Why NYC? Why Now?

NYC has the talent. The majority of adults in the NYC metro have attended college or received a degree. Over 717,000 of these between the ages of 18 and 44 live within a 30 minute commute of Manhattan and this number is growing by double digits.

NYC has the educational base. Over 100 universities and colleges are located in NYC. Twenty rank among the nation’s top schools. Many are highly regarded for programs in STEM. In 2014, over 31,000 post-secondary degrees in STEM were awarded in the NYC metro, over double the number in the Boston metro. And 41,000 post-secondary degrees in STEM were awarded in State annually.

NYC is diverse. Millions in NYC are bilingual. More than a million speak both Spanish and English very well. Altogether, over 200 languages are spoken here.

NYC is a magnet for young adults. Persons age 25-34 grew in number by 230,000 between 2010 and 2014. Those with a college education grew 25% in recent years, double the growth rate reported in Boston.

NYC is a global hub for technology. Major high-tech companies like , IBM, in NYC generates 541,000 jobs and has been growing at a higher rate than jobs in .

NYC is a center for and innovation. Start ups have raised over $20 billion in tech funding since 2009. Combined, Internet and Mobile & Telecommunications account for 85% of venture capital deals and 68% of dollars invested. Venture capital funding in NYC metro is on track to reach a seven-year high and exceeds investments in New England.

NYC is accessible. NYC’s three airports combine to create the largest air transit transit network is also one of the most affordable ones in the U.S.

NYC has the best quality of life in the world. With over 30,000 restaurants and bars, nearly 3,000 cultural institutions and ten major league sporting teams, NYC is considered the cultural capital of the with everything to offer visitors and residents alike.

NYC has The Farley Building. Why Farley? Farley has history. The iconic Farley Building in NYC is listed on the National U.S., Penn Station.

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Why NYC? Why Now? NYC’s Tech Ecosystem

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Medium/Large Tech Companies Start Ups and Incubators! Top STEM Universities

Why NYC? Why Now? Why NYC? Why Now?

Competitive Talent Pool NYC universities awarded more post-secondary STEM degrees than Boston/Cambridge universities combined in 2014. also has one of the highest percentages of degree holding individuals, with the majority of those age 25 and up with some college or a degree; and when graduates choose Net Creative Class Migration 2009-2011 where to locate they overwhelming choose New York New York-Northern New 3,978 Jersey-Long Island as the number of educated adults ages 18 to 44 within a 30-minute commute of Manhattan jumped Boston-Cambridge-Quincy 3,712 by 172,000 people, skyrocketing 32% to reach over 1,977 717,000 in 2010. Source: The Brain Game: 2015 Update, Downtown Alliance. Source: 2013 Annual Meeting of the Association of American Geographers Post-Secondary STEM Degrees Awarded, 2014 Percent Change in Number of College Graduates Aged 25-34 (2000-2012) NY Statewide 41,621 New York City 25% NYC MSA 31,201 Boston 12%

Source: Joe Cortright, City Observatory Boston MSA 15,454 Denver MSA 5,248

Source: EMSI

Why NYC? Why Now? There are numerous colleges and universities in Competitive Talent Pool the NYC metro area. Many of these schools are highly regarded for their STEM programs.

The following are examples of some of the best schools with STEM programs in the NYC metro area:

CUNY Bernard M Baruch College 55 Lexington Ave, New York, NY CUNY Graduate School and University Center 365 5th Ave, New York, NY Cooper Union for the Advancement of Science and Art 30 Cooper Sq, New York, NY The NYU Tandon School of Engineering 6 MetroTech Center, Brooklyn, NY CUNY Hunter College 695 Park Ave, New York, NY Rockefeller University 1230 York Ave, New York, NY Weill Cornell Medical College 4805, 1300 York Ave, New York, NY Pace University - New York 1 Pace Plaza, New York, NY CUNY New York City College of Technology 300 Jay St, Brooklyn, NY Icahn School of Medicine at Mount Sinai 1428 Madison Ave, New York, NY Columbia University in the City of New York 116th St & Broadway, New York, NY CUNY City College 160 Convent Ave, New York, NY Vaughn College of Aeronautics and Technology 8601 23rd Ave, East Elmhurst, NY SUNY Downstate Medical Center 450 Clarkson Ave, Brooklyn, NY CUNY Brooklyn College 2900 Bedford Ave, Brooklyn, NY 11210 New Jersey Institute of Technology 150 Bleeker St, Newark, NJ 07102 Rutgers University: Newark 190 University Ave, Newark, NJ 07102 CUNY Queens College 65-30 Kissena Blvd, Flushing, NY 11367 CUNY York College 94-20 Guy R Brewer Blvd, Jamaica, NY 11451 St. Johns University: New York 8000 Utopia Pkwy, Jamaica, NY 11439 Manhattan College 4513 Manhattan College Pkwy, Bronx, NY 10471 CUNY College of Staten Island 2800 Victory Blvd, Staten Island, NY 10314 William Patterson University of New Jersey 300 Pompton Rd, Wayne, NJ 07470 Adelphi University 1 South Ave, Garden City, NY 11530 Mercy College 555 Broadway, Dobbs Ferry, NY 10522 Molloy College St. Thomas Aquinas College 125 NY-340, Sparkill, NY 10976 Long Island University Post 720 Northern Blvd, Brookville, NY 11548 Hofstra University New York Institute of Technology 1855 Broadway, New York, NY 10023 Webb Institute 298 Crescent Beach Rd, Glen Cove, NY 11542

