888 Seventh Avenue New York, Midtown West

Total Page：16

File Type：pdf, Size：1020Kb

888 SEVENTH AVENUE NEW YORK, MIDTOWN WEST © 2021 VORNADO REALTY TRUST 888 SEVENTH AVENUE, NEW YORK, NY 10019 PHONE: 212.894.7000 WWW.VNO.COM 888 SEVENTH AVENUE NEW YORK, MIDTOWN WEST OVERVIEW & FEATURES LOCATION On 57th Street between 7th Avenue and Broadway. YEAR BUILT 1969 ARCHITECT Emery Roth & Sons RENOVATION Moed de Armas renovated the Lobby, Elevators & Plaza in 2006. Full modernization of the building HVAC system. POINTS OF ENTRY Entrance on 56th Street Entrance on 57th Street BUILDING SIZE Approximately 880,000 SF FLOORS 47 FLOOR SIZES Floors 02-14: 24,000 SF Floors 15-46: 20,000 SF FLOOR LOADS 50 lbs. per SF CEILING HEIGHTS 11'-6" to 13'-6" ELECTRICITY 8 watts per USF EMERGENCY LIGHTING AND POWER Diesel generator 560 KW Natural Gas 100KW generator servicing base building Natural Gas generator 250 KW servicing life safety and roof ELEVATORS 21 Passenger Cars 1 Freight Car HVAC Monday through Friday 8:00AM to 8:00PM SECURITY 24 hours, 7 days a week, turnstile card key access SUSTAINABILITY LEED Gold Certified www.vno.com 888 SEVENTH AVENUE NEW YORK, MIDTOWN WEST TELECOM Verizon, Verizon Business, Verizon Wireless, Cogent Communications, AT&T, Time Warner Cable, TW Telecom, Zayo (AboveNet), Direct TV, Level 3 Communications, Light Tower, Pilot Fiber ADDITIONAL SERVICES On-site parking garage www.vno.com 888 SEVENTH AVENUE NEW YORK, MIDTOWN WEST TENANT PROFILE Major Tenants Include: Office • Lone Star Funds • Principal Global Investors • The Corcoran Group • Top-New York • Vornado Realty Trust Retail • Brooklyn Diner • Red Eye Grill www.vno.com 888 SEVENTH AVENUE NEW YORK, MIDTOWN WEST AREA INFO & MAP www.vno.com.

Copy Link

Recommended publications

Docket Sheet No. 1:06-Md-01738
Eastern District of New York - LIVE Database V6.1 Page 1 of 143 APPEAL U.S. District Court Eastern District of New York (Brooklyn) CIVIL DOCKET FOR CASE #: 1:06-md-01738-BMC-JO In Re Vitamin C Antitrust Litigation Date Filed: 02/22/2006 Assigned to: Judge Brian M. Cogan Jury Demand: Plaintiff Referred to: Magistrate Judge James Orenstein Nature of Suit: 410 Anti-Trust Cause: 15:1 Antitrust Litigation Jurisdiction: Federal Question In Re Vitamin C Antitrust Litigation represented by Charles Edgar Tompkins Hausfeld LLP 1146 19th Street NW 5th Floor Washington, DC 20036 202-579-1089 Email: [email protected] LEAD ATTORNEY James Quadra Moscone, Emblidge & Quadra, LLP 220 Montgomery Street Suite 2100 SAN FRANCISCO, CA 94104 415-362-3599 Fax: 415-362-2006 LEAD ATTORNEY ATTORNEY TO BE NOTICED Alanna Rutherford Boies, Schiller & Flexner LLP 575 Lexington Avenue 7th Floor New York, NY 10022 (212) 446-2300 Fax: (212) 446-2350 Email: [email protected] ATTORNEY TO BE NOTICED Besrat J. Gebrewold Cohen Milstein Sellers Toll PLLC 1100 New York Avenue, Nw Suite 500 - West Tower Washington, DC 20005 202-408-4600 https://ecf.nyed.uscourts.gov/cgi-bin/DktRpt.pl?932052028220104-L_1_1-1 7/17/2014 Eastern District of New York - LIVE Database V6.1 Page 2 of 143 Fax: 202-408-4699 TERMINATED: 04/05/2012 PRO HAC VICE ATTORNEY TO BE NOTICED Carrie Ann Tendler Kobre & Kim LLP 800 Third Avenue, 6fl New York, NY 10022 (212)488-1200 Fax: (212)488-1220 Email: [email protected] ATTORNEY TO BE NOTICED Daniel Mason Zelle, Hofmann, Voelbel & Mason LLP 44 Montgomery Street Suite 3400 San Francisco, CA 94104 415-693-0700 Fax: 415-693-0770 Email: [email protected] ATTORNEY TO BE NOTICED Eric Buetzow Zelle Hofmann Voelbel & Mason LLP 44 Montgomery Street, Suite 3400 San Francisco, CA 94104 415-693-0700 Fax: 415-693-0770 Email: [email protected] ATTORNEY TO BE NOTICED Eric B.
