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Office Freedom
Office Freedom
  • 3 Minute Read
  • 08th March 2010

City Guide of NYC

Population & Landmark...

nyc-population5-150x150The first European settlement on Manhattan was by the Dutch, and named the city New Amsterdam. In 1664, the British took over and renamed it New York. The settlement rapidly flourished, expanding from south to north along the island. Mass immigration in the 19th and early 20th century saw the emergence of distinct ethnic quarters, with the island of Manhattan rapidly developing into a unique cultural melting pot.

New York City is the largest city in the United States, with its metropolitan area ranking among the largest urban areas in the world. New York City comprises five boroughs: The Bronx, Brooklyn, Manhattan, Queens and Staten Island each coterminous with the five counties of Bronx, Kings, New York, Queens, and Richmond respectively.

With over 8.2 million residents within an area of 304.8 square miles, New York City is the most densely populated major city in the United States.

Economy...

nyc-economy1-150x150Located on one of the world's finest natural harbors, New York is one of the world's major centers of commerce and finance. New York also exerts global influence in media, education, entertainment, arts, fashion and advertising. The city is also a major center for international affairs, hosting the headquarters of the United Nations.

New York City is a global hub of international business and commerce and is one of three ?command centers? for the world economy (along with London and Tokyo). The city is a major center for finance, insurance, real estate and the arts in the US. Many major corporations are headquartered in New York City, including 44 Fortune 500 companies.

Midtown Manhattan is the largest central business in the United States and is home to the highest concentration of the city's skyscrapers. Lower Manhattan is the third largest central business district in the United States, and is home to The New York Stock Exchange, located on Wall Street.

The financial, insurance, and real estate industries form the basis of New York's economy. The city is also the most important center for mass media, journalism and publishing in the United States, and is the preeminent arts center in the country. Medical research, technology, and fashion are also significant sectors.

The New York Stock Exchange is by far the largest stock exchange in the world by market capitalization of listed companies. The NASDAQ has the most companies listed and is third largest in the world by market capitalization of listed companies, although since the NASDAQ is an entirely electronic exchange, its trading does not take place physically in New York City. Many international corporations are headquartered in the city, including more Fortune 500 companies than any other city.

Office Rental Levels...

nyc-office-rental2-150x150Manhattan office market is and has been for several years, purely a demand-driven market as supply just isn't a major factor.

It is particularly notable that the commercial market in New York is softening fast. It argues that space reductions are being made despite the fact that space might be quite tight in the next upturn, indicating that those cutting back expect their employment levels in Manhattan to remain lower for several years to come.

Midtown South managed to be the bright spot in May as activity picked up in all three office classes. The vacancy rate in Manhattan struggled in May with the Class A figure jumping to 6.9% from 6.3% in April.

Transport...

nyc-transport2-150x150The three airports serving New York City (John F Kennedy International, La Guardia and Newark Liberty International Airport) are operated by the Port Authority of New York and New Jersey.

JFK is situated in Queens, 15 miles southeast of central Manhattan, and is New York's busiest airport, with flights to destinations worldwide. La Guardia is located in Queens, 13km (8 miles) east of central Manhattan. The airport handles mostly domestic flights. Newark Liberty is located in New Jersey, 16 miles southwest of central Manhattan.

New York City's rail services are primarily operated by Amtrak. High-speed services on the Eastern seaboard are a viable alternative to air travel on shorter routes, such as to Boston and Washington, DC. The city has two main stations. Grand Central Station, 42nd Street and Park Avenue, is the terminus for Metro-North Railroad, with services to upstate New York, New Jersey and Connecticut. Pennsylvania Station, referred to locally as Penn Station, 34th Street and Sixth Avenue, serves both Amtrak and the Long Island Railroad.

Tourism, attractiveness of the city...

nyc-tourism1-150x150Besides being this world financial center, New York City is home to the world-renowned restaurants, architectural masterpieces and venerable art institutions that make it one of the world?s greatest cultural cities. Tourism is important to New York, with about 40 million foreign and American tourists visiting each year.

New York City is surrounded by some of the best professional sports teams in the world! The New York Giants and the New York Jets represent two of the strongest franchises in the NFL. With both teams having Super Bowl Championships under their belts, you can always expect to see the hardest tackles and most spectacular fingertip receptions on the field.

The ultimate symbol of the American Dream, Lady Liberty, standing majestically over New York Harbor, is probably the most famous landmark in America. Also one of the most stunning skyscrapers, the Empire State building is the city's tallest building.

Useful Links:

New York Guide: www.cityguide.travel-guides.com

Chamber of Commerce: www.chamber.com

The Business Council: www.bcnys.org