Sharp contrast between FIRE and TAMI in Manhattan markets…for now

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New York Chart of the Week: July 28, 2014

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* Includes 5,000+ square foot tenants

  • In Midtown South, TAMI (Tech, Advertising, Media & Information) tenants comprise 40.9 percent of space, while FIRE (Financial Services, Insurance & Real Estate) tenants occupy only 13.8 percent.
  • The opposite is true Downtown, where FIRE tenants make up 39.2 percent versus TAMI’s 12.2 percent.
  • This divide may close as TAMI tenants continue to relocate Downtown to capitalize on its high-image office space, lower occupancy costs, and convenience. Moreover, Manhattan high-tech employment has outpaced the rest of the office-using market, growing 33.3 percent since 2009.

Source: JLL Research

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