Category Archives: New York

One Vanderbilt unveils additional building details

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Across the street from JLL’s Midtown Manhattan office, one of New York City’s soon-to-be-tallest buildings is slowly emerging from the ground. One Vanderbilt, the 1,401-foot tower developed by SL Green, has now reached street level, and its official Instagram has been actively sharing both its progress and plans.

In addition to… Read More

Confidence continues in the Manhattan retail market

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REBNY Research reports that the Manhattan retail leasing market is proving to be an outlier against the national retail slowdown. Increased interest from retailers has spread throughout Manhattan, showing that there is confidence in Manhattan retail overall.

As the market’s natural retail correction continues, Manhattan rental rates for 72% of… Read More

Life sciences poised for rapid growth in NYC

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New York City is emerging as a leading destination for biotech startups and the larger life sciences industry. As illustrated in our New York research Snapshot chart this week, New York City now ranks second in life sciences funding from the National Institutes of Health (NIH), receiving $1.63 billion in 2016 (see chart below).

The Bureau of Labor Statistics estimates that more than 1,000 life sciences companies are located in the New York… Read More

1 week countdown: JLL anthem film at the HBO Bryant Park Summer Film Festival

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The HBO Bryant Park Summer Film Festival kicks off in less than one week! From June 19 to August 21, the lawn at Bryant Park turns into Manhattan’s own outdoor movie theater as throngs of people invade its green grass each Monday evening at 5pm, as screenings begin at sunset. Ten classic movies will grace the outdoor big screen in 2017, with titles ranging from King Kong to Dirty Dancing.

This year, before… Read More

Will bank branches on every street corner become a thing of the past?

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A 20% decrease in bank branch locations is expected over the next 10 years

We’ve all heard the catch phrase “bricks versus clicks.”  But have you considered the cost savings tied to bank branch evolution from bricks to clicks?

Simple math tells an astonishing story: the cost per transaction through a bank teller is $8.00; the cost per transaction via a mobile app is $0.08.  Mobile deposit, transferring and banking has changed the… Read More

JLL promotes the workplace of the future

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TAMI tenants may prefer to hold a lunch meeting in Bryant Park with a Halal falafel and a $3 bottled water, but they demand first-class lobby concierge, wellness, gourmet food and more in the office. And it’s paying off. Large user tenants recently signed leases on New York’s West Side for >$100 per square foot that may include outdoor space, bike storage, fitness centers and pet-friendly facilities to help their organizations… Read More

Employment Update: July 2016 from New York Research

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The JLL New York Research Team has released their latest report, the New York Employment Update, which is a monthly review and analysis of the local economy and the overall employment situation and dynamics.

Some highlights of the report include an employment pickup that occurred in June, piloted by an 8,000 job-expansion month-over-month. Total employment remains elevated by 1.9 percent year-over-year.

So what does this mean for commercial real estate in the Big… Read More

5 key trends shape mid-year Skyline update

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Last week, JLL launched a mid-year update to the 2016 Skyline Report, which provides online access to current market intelligence for the most iconic offices across our skyline. JLL’s Skyline provides insights on office supply, demand, rents and leverage for the top-tier office market within CBDs and urban cores. Five key trends shape this update, and below see how they impact our City.

  1. Gone today, here tomorrow

Many markets are expected to enter… Read More

New York is most liquid hotel market in the world

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According to a new special research report from the JLL New York Research and Hotels teams, New York is the most liquid hotel market in the world.  2015 marked the city’s highest volume of transactions and highest-priced transaction on a per-room basis. Hotel performance will be under pressure in 2016 and 2017, given the city’s elevated supply pipeline, economic volatility in major source markets and the impact of home-sharing sites, but… Read More

Technology Firms Wired Over JLL TechSpec

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JLL’s new unique platform, TechSpec, gives technology companies an advantage when it comes to finding and securing the perfect space for growing their business.

Finding an office space that fits a companys’ needs can be a struggle, but it doesn’t need to be thanks to JLL’s new website TechSpec. TechSpec is a revolutionary site that technology companies can visit for help finding the best office space to grow their business. TechSpec offers… Read More