| | WHY NYC? |  |
With more than 550 million square feet of commercial office space within its five boroughs, NYC makes up the largest real estate market in the United States (Washington DC has 385K sf, LA has 381K sf, Chicago has 369K sf and Boston has 303K sf). Throughout the City the office market is thriving as companies add headcount and growing numbers of companies choose to establish operations here.
Vacancy Rates
Vacancy rates are at historic lows and large blocks of space are in short supply resulting in a competitive real estate environment. According to Cushman & Wakefield, average asking rents in Manhattan for 2Q07 are $59.17 with a vacancy rate of 5.3%.
Attractive Rezoning
The City has rezoned several areas to encourage new central business district opportunities. These include Long Island City, Downtown Brooklyn and others. View our NYCEDC Brochures section to learn more about emerging business districts throughout NYC.
Developers from all over the world are taking advantage of these newly created opportunities and have numerous and exciting projects planned and underway. Many are seeking anchor tenants. For more information, view our Current Projects. Real Estate Services
| NYCEDC can also assist you with the following real estate services:
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| OVERVIEW | |
New York City’s real estate community serves as a valuable support tool for various industries throughout the area. NYCEDC works closely with the real estate community and serves as a conduit for businesses interested in locating or expanding in the City.
NYCEDC provides information on the various central business districts, neighborhood profiles and current development projects. In addition, NYCEDC can aid businesses with financial incentives, site selection and key resources for those starting and expanding their businesses in the City. | |
| WHO’S HERE | |
| The following is a list of the major real estate advisors located in New York City. | |
| COMMERCIAL OFFICE BROKERAGE | | |
CB Richard Ellis
is a global leader in real estate services with 220 principal offices in 48 countries.
Colliers ABR
is a full service commercial real estate services firm offering tenant services, landlord services, agency brokerage, consulting, property management, project monitoring and market research.
CRESA Partners
is one of the largest international real estate firms. CRESA exclusively represents corporate space users.
Cushman & Wakefield, Inc.
is a global real estate services whose professionals are active in every major market worldwide. Cushman & Wakefield assists clients in every stage of the real estate process.
Equis
is the largest full-service corporate real estate organization dedicated solely to the interests of business space users.
Grubb & Ellis Company
is one of the world's leading providers of integrated real estate services with more than 9,000 employees in over 200 offices in more than 30 countries.
GVA Williams
provides a full spectrum of real estate services customized to each client's needs.
Jones Lang LaSalle
is a leading global provider of integrated real estate and money management services, serving clients locally, regionally and globally from offices in more than 100 markets on five continents.
Newmark Knight Frank
is one of the largest independent real estate firms in the United States. It provides comprehensive real estate services to many of the nation's most prominent corporations, property owners, investors and developers.
Staubach
is a global, full-service real estate advisory firm, serving office, industrial and retail space users. Areas of expertise include site selection, acquisition and disposition, financing, design and construction consulting, and other outsourced services.
Studley
is the leading national commercial real estate firm focused primarily on tenant representation and advisory services
Trammell Crow
is one of the largest diversified commercial real estate services companies in the United States, providing building management, brokerage, development, investment services and project management services to both investors in and users of commercial real estate.
Williamson, Pickett, Gross
offers highly personalized, broad based real estate services. The firm represents clients locally, regionally, nationally and internationally.
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| RETAIL BROKERAGE | | |
Newmark New Spectrum Retail is the largest retail brokerage firm in the New York metropolitan area and one of the largest in the nation. Clients range from national chains and international luxury goods retailers to financial institutions and local entrepreneurs.
Robert K. Futterman & Associates is a leading retail real estate firm specializing in retail leasing, investment sales and advisory services for retailers and owners and developers. | |
| RESIDENTIAL BROKERAGE SALES/RENTALS | | |
| SUCCESS STORIES | |
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View our Success Stories to read about companies that have successfully located or expanded their businesses in New York City.
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| RECENT PRESS | |
| NYC Economic Development Corporation Selects Development Team for Expanded Trade Show Facility on Manhattan's West Side | |
| NYC Economic Development Corporation Announces Developer and Development Plan for Kingsbridge Armory in the Bronx | |
| ADDITIONAL RESOURCES | |
Real Estate Board of New York (REBNY)
Through REBNY, Manhattan's real estate professionals work with the City's political establishment to promote public policies that: expand New York's economy, encourage the development and renovation of commercial and residential real property, enhance the city's appeal to investors as a business location and as a place to live, and facilitate property management.
CoreNet Global
CoreNet is a worldwide association for corporate real estate and related professionals. CoreNet Global is the only group that convenes the entire industry. Programs and services are designed to meet the business needs of members' companies and the career needs of individual members. | |
| NYC BUSINESS IMPROVEMENT DISTRICTS (BIDS) | | |
| SITE SELECTION TOOLS | | |
| INCENTIVES | | |
| NYCEDC offers information about a variety of New York City business incentives designed to help businesses thrive. Visit our Financing & Incentives section. | |
| CONTACT INFORMATION | |
For more information on how NYCEDC can help your business in NYC, please contact:
Christopher Shepard
Senior Project Manager, Business Development
CShepard@nycedc.com
(212) 312-4221
Loren Haley
Senior Project Manager, Business Development
LHaley@nycedc.com
(212) 312-3764 | |
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| | | | RELATED LINKS | Incentive Finder
Use this simple tool to discover which NYC incentives may be applicable to your business. Real Estate FAQs
Explore responses to some of the frequently asked real estate questions we get at NYCEDC. New York City Map
Explore our interactive map of the 5 boroughs to find project locations, incentive areas and zoning. |
| | | PUBLICATIONS | NYCVISION
View this newsletter outlining NYC economic development initiatives. Economic Snapshot
Read our newsletter highlighting NYC employment, consumer spending, real estate and more. |
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