New York at a Glance
New York office space is one of the most unique markets in the country for commercial real estate. Inundated with crowds of New Yorkers and tourists weaving through the dense scene of skyscrapers and a bustling cityscape, this city thrives on diversity and the coexistence of its specialized communities and neighborhoods. New York is the nation’s largest market for office space, and including retail and industrial properties, the city has a total of approximately 450 million square feet of space. Its office space inventory alone is greater than the next five largest U.S. markets combined. New York is also one of the top cities attracting foreign investment dollars for new commercial real estate development, as evidenced by the estimated $5.5 billion worth of office high rise purchases in 2013 along with all of the new construction of office and residential high rises in various parts of the city. China, Canada, and the United Arab Emirates have led the way for foreign investment in New York commercial real estate investments over the past 12-24 months.
Over 600 major companies are currently headquartered in New York city, and the list includes many multinational corporations, encompassing more Fortune 500 companies than anywhere else in the United States. It is well known as a Global hub for nearly every professional industry ranging from finance and business, to fashion and the arts. New York City has established itself as a stronghold for many creative industries as well, such as advertising, design, and architecture. It also continues to develop in more technical fields such as biotechnology, software development, and even game design.
Using TheSquareFoot, prospective tenants can easily search for available office space in New York as well as in Queens, the Bronx, Brooklyn, and Staten Island. As a bonus, TheSquareFoot itself is based in New York!
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