[Show full text]
220 Central Park South Garage Environmental
220 Central Park South Garage Environmental Assessment Statement ULURP #: 170249ZSM, N170250ZCM CEQR #: 16DCP034M Prepared For: NYC Department of City Planning Prepared on Behalf of: VNO 225 West 58th Street LLC Prepared by: Philip Habib & Associates June 16, 2017 220 CENTRAL PARK SOUTH GARAGE ENVIRONMENTAL ASSESSMENT STATEMENT TABLE OF CONTENTS EAS Form……................................................................................................Form Attachment A......................................................................Project Description Attachment B..............................................Supplemental Screening Analyses Appendix I..................................................Residential Growth Parking Study Appendix II.................................................LPC Environmental Review Letter EAS Form EAS FULL FORM PAGE 1 City Environmental Quality Review ENVIRONMENTAL ASSESSMENT STATEMENT (EAS) FULL FORM Please fill out and submit to the appropriate agency (see instructions) Part I: GENERAL INFORMATION PROJECT NAME 220 Central Park South Parking Garage EAS 1. Reference Numbers CEQR REFERENCE NUMBER (to be assigned by lead agency) BSA REFERENCE NUMBER (if applicable) 16DCP034M ULURP REFERENCE NUMBER (if applicable) OTHER REFERENCE NUMBER(S) (if applicable) 170249ZSM, N170250ZCM (e.g., legislative intro, CAPA) 2a. Lead Agency Information 2b. Applicant Information NAME OF LEAD AGENCY NAME OF APPLICANT New York City Department of City Planning VNO 225 West 58th Street LLC NAME OF LEAD AGENCY CONTACT PERSON
[Show full text]
SUPPLEMENTAL OPERATING and FINANCIAL DATA for the Quarter Ended September 30, 2014
SUPPLEMENTAL OPERATING AND FINANCIAL DATA For the Quarter Ended September 30, 2014 INDEX Page Investor Information 2 2014 Business Developments 3 - 5 Common Shares Data 6 Financial Highlights 7 Funds From Operations 8 - 9 Funds Available for Distribution 10 Net Income / EBITDA (Consolidated and by Segment) 11 - 16 EBITDA by Segment and Region 17 Consolidated Balance Sheets 18 Capital Structure 19 Debt Analysis 20 - 22 Unconsolidated Joint Ventures 23 - 25 Square Footage 26 Top 30 Tenants 27 Lease Expirations 28 - 30 Leasing Activity 31 - 32 Occupancy, Same Store EBITDA and Residential Statistics 33 Capital Expenditures 34 - 38 Development Costs and Construction in Progress 39 Property Table 40 - 57 Certain statements contained herein constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition and business may differ materially from those expressed in these forward- looking statements. You can find many of these statements by looking for words such as “approximates,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “would,” “may” or other similar expressions in this supplemental package. Many of the factors that will determine the outcome of these and our other forward-looking statements are beyond our ability to control or predict. For further discussion of factors that could materially affect the outcome of our forward-looking statements, see “Item 1A.