Why NYC? Why Now? Competitive Talent Pool

Languages With more than 3 million foreign-born residents from more than 200 different countries, New York is home to one of the most diverse populations in the world. New Yorkers come from every corner of the globe and speak over 200 different languages. Nearly one-half of all New Yorkers speak a language other than English at home.

New York City Boston Denver Spanish 1,343,788 149,465 138,945 French 83,551 32,697 7,280 Italian 108,148 23,018 138,945 Russian 87,091 15,607 6,289 Korean 41,444 7,890 4,379 Arabic 71,329 23,391 7,148 Japanese 15,459 4,502 2,498 Chinese 489,851 95,056 12,092 Hindi 50,983 15,042 3,103

Percent of Population that Speak Languages other than English

Why NYC? Why Now? Competitive Talent Pool

Universities in the NYC metro area NYC Residents with at least a engaged in $3.3 billion dollars of Bachelor’s Degree academic R&D – more than any other 3,386,687 metro in the U.S. Source: National Center for Education Statistics, IPEDS database, 2013

A magnet for young adults, persons age 25-34 grew by 230,000+ between 2010 and 2014. Source: U.S. Census 2010 and 2014 American Community Survey (1 year estimates) 1,566,910

Since 2000, the number of creative 912,909 and professional workers living within 792,892 a 30-minute commute of Manhattan has grown by 90,000 – a gain of 18.5%. Source: DowntownNY.com The Brain Gain 2015 Update

NYC MSA Boston Denver San Francisco The majority of adults in the New York MSA MSA MSA Metro have some college or a degree. Source: US Census Bureau, American Community Survey, 2014. Those with a doctorate or professional degree are over 3 times more common here than across the nation. Source: US Census 2014 American Community Survey (1 year estimates)

Why NYC? Why Now? Competitive Talent Pool

CUNY Energy Institute, headquartered at City College of New York, produces cutting-edge research and develops innovative sustainable energy technologies that have practical and economical applications. The focus area of the institute’s faculty includes: energy storage, nuclear, and oil and gas.

NYU’s School of Engineering’s Bioengineering Program mission is to provide excellence in education and training, and to facilitate research leading to the discovery and development of new rationally-engineered materials, devices, technology, and biomolecular agents for medicine.

Columbia University’s Electrical Engineering Department focuses on research areas that include: signal and information processing; networking and communications; micro devices and physical principles; systems biology and neuroengineering; and integrated circuits and systems.

Center for Information Networking and Telecommunications (CINT), located at City College, focuses on research and networks; sensor and ad-hoc networks; cloud and information networks; integrated wired/wireless networks; and information distribution networks.

Why NYC? Why Now? New York has proven its worth as an innovation hot spot Start Ups. The “Big Apple” was once known Strength in new technologies, it’s fast becoming a tech capital. In the Technology Sector past 10 years New York’s high tech companies have grown exponentially, drawing in the best and brightest talent. In fact, high tech companies in NYC generate 541,000 jobs and $125 billion in annual economic output.

