Gen Z is reviving some of NYC's most iconic cocktail bars in their latest wave of pandemic nostalgia

• Gen Z is frequenting the bars of midcentury Manhattan, reported The New York Times.
• Yearning for these iconic city staples is the latest in their pandemic-fueled nostalgia.
• It's also the latest way they're helping bring NYC's economy and energy back to life. 

What do Bemelmans, the Rainbow Room, and the Old Palm Court at the Plaza Hotel have in common?

They're all old-school New York City bars that are getting young again thanks to Gen Z. These budding city dwellers are frequenting the iconic staples of Manhattan yore, reported The New York Time's Alyson Krueger, bringing a youthful energy to high-polished establishments used to serving older, wealthier customers.

That these iconic city staples survived the pandemic has spurred nostalgia among the generation, who see them as a symbol of "a rich history and resilient spirit," Krueger wrote.

As Gen Zer Julia Berry told Krueger, "When you look around, so many places are closing, and all these modern places are popping up. It made me want to experience something special while I still can."

Selecting haunts and night spots based on a yearning for times past is the latest in the "nostalgia economy" that Gen Z has been creating during the pandemic. Research has shown that in moments of economic turmoil, humans are more likely to feel nostalgia.

Gen Z has certainly been evidence of that, reviving fashions from the time before social media took over. They've turned to everything from Y2K trends like baggy jeans and corded headphones to "old-money" prep. They're also throwing it back to '90s entertainment, watching Friends re-runs and crowning Adam Sandler their favorite celebrity.

Because for the youngest generation, what's cool is what's old, even in the city that never sleeps.

A boost to NYC's economy

The influx of young'uns may be a new challenge for bar managers of these classic spots, who now spend their days managing large crowds and making sure Gen Z is following the dress code — which typically doesn't include the generation's beloved ripped jeans or tank tops. It's also another healthy boost to NYC's economy.

Formerly the US epicenter of the pandemic during the first coronavirus wave last spring, NYC watched many of its young professional transplants head back to their parents' homes and its wealthy residents flee upstate or down south for more space. Meanwhile, pandemic restrictions made it difficult for the city's small businesses to stay alive, and many had to temporarily or permanently shutter.

NYC's economy took a hit, fueling a narrative that the city had met its demise. But a year later, the city began to spring back to life, partly due to young New Yorkers. The pandemic was no match for this cohort, who still felt the pull of the city in a vaccinated world.

So many of them returned or moved to the city this year to take advantage of pandemic rents that it caused the rental market to snap back past pre-pandemic norms.

"You had a lot of pent-up demand from people who either temporarily left or were planning to move to the city at some point and put those plans on hold," Jay Parsons, vice president and deputy chief economist at real estate software company RealPage, previously told Insider. He cited college graduates as an example. "It's always been a magnet for young adults."

He added: "It's New York. A lot of people want to be in the city."

For Gen Z, being in the city means experiencing its history. Their nostalgia isn't just reviving NYC's economy, but the spirit of NYC itself.