[Show full text]
9 West 57Th Street
Space Report of Select Relocation Alternatives February 13, 2013 Looking for office space in New York City? Click here to contact us for a free customized report. Table of Contents 1. 250 WEST 55TH STREET 2. 9 WEST 57TH STREET 3. 681 FIFTH AVENUE 4. 712 FIFTH AVENUE 5. 717 FIFTH AVENUE 6. 745 FIFTH AVENUE 7. 540 MADISON AVENUE 8. 660 MADISON AVENUE 9. 1370 AVENUE OF THE AMERICAS 10. 888 SEVENTH AVENUE th 250 West 55 Street Location: BETWEEN BROADWAY AND EIGHTH AVENUE AVAILABLE SPACE Floor Rentable Area Asking Rental (in square feet) (per square foot) Multiple floors available in Roughly 24,000 rsf each $80’s - $90’s the base and tower of the building. COMMENTS: • Brand new LEED Gold construction. All floors feature oversized windows, 10’ finished ceilings, column free floorplates and minimal core penetrations. • Tower floors have incredible Southern, Western and Northern Views. ELECTRICITY: Submetered LANDLORD’S WORK: Build-to-suit POSSESSION: June 1, 2013 TERM: 10 years minimum BUILDING PROFILE OWNERSHIP: Boston Properties, Inc. YEAR BUILT: 2013 BUILDING AREA: 1,052,150 square feet NUMBER OF FLOORS: 38 250 West 55th Street Actual Photos and Renderings 250 West 55th Street Actual Photos and Renderings 250 West 55th Street Typical Core and Shell Plan – Tower Floors th 9 West 57 Street Solow Building Location: BETWEEN FIFTH & SIXTH AVENUES AVAILABLE SPACE Floor Rentable Area Asking Rental (in square feet) (per square foot) th th Entire 30 – 49 Approximately $165 - $200 31,000 rsf Each (divisible) COMMENTS: • Partial 30th – 49th Floors: Pricing reflects units to be built on the north side of the building with unobstructed views of Central Park.
[Show full text]
NYC Opera Faces Tragedy
20111212-NEWS--0001-NAT-CCI-CN_-- 12/9/2011 8:50 PM Page 1 INSIDE REPORT TOP STORIES PHILANTHROPY Michael Gross Individual giving fills seeks a light in the gaps left by shrinking public funds Kardarkness ® PAGE 2 PAGE 13 VOL. XXVII, NO. 50 WWW.CRAINSNEWYORK.COM DECEMBER 12-18, 2011 PRICE: $3.00 UH OH,OPRAH Giving an upgrade Daytime queen’s new to school lunches venture struggles to gain PAGE 3 traction, eroding brand’s lustre Retail alert! Men shop up a storm BY MATTHEW FLAMM PAGE 2 Next month,when the Oprah Winfrey Network debuts its new slate of shows, high on the list will be a weekly series called Oprah’s Next Biz leaders tongue- Chapter. Executives at OWN have got to be hoping their network tied as city foots bill starts a new chapter, too. for Cuomo tax hike Eleven months into her joint venture with Discovery PAGE 4; EDITORIAL, PAGE10 Communications, Oprah Winfrey is getting a punishing lesson in the limitations of her legendary brand in a media landscape that has never been more cluttered. Despite programming expenses of $135 million in 2011, OWN drew roughly the same number of viewers as the low-rated channel it replaced, Discovery Health—whose programming budget was just $29 million, according to SNL Kagan. Two much-trumpeted shows that launched this fall, The Rosie Show and Oprah’s Lifeclass,pretty much dropped off the map after modest starts. Adding insult to injury,Ms.Winfrey’s departure from BUSINESS LIVES the broadcast dial now appears to have been overhyped.WABC lost a chunk of audience in her GOTHAM GIGS old 4 p.m.
