City Rundown — New York City

As one of the country’s top-performing economic regions, there are many reasons to live and do business in New York City, especially considering:

  • Silicon Alley, centered in Manhattan, generated over $7.3 billion in venture capital investments.
  • In 2015, nearly 60 million visitors/tourists generated 61.3 billion in economic impact.  
  • New York City is the second largest city for filmmaking and tv show production in the US.
  • New York City is the largest media market in North America, with conglomerates like Time Warner, The New York Times Company and NBC Universal.
  • Seven of the world’s top eight advertising agencies are headquartered in New York.
  • Over 600,000 students are enrolled in New York City’s 120+ higher education institutions, which is the highest number of students in any US city.

New York City — By the Numbers

28,000 acres Parkland

New York City has over 28,000 acres of municipal parkland and 14 miles of beaches. Although people are more familiar with Central Park, the largest municipal park in the city is Pelham Bay Park in the Bronx, with 2,765 acres. Central Park, an 883-acre park in middle-upper Manhattan, is the most visited urban park in the United States, with 40 million visitors in 2013.

2 largest stock exchanges

Due to Wall Street and the Financial District of Lower Manhattan, the city has been called the economic leader of the world. The city is also home to the world’s two largest stock exchanges by total market capitalization — the New York Stock Exchange and NASDAQ.

8.5 million people

New York City is the most densely populated city in the US (8.5 million, and 24 million in the metro area).

800 Languages

There are as many as 800 languages spoken in the city.

1.39 trillion GMP

The gross metropolitan product of 2014 was 1.39 trillion.

60 million visitors

The city received a record of nearly 60 million tourists in 2015.

120 colleges 

The city boasts over 120 colleges and universities, including Columbia University, New York University and Rockefeller University, which have been ranked among the top 35 in the world.

Nearly 6,000 High-Rises

As of 2011, New York City had 5,937 high-rise buildings, of which 550 completed structures were at least 330 feet high, with over 50 completed skyscrapers taller than 656 feet.

The Domino Sugar Refinery | Photo Credit:  The New York Post

The Domino Sugar Refinery | Photo Credit: The New York Post

Developments in 2017 — 

New York City is one of the most expensive real estate markets in the world, and it's not going to decrease or slow down anytime soon. Here are some of the most anticipated projects of 2017:

  • 35 Hudson Yards, the David Childs and SOM-designed condo building.
  • The 14-story 242 Broome Street, as will Handel and SHoP’s 24-story rental building at 115 Delancey Street (with a movie theater in the base.)
  • Six buildings at Brooklyn’s 22-acre megaproject Pacific Park are in various stages of construction, three of which will open in 2017.
  • The Domino Sugar Refinery in Williamsburg, with 396 apartments.
  • Vornado Realty Trust’s crown jewel, 220 Central Park South, which was designed by Robert A.M. Stern, is 66 stories with 100 off-market condos. 
  • The first phase of the Second Avenue Subway will extend 8.5 miles along Manhattan’s East Side, from Hanover Street to 125th.
  • The city’s new fleet of 19 ferry vessels.

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Martin L. Hudler

Hudler through various entities, sources, acquires, develops and finances real estate opportunities including commercial, office, industrial, retail, multifamily and mixed-use assets. Many of the properties which are acquired, need to be repositioned in order to maximize the true market value of the asset. Properties are closely managed and strategically sold at a time to garner above market returns to our clients and shareholders, or in the alternative, if properties are producing above average returns, they are held for a longer period of time.