic wiped out years of growth in New York City’s office sector, erasing nearly $28.6 billion in market value and more than $850 million in property taxes in City Fiscal Year (FY) 2022. Timing its recovery is an open question, however, as employers continue to offer work-from-home options, according to a report released today by State Comptroller Thomas P. DiNapoli.

The Office Sector in New York City

The COVID-19 pandemic wiped out years of growth in New York City’s office sector. Stay-at-home orders forced many office workers to shift to remote work, as businesses reliant on in-person interactions with customers were forced to reduce capacity or remain closed for extended periods. As a result, in City Fiscal Year 2022, the full market value of office buildings fell $28.6 billion, the first decline in more than 20 years, and property taxes declined more than $850 million.

DiNapoli: Former Town of Gardiner Employee Arrested for Pocketing Over $14,000 in Underserved Health Insurance Buyouts

New York State Comptroller Thomas P. DiNapoli, Ulster County District Attorney David Clegg and the New York State Police announced that Kyle Fletcher, a heavy equipment operator employed by the Town of Gardiner, was arrested for defrauding the Town of over $14,000 in health care buyout payments he was not entitled to.

“Mr. Fletcher allegedly deceived the Town to pocket over $14,000 in public funds," DiNapoli said. “Thanks to my office’s partnership with the New York State Police and Ulster County District Attorney Clegg he is being held responsible for his actions.”

Fall Conference - Modal Windows

DiNapoli Releases Dashboard Tracking Federal Covid Funding and State Relief Programs

New York State Comptroller Thomas P. DiNapoli announced today the launch of his new online tool to monitor spending of federal recovery aid and COVID-19 relief programs in the state, including funds for excluded workers, childcare providers, emergency rental and homeowner assistance, and small business recovery.

2021 Financial Condition Report

State Fiscal Year (SFY) 2020-21 will long be remembered for the disruption caused by the COVID-19 pandemic and for the resilience demonstrated by New Yorkers in responding to the multitude of challenges.

COVID-19 Relief Program Tracker

A quote from State Comptroller Thomas P. DiNapoli: "My office is committed to full transparency in government spending. New York is seeing an historic level of federal funding right now and our job is to follow the money and ensure funds are used wisely and administrated efficiently." End of quote.