Investing in New York City

The NYC Difference

There are cities—and then there’s New York City. What makes us different? We’re the largest city in the country, with the nation’s biggest consumer base. With a gross metropolitan product (GMP) of $2 trillion, our economy produces more value than the entire gross state product of Florida. If NYC was a country, its economy would beat out the entire economies of countries like South Korea and Australia.

And New York City is ripe for investment. Equipped with a robust commercial office market and spurred by investment in emerging industries, NYC is brimming with opportunities for institutions to make impactful investments on behalf of their clients.

New York City has the most valuable office property market in the country. Led by the city’s central business districts, there are over 664 million square feet of office inventory across the five boroughs – that’s more than Chicago and Washington, D.C. combined. And it’s not just about the scale; office buildings in NYC feature consistently attractive cap rates, which have held steady between four to six percent over the past decade. Above all else, the office market in NYC has proven to be a resilient force over the years, consistently bouncing back with increased rents and improved vacancy rates following market shocks.

NYC is committed to the continued vibrancy of our commercial real estate market. Through tax incentive programs such as ICAP and M-CORE and City legislation such as Local Law 97, the City is actively maintaining the health of the commercial real estate market while simultaneously leading NYC into a greener, more sustainable future.