There are a vast number of tech companies located in NYC. New York City now has 395 digital companies with 10+ employees. Everyday more major tech companies are opening locations in New York City such as Google, Buzzfeed, and LinkedIn. The city maintains a list by location of tech startups on the Digital NYC website which currently lists nearly 1,000 companies. NYC is also home to many

IAC/InterActive 555 W 18th St Google Eighth Ave and West 15th St Soundcloud 50 W 23rd St IBM Madison Ave & E 57th St 35 E 21st St IBM Watson Group Astor Place Hulu 79 Fifth Ave Microsoft (Technology Center) 11 Times Square Square 375 W Broadway Xerox Midtown East L3 600 3rd Ave Siemens Corporation Madison Ave & E 54th St MongoDB 229 W 43rd St Facebook Broadway & E 8th St OnDeck Captial 1400 Broadway MasterCard Analytics 114 Fifth Ave & 17th St Blue Apron 5 Crosby St First Data Corporation Liberty Street Buddy Media 155 6th Ave LinkedIn 350 Fifth Ave FanDuel 19 Union Square West Shutterstock Images 350 Fifth Ave Gilt Groupe 2 Park Ave LexisNexis 230 Park Ave MakerBot One MetroTech Center Uber 261Eleventh Ave Seamless 1065 Avenue of Americas Wellcome Group 261 Eleventh Ave Oscar 295 Lafayette St Thelab LLC 271 Eleventh Ave Palantir 15 Little W 12th St Taboola 28-40 W 23rd St ShopKeep 143 Varick St AppNexus 40 W 23rd St Sprinklr 29 W 35th St Vice 90 N 11th St Tremor Video 1250 Broadway Buzzfeed 225 Park Ave S Varonis 1250 Broadway Cash Edge 215 Park Ave S Warby Parker 161 Avenue of the Americas MeetUp 632 Broadway WeWork 115 W 18th St Double Click 450 W 33rd St Zeta Interactive 185 Madison Ave Etsy 55 Washington St #512 ZocDoc 568 Broadway #901

Why NYC? Why Now? Strength in Technology Sector

it to become the hub for their tech and digital teams. As millennials rely on collaboration and the exchange of ideas to help come up with new products and innovations companies like JPMorgan and Time Inc. are turning to New York’s many buildings to create the needed environment.

JPMorgan Chase leased 123,000 square feet at 450 West 33rd Street and will relocate its tristate digital teams to the new location, which is two blocks from Farley.

Source: The Real Deal

Markit 450 West 33rd in order to have all of its employees on exchange.

Source: The Real Deal

eBay opened a “technology center” at 625 6th Ave in 2012. The employees at this location are focused solely on developing new programs to enhance user experience.

Source: The Real Deal

Time Inc. is moving its technology, content solutions and innovations departments to a 55,000 square foot facility in Industry City, Brooklyn.

Source: Bloomberg

Why NYC? Why Now? Strength in Technology Sector

New York City has more New York City digital New York’s quarterly tech jobs than Boston/ employment increased employment growth Cambridge by 6.3% as the city added has been greater than 2,930 jobs in Q2 2015. Boston’s for 12 of the Boston added 950 jobs for past 14 quarters. a 5.0% increase in digital Source: ON Search Partners’ Digital Jobs employment. Index

Tech employment grew Tech Jobs

57% between 2007 and 150,000 2014, faster than in Silicon Valley (36%). 140,000 Source: Federal Reserve Bank of New York, Will Silicon 125,047 Alley Be the Next Silicon Valley, July 6, 2015 130,000 NYC High tech companies in 120,000 NYC generate 541,000 110,000 jobs and $125 billion 100,000 in annual economic 109,183 output. 90,000 Source: HR&A Advisors, The New York City Tech Ecosystem: Generating Economic Opportunities for All Boston/Cambridge New Yorkers. 80,000

70,000 High tech companies 2003 2005 2007 2009 2011 2013 2015 2017 2019 2021 2023 2025 in NYC grew four times (PROJ.) (PROJ.) (PROJ.) (PROJ.) (PROJ.) faster than the rest of Source: EMSI the City’s economy. Source: NYS Comptroller, New York City’s Growing High- Tech Industry, April 2014.

Why NYC? Why Now? Strength in Technology Sector

Technology is leading NYC’s post-recession job growth.

NYC Employment Growth Since Pre-Recession

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30% Tech 20%

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2007 2008 2009 2010 2011 2012 2013 2014 2015

Why NYC? Why Now? New York is one of the top markets for Magnet for Venture Capital tech funding in the United States, with local startups raising over $20B across and Innovation 3,800 deals since 2009. Deal activity has increased every year since 2009, reaching 890 deals in 2014. Funding is on track to reach a 7-year high in 2015, with over $3.8B in funding already this year.

