New York City

The New York City metropolitan area is recognized as one of the world’s leading economic centers and cultural destinations. With a diverse city population of 8.3 million and a greater metropolitan area consisting of 22.1 million (2009 estimate), it is the most populous market in the United States and one of the largest worldwide.  A global business hub, New York is home to 43 Fortune 500 Companies, earning Fortune magazine’s designation of “#1 Headquarters City.”

With over 445 million square feet of space, Manhattan is the nation’s largest office market. In fact, the city’s office inventory is greater than the next five largest U.S. markets combined and features some of the world’s most competitive rents and iconic properties. With its unmatched depth of building types, diverse tenant base and efficient transportation nexus (air, rail, sea and highway), New York City is a premier pathway market.

Maintaining its skilled workforce and powerful presence in the financial, healthcare, media, entertainment, education and legal industries, New York City has established itself at the forefront of the global real estate marketplace.

Major Economic Drivers:

• Education – There are approximately 500,000 students in New York City attending 110 universities and colleges making it the U.S. city with the largest student population (NYC.gov - OneCampusNYC)
• Finance –Home to the two largest stock exchanges in the world (NYSE and NASDAQ); in NYC alone, there are 428,000 employed in financial activities with 161,000 of those specifically working in the securities industry (NYC Office of the Comptroller)
• Healthcare – NYC is home to  9 academic medical centers, the largest concentration in the nation, along with another 58 hospitals and 26 additional research centers (NYC EDC)
• Legal – There are approximately 80,000 employees within the legal services industry in NYC (NY State Department of Labor)
• Media – Largest media market in the country; home to some of the largest media conglomerates in the world (Time Warner, News Corporation, Hearst, Viacom); two of the three largest daily newspapers headquartered in New York (The New York Times, The Wall Street Journal); all four major networks in the U.S. are headquartered in New York along with a number of cable channels; home to both the book publishing and magazine industry; also a global center of the burgeoning new media industry (NYC.gov)
• Tourism - Named #1 U.S. City by Travel + Leisure in 2009;  #1 Tourism Destination in the U.S., with an estimated 47 million visitors spending $30 billion in 2008; Approximately 76,000 hotel rooms and 19,000 eating establishments (NYC & Company)