Real estate is in New York City’s blood. Its more than one million properties, valued at a combined $1.26 trillion, are a testament to the premium that people and businesses all across the globe place on being able to live and work in our city.
With the size and diversity of real estate offerings, New York City is a hub for real estate technologies. Venture capital investments in NYC rose by 133 percent last year, totaling more than $2 billion. From appraisal, design, construction, financing, leasing, marketing, and operations/maintenance, NYC startups are creating the built environment of the future, today.
Leveraging Assets. Delivering Results.
NYCEDC is the city’s largest landlord, maintaining and leasing over 60 million square feet of City property.
By executing and advising on real estate transactions, negotiating the sale or lease of City property, and creating innovative public-private partnerships with developers, NYCEDC uses its real estate assets to deliver results for NYC’s economy and make communities better, including:
- Affordable housing in mixed-use projects;
- Job creation in targeted industries that diversify the city economy;
- Cultural and community space in select neighborhoods that enhance quality of life for residents.
NYCEDC is leveraging City real estate assets to support developers and tenants who will create jobs and help new sectors of the economy thrive and grow. Some of the properties managed by NYCEDC across the five boroughs include:
Brooklyn Army Terminal (BAT): Once a supply base for the US Army during WW1, BAT offers more than three million square feet of industrial space for over 100 NYC-based companies.
Arthur Avenue Market: Bringing bold flavor to the Little Italy section of the Bronx, Arthur Avenue Market is home to over 25 vendors specializing in Italian foods, bakery items, dry goods, fresh produce, and garden needs.
Museum of the Moving Image (MoMI): Located in Astoria, Queens, MoMI is the only cultural institution in the US dedicated to the exploration and interpretation of visual media, featuring a 267-seat main theater and a 4,100-square-foot gallery for changing exhibitions.
Staten Island Makerspace: A 6,000-square-foot, non-profit, community workspace for makers, builders, tinkerers, hardware developers, hobbyists, artists, and entrepreneurs, Staten Island Makerspace offers tools, equipment, resources, and workshops to encourage the development of new small manufacturing businesses.
Pier 17: This four-story pier at the newly revitalized South Street Seaport District features a 1.5-acre rooftop event space and is now home to ESPN’s new live broadcast studios, making it Lower Manhattan’s newest destination for dynamic cultural, culinary, and entertainment experiences.
Driving Smart Growth
Learn how NYCEDC can help your business grow.
- The Emerging Developer Loan Fund provides low-interest loans to developers.
- The Commercial Expansion Program offers tax abatements for industrial spaces.
- The Energy Costs Savings Program reduces energy costs for businesses.
- The New York City Industrial Development Agency lowers property costs for developers.