[Show full text]
COFA for 595 Madison Avenue, Manhattan Docket 02-2703
THE NEW YORK CITY LANDMARKS PRESERVATION COMMISSION 1 CENTRE STREET 9TH FLOOR NORTH NEW YORK NY 10007 TEL: 212 669-7700 FAX: 212 669-7780 PERMIT CERTIFICATE OF APPROPRIATENESS ISSUE DATE: EXPIRATION DATE: DOCKET #: COFA #: 09/20/2002 09/17/2008 02-2703 COFA 03-2020 ADDRESS BOROUGH: BLOCK/LOT: 595 MADISON AVENUE INDIVIDUAL LANDMARK MANHATTAN 1293/26 THE FULLER BUILDING Display This Permit While Work Is In Progress ISSUED TO: Gaston Silvva Chief Operating Officer, Fuller Madison LLC by Vornado Office Management LLC, Agent 888 Seventh Avenue New York, NY 10019 Pursuant to Section 25-307 of the Administrative Code of the City of New York, the Landmarks Preservation Commission, at the Public Meeting of September 17, 2002, following the Public Hearing of September 17, 2002, and the Public Hearing and Public Meeting of December 18, 2001, voted to grant a Certificate of Appropriateness for the proposed work at the subject premises, as put forth in your application completed on November 29, 2001. The proposed work consists of alterations to the paving at the 57th Street entrance, consisting of the removal of the modern concrete and black granite paving, and the installation of a new black granite surround and illuminated translucent glass panels, as shown in drawings A-01a, dated September 3, 2002, and A-02 and A-11, with attached photographs of the existing conditions, both dated August 8, 2002, and in a materials sample of the translucent glass, all prepared by Skidmore, Owings and Merrill Architects, and presented at the Public Hearings and Public Meetings. As originally presented to the Commission the work also included the installation of illuminated panels above the 57th Street entrance and an illuminated ceiling inside the designated lobby.
[Show full text]
FORM 10-K Vornado Realty Trust Vornado Realty L.P
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended: December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-11954 (Vornado Realty Trust) Commission File Number: 001-34482 (Vornado Realty L.P.) Vornado Realty Trust Vornado Realty L.P. (Exact name of registrants as specified in its charter) Vornado Realty Trust Maryland 22-1657560 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) Vornado Realty L.P. Delaware 13-3925979 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) 888 Seventh Avenue, New York, New York 10019 (Address of principal executive offices) (Zip Code) (212) 894-7000 (Registrants’ telephone number, including area code) N/A (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Name of Exchange on Which Registrant Title of Each Class Trading Symbol(s) Registered Vornado Realty Trust Common Shares of beneficial interest, $.04 par value per share VNO New York Stock Exchange Cumulative Redeemable Preferred Shares of beneficial interest, liquidation preference $25.00 per share: Vornado Realty Trust 5.70% Series K VNO/PK New York Stock Exchange Vornado Realty Trust 5.40% Series L VNO/PL New York Stock Exchange Vornado Realty Trust 5.25% Series M VNO/PM New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: Registrant Title of Each Class Vornado Realty Trust Series A Convertible Preferred Shares of beneficial interest, liquidation preference $50.00 per share Vornado Realty L.P.
[Show full text]
Condominium Offering Plan for 550 Vanderbilt Condominium
CONDOMINIUM OFFERING PLAN FOR 550 VANDERBILT CONDOMINIUM 550 Vanderbilt Avenue Brooklyn, New York 11238 TOTAL INITIAL OFFERING PRICE OF THE 278 RESIDENTIAL $388,570,000 UNITS OFFERED FOR SALE HEREBY: TOTAL INITIAL OFFERING PRICE OF THE 102 STORAGE $3,016,950 BIN LICENSES OFFERED FOR SALE HEREBY: AGGREGATE INITIAL OFFERING PRICE: $391,586,950 (The Condominium consists of 278 Residential Units and three Retail Units, and includes 102 Storage Bins available for licensing. One of the Residential Units, anticipated to be Unit 101, will be sold to the Board for use as the Resident Manager’s Unit. The Retail Units are not presently being offered for sale hereunder.) Sponsor Selling Agent Pacific Park 550 Vanderbilt, LLC Corcoran Sunshine Marketing Group, Inc. c/o Greenland Forest City Partners 888 Seventh Avenue 1 MetroTech Center, 23rd Floor New York, New York 10106 Brooklyn, New York 11201 Sales Office 179 Flatbush Avenue Brooklyn, New York 11217 Date of Acceptance for Filing: June 8, 2015 The term of the initial offering of this Plan commenced on June 8, 2015 and expires on June 7, 2016 unless said date is extended in a duly filed amendment. SEE PAGE (vi) FOR SPECIAL RISKS TO PURCHASERS. BECAUSE SPONSOR IS RETAINING THE UNCONDITIONAL RIGHT TO RENT RATHER THAN SELL UNITS, THIS PLAN MAY NOT RESULT IN THE CREATION OF A CONDOMINIUM IN WHICH A MAJORITY OF THE UNITS ARE OWNED BY OWNER- OCCUPANTS OR INVESTORS UNRELATED TO THE SPONSOR. (SEE SPECIAL RISKS SECTION OF THE PLAN.) THIS OFFERING PLAN IS THE ENTIRE OFFER TO SELL THESE CONDOMINIUM UNITS.