Ranks higher than VC Investment the Los Angeles and Chicago metro areas in $6B NYC its Innovation Index. Metro New York ranked $5B second behind New England in terms $4B of deals and total $3B funding, and ahead of Massachusetts. $2B Source: http://www.statsamerica.org/innovation/ innovation_index/region-select.html $1B

$0 Combined, Internet 2003 2005 2007 2009 2011 2013 2015 and Mobile & (Thru Q3)

Telecommunications Source: PWC Moneytree accounted for 85% of all VC deals and 68% of dollars invested in New York in Q2 2015. Source: NYCEDC Economic Research and Analysis, Tech Trends & Insights, October 2015 VC Investment Silicon Valley: $23.1 billion Captured $5.3 billion in by Region, 2015 venture capital in 2014 (through Q3) NYC Metro: $5.5 billion across all sectors. New England: $5.0 billion Source: PricewaterhouseCoopers Money Tree Report Venture capital funding LA Metro: $4.1 billion grew 181% between NYC overtook New England in VC 2010 and 2014 in the investment in 2014. New York Metro. Source: PricewaterhouseCoopers Money Tree Report

Why NYC? Why Now? Magnet for Venture and couldn’t have done this without its several start up business incubators Capital and Innovation space, and even seed capital in many cases.

500 Startups Offers a four-month program that provides mentorship, hands-on sessions with startup 386 Park Avenue Studio Assists internet startups in making essential products that thoughtfully combine art and 29 Little W 12th St science. CUNY Sustainable Works NYC 75 Park Place CUNY Sustainable Works is working to leverage that platform to enable the market for other cleantech innovations and processes utilizing CUNY’s institutional strengths and partnerships. Dreamit Provides early stage entrepreneurs with resources, advisors, investors, strategic partners, 394 Broadway and customers looking for innovative solutions. Entrepreneurs Roundtable Accelerator Offers a four-month program that combines hands-on help, seed capital, a great co- 500 7th Avenue working location, and an expert leadership team. Friends of EBay 625 6th Ave network of entrepreneurs, business leaders, and investors, along with the chance to work Grand Central Tech A community of startups and strategic partners that breaks from the traditional 335 Madison Avenue accelerator model by providing an unparalleled value proposition. Incubator 39 A technology incubator, accelerator, and co-working space which strives to provide 142 East 39th Street promising startups the ability to thrive in the heart of New York City. Ingk Labs Builds companies leveraging IP focused on commerce, customer service, natural 101 Fifth Avenue language & machine intelligence, analytics & tracking, reputation management, social data aggregation and social noise reduction. Metellus Group Believes business is a force for good and invests in startups that help people. 244 Fifth Avenue Samsung Accelerator Provides strategic capital, product support, and independence to seasoned entrepreneurs 30 West 26th St so they can build market-driven software and services. Spark Labs Devoted to the success of startups, growing businesses, consultants & freelancers in the 833 Broadway tech and media industries. They provide quality workspace, a community of innovators, events and networking, and maximum support from their infrastructure and partners. Startup Ecology A new type of accelerator/incubator/school located in Chelsea for startups that is a Chelsea cradle to exit model. Nobody gets voted out, but everybody must prove they belong. Offers a three-month mentorship-driven accelerator program as well as access to over 1.5 1407 Broadway million people across the Techstars ecosystem. Serves to “globalize Silicon Valley” by “providing high-potential entrepreneurs with expert New York training, critical objective feedback, and peer support in the early stages of building a company.” The Founder Institute offers a four-month program that covers various topics critical for startups, from startup legal issues to fundraising. The Hatchery A venture collaboration forum, building a community of entrepreneurs, emerging 1601 Broadway companies, and investors, via its events, advisory services, and incubator. Tipping Point Partners 86 Chambers Street WeWork Labs, 175 Varick St Multiple locations throughout NYC where it leases 1.6 million square feet to StartUps and WeWork, 25 Broadway other companies to help foster collaboration and innovation. WeWork, 222 Broadway Work-Bench An enterprise technology growth accelerator that scales enterprise technology companies 110 Fifth Avenue by providing community and workspace, connects exceptional builders to Fortune 500 buyers, and co-invests in extraordinary founders tackling enormous markets.

Why NYC? Why Now? 13 The New York City metropolitan area’s JFK Transportation International, LaGuardia, and Newark Liberty Infrastructure International airports combine to create the largest airport system in the United States, second in the world EWR served 53.3, 35.6 and 26.9 million respectively.

