Also, most companies will not permit their employees to work from home indefinitely. In finance, the likes of Jamie Dimon and Lawrence Fink have already expressed concern over the work from home environment and the impacts it has on firm culture, innovation, etc.
And while people like myself have retreated from NYC - as described in my recent article: https://medium.com/the-millennial-republican/why-i-left-new-york-city-during-the-pandemic-93fbfef552ea - we're ready and willing to return. Big tech firms like Google and Amazon have already started amassing office space.
All of this goes to say - cities have been detrimentally affected by the pandemic, but it is only temporary. They will rise again.