[Show full text]
MALACHY MC COURT SHOW (WMCA) Contact: Bob Schilling 888
RAG.° GUEST INTERVIEW PROGRAMS RADIO GUEST INTERVIEW PROGRAMS TODAY'S WOMAN (CBS) WALLACE AT LARGE (CBS) MALACHY MC COURT SHOW (WMCA) NEW YORK, NEW YORK Contact: Joan Burke Contact: Joan Burke Contact: Bob Schilling Contact; Rachel Maiori 524 West 57 Street 524 West 57 Street 888 Seventh Avenue Voice of America New York, New York 10019 New York, New York 10019 New York, New York 10019 250 West 57 Street 765-4321 765-4321 586-5700 New York, New York 10019 971-5661 TRAVEL & LEISURE TIME REPORT (Syndicated) WEST SIDE RADIO (WFUV-FM) Contact: Steve Valiensky Contact: Jerome D. Bona MARTHA DEANE PROGRAM (WOR) NEW YORK URBAN LEAGUE PRESENTS (WWRL Uncle Ellis' Desk, Ltd. 29 West 65 Street Contact: Carol Neustein Contact: Carol M. Weaver Broadcast Productions New York, New York 10023 1440 Broadway 8 WFUV-FM) Public Relations Enterprises, Inc. 520 Fifth Avenue 787-6970 New York, New York 10018 Ten West 135 Street New York, New York 10036 LO 4-8000 WORLD TODAY (Mutual Network) New York, New York 10037 682-5844 234-2050 Contact: Del Sharbett MEDICINE 1973 (WLXO-FM) UP THE FLAGPOLE (WRVR-FM) 135 West 50 Street Contact: Sill Bertenshaw New York, New York 10020 PERSPECTIVE REPORT (WN8C) Contact: Daniel Mack Eighteen West 45 Street Contact: Charles McCord 85 Claremont Avenue LT 1-6100 New York, New York 10036 Thirty Rockefeller Plaza New York, New York 10027 986-5707 WRAP LIP WITH BILL SCOTT (WMCA) New York, New York 10020 749-5400 CI 7-8300 Contact: Maurice Tunick METROPOLITAN REPORT (WNBC) UPDATE (ABC) 888 Seventh Avenue Contact: Charles McCord Contact:
[Show full text]
8775 50026.Pdf
Company Recipient Address 1 Address 2 Address 3 City State Zip Country 3M COMPANY ATT: ALAN E. BROWN OFFICE OF GENERAL COUNSEL 3M CENTER, ST. PAUL MN 55144 US BUILDING 220-9E-02 AIKEN SCHENK HAWKINS & RICCARDI P.C. ATT: BARBARA LEE CALDWELL 4742 NORTH 24TH STREET, PHOENIX AZ 85016 US SUITE 100 AIRGAS, INC. ATT: DAVID BOYLE, 259 RADNOR CHESTER ROAD RADNOR PA 19087 US CONSULTANT TO LEGAL DEPT AKIN GUMP STRAUSS HAUER & FELD LLP ATTN: DANIEL H. GOLDEN ONE BRYANT PARK NEW YORK NY 10036 US AKIN GUMP STRAUSS HAUER & FELD LLP ATTN: NATALIE E. LEVINE ONE BRYANT PARK NEW YORK NY 10036 US AKIN GUMP STRAUSS HAUER & FELD LLP ATTN: PHILIP C. DUBLIN ONE BRYANT PARK NEW YORK NY 10036 US ALDINE INDEPENDENT SCHOOL DISTRICT ATT: ANNETTEE RAMIREZ 14910 ALDINE-WESTFIELD HOUSTON TX 77032 US ROAD ALIX PARTNERS LLP ATTN: CARRIANNE BASLER 300 N LASALLE STREET CHICAGO IL 60654 US ALLARD & FISH, P.C. ATT: DEBORAH L. FISH, ESQ. 2600 BUHL BLDG 535 GRISWOLD DETROIT MI 48226 US ALPINE ELECTRONICS OF AMERICA, INC. ATT: CYNTHIA WOODRUFF- 19145 GRAMERCY PLACE TORRANCE CA 90501 US NEER, ESQ. ARCADIS U.S., INC. ATT: LIESL SPANGLER, 630 PLAZA DRIVE, SUITE 100 HIGHLANDS RANCH CO 80129 US ASSOCIATE COUNSEL ARENT FOX LLP ATT: JAMES M. SULLIVAN, ESQ. 1675 BROADWAY NEW YORK NY 10019 US ARENT FOX LLP ATT: JEFFREY ROTHLEDER, 1050 CONNECTICUT AVENUE, WASHINGTON DC 20036 US ANDREA CAMPBELL, ESQS NW ARENT FOX LLP ATT: MARY JOANNE DOWD, 1050 CONNECTICUT AVENUE, WASHINGTON DC 20036 US ESQ. NW ARMSTRONG TEASDALE, LLP ATT: DAVID L.
[Show full text]