Number of Number of Number of Number of Number of Non-Stop Total Non- Non-Stop Non-Stop Non-Stop Domestic International Domestic International Stop Flights Airport Destinations Destinations Airport Flights Daily Flights Daily Daily New York City Metro 112 127 Newark (EWR) 271 106 377 Logan (BOS) 70 50 John F. Kennedy (JFK) 266 224 490 Denver (DEN) 152 19 LaGuardia (LGA) 447 56 503

LaGuardia Airport Renovations JFK Airport Renovations

Plan will unite airport’s four Creating master plan disconnected terminals Saarinen building is going to be Will include retail and dining space; constructed into a new, state-of-the- a hotel; a conference and business art hotel center and other modern features World-class restaurants The amenities also will include transportation features such as an 500+ guestrooms AirTrain, ferry service and a people 40,000 square feet of event and mover to help passengers traverse the meeting space entire airport 10,000 square-foot public observation deck Construction of a new East Parking Garage Approximately 1,100 vehicle spaces will be included in the new lot

Why NYC? Why Now? Transportation Infrastructure

States. Penn Station and Grand Central Station serve millions of commuters and travelers every year through the train and subway services.

Moynihan Station In FY 2014, just over 10 million riders took Amtrak either to or from Penn Station. Amtrak will be shifting its operations the new station. Source: Amtrak National Fact Sheet. In addition, Moynihan will become a destination in its own right attracting non-commuting residents and tourists (as a point of comparison, Union Station (DC), after its revitalization, attracts 14.5 million local residents and 8 million tourists each year.) Source: RPA

Penn Station 600,000 - 650,000 visitors daily, the busiest transit hub in the US, Penn Station provides access to Long Island from the LIRR and New Jersey with the New Jersey Transit. from January 2015

Grand Central 750,000 people pass through daily. The terminal serves commuters traveling on the Metro-North Railroad to Westchester, Putnam, and Dutchess counties in New Connecticut. Source: GCT

Why NYC? Why Now? Quality of Life

Number of Restaurants/Bars Full-service restaurants 16,251 Counter service restaurants 18,780 Bars, taverns, and nightclubs 2,657

Number of Cultural Institutions Museums/Cultural Awareness Centers/Art 166 Performing Arts Venues 35 Broadway Theatres 40 Zoos/Gardens 14 Historic Homes 40 Other Attractions 8

Major NYC Events New York is the entertainment capital of the world. NYC is not only appealing to the eye with all of its twinkling lights, but it has plenty to follow up with. Along with the world renowned Broadway theaters, there is an abundance of famous restaurants, parks and attractions.

Major annual events in NYC 155 Major annual events in Boston 65 Major annual events in Denver 129

Why NYC? Why Now? Quality of Life Like no Arts & Culture NYC is home to more world-class arts and cultural other institutions than anywhere in the US.

Times Square Nothing compares New Year’s to the exhilaration of Frieze New York The contemporary art fair with scores Eve Ball Drop watching the Times of galleries represented from around Square Ball Drop. the world. Macy’s Shakespeare in the The play’s the thing all summer long, Fourth of July celebrate the nation’s Park as the Public Theater serves up great Fireworks independence. classics at the open-air Delacorte Theater in Central Park. Macy’s There’s nothing like Thanksgiving seeing the country’s Museum Mile The City’s most celebrated museums Day Parade greatest Thanksgiving Festival open their doors for free. Street (and Balloon Day procession in activities add to the fun including live person. Giant helium music, performers and art for kids. balloons of Snoopy, Kermit the Frog and Lincoln Center Since 1996, the highly anticipated other kids’ favorites Festival Lincoln Center Festival has are just the beginning; showcased the best in opera, chamber music, theater, multimedia celebrity performers, performance, ballet, modern dance marching bands and and multidisciplinary works. Broadway musical numbers. New York Fashion The who’s who of the fashion Week descends on the world’s fashion Rockefeller The lighting of the capital for two weeks. Center Tree towering tree is a Lighting sight to behold, and NYC Pride Week LGBT-pride celebrations around the lighting ceremony the City include rallies, parties, a features celebrities, 5-mile race and marches. The week musical performances culminates with a grand parade from and more. Midtown to Greenwich Village. NYC Food & Wine The four-day festival hosts the Festival world's greatest chefs, winemakers, spirits producers and personalities to educate palates and entertain attendees in high style. New York Comic This celebration brings together the Con latest in American and Japanese pop books, anime, manga, video games, live-action Japanese cinema, fashions and food. Village Halloween Greenwich Village hosts the biggest Parade anyone in costume welcome to join in.

