NYC's Finance and Tech Workforce Just Hit an All-Time High

Wall Street has never employed more people, and that's very good news for Manhattan office landlords.

Setting records: New York City's securities subsector now employs more people than at any point in its history, per the NYEDC. Finance and insurance jobs across the five boroughs have swelled to 385,400 — 36,700 more than pre-pandemic February 2020.

Winning talent: JLL research shows New York still holds a 10% lead among high-skilled professionals over its nearest rival. For every skilled worker the city loses to Florida, it gains 70 comparable profiles from other major states.

Actions over words: Jamie Dimon recently warned that proposed tax hikes could push companies out of New York. His bank then spent $4B building a new global headquarters at 270 Park Avenue — voting with its balance sheet.

What it means for landlords: Historically, securities employment has been one of the strongest leading indicators for Manhattan office demand. With headcount at all-time highs and talent continuing to flow in, the supply-demand equation is shifting — slowly, but meaningfully — in landlords' favor.

NYC’s back: Record securities employment and a deepening talent pipeline make NYC's office market story more compelling than the post-pandemic narrative suggested. For landlords, the fundamental demand driver is back — the question is whether leasing velocity can keep up.

A 2025 Nuveen survey found 94% of institutional investors now allocate to private credit. Pension funds, sovereign wealth funds, endowments — it's about as close to unanimous as institutional finance gets. What they know: T. Rowe Price research shows a 10% private credit allocation has historically cut portfolio volatility and improved risk-adjusted returns. $592.8 billion deployed globally in 2024, up 78% from the year before. Accredited investors on Percent get direct access to private credit, starting at $500: · 16.72% current weighted average coupon rate · Terms as short as 3 months · Full borrower financials before you invest $1.82B funded. 0.58% lifetime charge-off rate. 97.33% of all principal returned or currently performing. New investors can receive up to $500 on their first investment.

Follow the institutional money.

^{Alternative investments are speculative. Past performance not indicative of future results. Terms apply.}

➥  NYC’s proposed commercial rent regulation could deter landlords from leasing to small businesses, disrupt retail turnover, and weaken property values and tax revenues—making space harder to secure.

➥ A rare Fifth Avenue bankruptcy is rattling investors and developers, forcing a rethink of residential viability and pushing stakeholders to reassess asset use amid rising economic and political uncertainty.

➥ A proposed New York bill would curb private home listings by requiring rapid public posting or formal seller opt-outs, aiming to boost transparency and competition in the housing market.

➥ Rising operating costs for NYC rent-stabilized landlords are outpacing inflation, intensifying pressure for rent hikes even as tenant advocates and policymakers resist increases.

➥ A judge ordered Casa Blanca’s co-founders to pay $1.3M and open their books amid a bitter dispute with investors over alleged improper commissions and financial mismanagement.

➥ NYC is planning a 140-unit mixed-use project on East Harlem public land, using a tax-abatement-driven model to spur faster affordable housing development without direct subsidies.

➥ NYC’s real estate industry gives Mayor Mamdani mixed early reviews, praising pro-development signals but raising concerns over taxes, rent policy and business climate uncertainty.

Employment and retail sales are both trending upward but at a decelerating pace, signaling continued growth with some economic cooling ahead.

You currently have {{ rp_num_referrals }} referrals, only {{ rp_num_referrals_until_next_milestone }} away from receiving {{ rp_next_milestone_name }}.