SUPPLEMENTAL OPERATING and FINANCIAL DATA for the Quarter Ended June 30, 2015
SUPPLEMENTAL OPERATING AND FINANCIAL DATA For the Quarter Ended June 30, 2015 INDEX Page Investor Information 2 2015 Business Developments 3 - 4 Common Shares Data 5 Financial Highlights 6 Funds From Operations 7 - 8 Funds Available for Distribution 9 Net Income / EBITDA (Consolidated and by Segment) 10 - 13 EBITDA by Segment and Region 14 - 15 Consolidated Balance Sheets 16 Capital Structure 17 Debt Analysis 18 - 20 Unconsolidated Joint Ventures 21 - 23 Square Footage 24 Top 30 Tenants 25 Lease Expirations 26 - 27 Leasing Activity 28 - 29 Occupancy, Same Store EBITDA and Residential Statistics 30 Capital Expenditures 31 - 34 Development Costs and Construction in Progress 35 Property Table 36 - 48 Certain statements contained herein constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guarantees of future performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition and business may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as “approximates,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “would,” “may” or other similar expressions in this supplemental package. We also note the following forward-looking statements: in the case of our development and redevelopment projects, the estimated completion date, estimated project cost and cost to complete; and estimates of future capital expenditures, dividends to common and preferred shareholders and operating partnership distributions.
[Show full text]
Manhattan Office Market
Manhattan Offi ce Market 2 ND QUARTER 2015 REPORT A NEWS RECAP AND MARKET SNAPSHOT Pictured: 1001 Avenue of the Americas Looking Ahead Partnership for New York City: New York’s Future as the World Financial Capital The report released in June concluded that while New York City remains the preferred location of global fi nancial companies to establish their headquarters, there is a growing trend to relocate jobs and business operations to lower cost, more business-friendly locations that are beyond the city’s border. A comprehensive survey was conducted in collaboration with Gerson Lehrman Group (GRG), intending to better understand how the fi nancial industry is evolving; and what measures are required to solidify New York’s competitive advantage as a global fi nancial center. Collected data represents an overview of the responses from 50-fi rm respondents that included large banks, insurance companies and asset managers, private equity fi rms, hedge funds, and fi nancial technology (FinTech) startups; and represent about 1/3rd of the total industry employment in the city. Additionally, observations were included from 8-real estate fi rms that were surveyed; along with interviews from other related experts in the fi eld. Financial Industry – an economic snapshot • Contributes 20% of the city’s economic output, representing twice that of the next top-grossing industry. • Accounts for nearly 1/3rd of the city’s private sector payroll, despite accounting for only 8%, or about 310,000 of the city’s private sector jobs in 2013; of which 23,000 jobs are high-technology in the areas of software, data processing and network management.
[Show full text]