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Follow the hospitals, and you will find a vibrant clustering of life sciences startups in Manhattan/1160/new-york-city-9-17-18-life-sciences-startups<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/Lifesciences-lab-worker-microscope.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1160/new-york-city-9-17-18-life-sciences-startupsFollow the hospitals, and you will find a vibrant clustering of life sciences startups in ManhattanManhattan has added over 40 life science companies, over the past two decades.
New York City’s population slated to age in the coming decades/1146/new-york-9-10-18-population-slated-to-age<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/people-seniors-housing.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1146/new-york-9-10-18-population-slated-to-ageNew York City’s population slated to age in the coming decadesBy 2040, 15.6% of New York City’s population is projected to be 65 years of age or older
Density and new transit hub in Downtown Manhattan office market yield superior commutability/1111/manhattan-8-20-18-superior-commutability<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/Transportation-cars-road-city.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1111/manhattan-8-20-18-superior-commutabilityDensity and new transit hub in Downtown Manhattan office market yield superior commutabilityLower Manhattan is served by the brand new, Oculus/Fulton Center transit hub, a subterranean network of rail stops accessing the New Jersey PATH system as well as eleven MTA subway lines.
High-tech tenants have catalyzed demand for Midtown South’s new product/1093/new-york-city-8-13-18-high-tech-tenants-catalyzed-midown-south-demand<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/people-man-smartphone-escalator.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1093/new-york-city-8-13-18-high-tech-tenants-catalyzed-midown-south-demandHigh-tech tenants have catalyzed demand for Midtown South’s new productHigh-tech users have accounted for 53 percent of leasing in Midtown South new developments as tech firms have put talent attraction and retention at the forefront of real estate strategies.
Hudson Yards/ Manhattan West developments only a small fraction of the Manhattan Inventory/1063/new-york-hudson-yards-7-31-18<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/construction-birdseyeview.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1063/new-york-hudson-yards-7-31-18Hudson Yards/ Manhattan West developments only a small fraction of the Manhattan InventoryOnce completed, Hudson Yards/ Manhattan West will have 21.1 million square feet of office inventory.
Office-using employment drives Manhattan’s labor market, accounting for a growing share of jobs/1046/new-york-7-23-18-office-using-employment<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/people-business-meeting.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1046/new-york-7-23-18-office-using-employmentOffice-using employment drives Manhattan’s labor market, accounting for a growing share of jobsMuch has been made about a national unemployment rate of 4.0 percent, however less than one quarter of jobs across the USA are considered office-using – implying this historically tight labor market is impacting office fundamentals in some metros more than others.