Why NYC? Why Now? Quality of Life Film Music There is not a band big or small that doesn’t tour NYC.

SummerStage Free live music of Tribeca Film in Central every genre at this Festival in the United States with hundreds of Park annual outdoor concert movies shown in venues citywide and series held at Rumsey panel discussions. Park as well as parks New York The play’s the thing all summer long, in Brooklyn, Queens, International as the Public Theater serves up great the Bronx and Staten Children’s Film classics at the open-air Delacorte Island. Festival Theater in Central Park. CMJ Music New York Film The Film Society of Lincoln Center Marathon and nights, more than Festival presents a collection of international Film Festival 1,300 artists and cinema, including world premieres, 120,000 fans take over more than 80 of the discussions. City’s nightclubs and theaters for New York New York Jewish Presented by The Jewish Museum City’s largest music Film Festival and the Film Society of Lincoln festival. Center, this global survey of innovative and provocative movies The The Metropolitan Opera focuses on the Jewish experience. Metropolitan is the preeminent Opera opera house in the Brooklyn Film United States, if not the Festival expose and promote independent world. attention to Brooklyn as a center for New York Free concerts city-wide cinema. Philharmonic courtesy of the New Concerts in York Philharmonic. New Directors/ Presented by the Museum of Modern the Parks New Films Art and Film Society of Lincoln Center, this noncompetitive festival Lincoln Center The free summer music features the work of emerging Out of Doors fest offers dozens of live performances for dramatic, documentary, animated, the whole family. experimental and more. Fusion Film Mounted by NYU, this festival has Festival been promoting the works of women more than 10 years with a mix of screenings, master classes, panels and pitch meetings. Havana Film Week-long festival featuring Festival documentaries, full-length features, the Caribbean, Mexico, and Central and South America.

Why NYC? Why Now? Quality of Life Sports NYC loves sports and has the fans to prove it.

US Open Tennis America’s foremost tennis Championships tournament takes place at the USTA Billie Jean King National Tennis Center in Queens. TCS New York City Both amateur and world-class Marathon professional athletes race 26.2 miles TD Five Boro Bike More than 30,000 cyclists ride across Tour festival with food, bike-related exhibits and tour gear for sale.

NYC is also home to 10+ major professional sports teams: Yankees Mets Giants Jets Knicks Nets Liberty Rangers Islanders NYC Football Club

Why NYC? Why Now? Quality of Life

Schools In and close to New York City there are many excellent choices for public schools. 20 of US NEWS & WORLD REPORT’s top 500 schools are in New York City. In the New York City metropolitan area there are 46 the U.S. Department of Education www2. ed.gov/programs/nclbbrs/index.html. That compares to only 11 in the Boston area and 6 in or near Denver. 13 are right in New York City itself. Brooklyn: PS 11, 100, 222, 247, 254, 277, 682; Queens: PS 46, 66, 205, 221, 244; Staten Island: PS 5. Further, the premier high school program available in the world, the International Baccalaureate Progamme (called IB) http:// www.ibo.org/about-the-ib/ can be found at 64 schools in the New York City metro area, compared to 11 in the entire State of Massachusetts and 32 in all of Colorado.

Why NYC? Why Now? Quality of Life Housing Preservation and Development, there are over 75,000 available rental units in the city. Available apartments are plentiful, and the median rent has proved average among many up and coming cities. New York City and its surrounding boroughs have much to offer young up and coming professionals. There is a community with available housing for everybody. Although NYC’s cost of living is high, its expansive and low-cost transit network allows residents to compensate by saving on transportation costs. Highest Median 1-Bedroom Rent among major US cities Annual Transportation Costs for a Typical San Francisco: $3,670 New York City: $3,280 Boston: $2,400 NYC San Francisco Source: Zumper Philadelphia Chicago Boston Home Price Index (High to Low) Miami San Francisco: 216.46 Seattle Boston: 184.80 Washington, DC Detroit NYC: 182.21 Los Angeles Source: S&P/Case-Shiller 10-City Composite Home Price Dallas Index as of September 2015 Atlanta Houston Columbus Austin San Antonio Phoenix Indianapolis Jacksonville Riverside San Jose

$0 $2 $4 $6 $8 $10 $12 (dollars in thousands)

Source: U.S. Department of Housing and Urban Development, Location Affordability Portal – Volume 1 (accessed July 10, 2014). www.locationaffordability.info/lai.aspx

Why NYC? Why Now?