New York City, NY Commercial Real Estate Market Overview
As one of the prime commercial real estate markets on a global level, New York City boasts an extensive inventory of office, retail, and multifamily space with quality tenants and consistent demand. Comprising the boroughs of Manhattan, Queens, Brooklyn, the Bronx and Staten Island, commercial real estate in the New York City metro has some of the most robust demand and varied supply at a national level.
Traditionally, financial services represented the backbone of the New York City commercial industry. However, the tech boom encouraged tenants such as Facebook, Amazon, Google and Sony to open corporate campuses and distribution centers in the city, adding further value to the market. And, with other strong industries — including international trade, tourism, health care and manufacturing — on top of tech and finance, New York City’s commercial real estate market is sure to maintain its high status.