top of page

New York CRE Data: Markets and Trends Across New York State

Major CRE markets in New York State

As of June 2024, Biscred’s prospecting database houses contact information for 19,143 CRE companies that operate in New York state, the majority of which (16,777) are headquartered there. Biscred’s subscribers can access contact information for over 72,000 CRE professionals who are located in or do business within the state as well.

In the table, you’ll find data for New York’s largest metropolitan markets for office space square feet, multifamily units, retail square footage and industrial square footage. Data provided by NAR Commercial Real Estate Report Q1 2024. (8)

Examples of CRE Developers in New York

Tishman Speyer

Trishman Speyer provides commercial real estate spaces for 1,800 customers across 85 key markets. They develop properties in Austin, Bala Cynwyd, Boston, Chicago, Los Angeles, Nashville, New York City, Pittsburgh, San Diego, San Francisco, Seattle, Toronto, and Washington DC.

  • HQ: Rockefeller Center, New York City

  • Developer, private equity, proptech and operator

  • Mixed use, office, retail, life sciences, hospitality, industrial, and affordable housing

  • 350 contacts for Tishman Speyer in the Biscred database

  • 120 estimated properties in portfolio

Notable Projects:

  • Merge, a 1.25-million sq-ft work and lifestyle campus in Bellevue, WA

  • 2-acre Harvard Enterprise Research Campus, Boston, MA

  • Chang’An Mills, a creative urban regeneration project that hosted 2022 Winter Olympics in Beijing



Artimus has been servicing New York City’s communities for over 30 years with over 5 million square feet of mid-rise and high-rise projects developed. They develop properties in New York City.

  • HQ: New York, NY

  • Developer

  • Multifamily, retail, mixed use, hospitality, office, affordable housing

  • 26 contacts for Artimus Construction on Biscred

  • 12 properties currently listed on Biscred

Notable projects

  • Alvista Rise, a 500,000 sq-ft residential, parking, and retail space in Jamaica, New York

  • INNSide By Melia Hotel, a 21-story hotel in the heart of New York City

  • Harlem Parish, a restoration and rehabilitation into an event space in Harlem, New York

Examples of New York State CRE Operators & Property Managers

W.P. Carey

W.P. Carey, originally founded in 1973, has developed over 168 million sq ft of properties across 26 countries. W.P. Carey’s portfolio is primarily industrial and warehouse within the United States

  • HQ: New York, NY

  • REIT, operator, developer

  • Education, hospitality, entertainment, student housing, land, parking, industrial, office, retail, life sciences, self storage and government

  • 62 contacts on Biscred

  • 3 locations (New York, Dallas and London)

  • 1,449 estimated properties

Examples of projects

  • ABC Technologies, an automotive component manufacturing facility in North America

  • Extra Space Storage, Inc. self-storage properties in the U.S.

  • Nord Anglia Education, Inc K-12 private schools in the U.S.


Clover Group

The Clover Group has purchased and/or developed over 10,000 apartment units and 800,000 sq ft of CRE since 1989. They specialize in managing multi-family rental units and senior apartments.

  • HQ: Buffalo, NY

  • Developer, property management, operator, REIT

  • Senior living, multifamily, office, retail, affordable housing

  • 8 contacts for Clover Group on Biscred

  • 150 estimated properties

Notable projects

  • Historic Franklin Street apartments located in downtown Buffalo, New York

  • 55+ Camillus Pointe senior apartments in Syracuse, New York

  • Village Pines multifamily apartments located in Orchard Park, New York

Metropolitan Area

Office Sq Ft

Multifamily Units

Retail Sq Ft

Industrial Sq Ft

Albany, Schenectady, Troy










Buffalo, Cheektowaga





Glen Falls










NYC, Newark NJ










Examples of CRE Investors in New York

One Liberty Properties

One Liberty Properties is a real estate investment trust with a diverse portfolio across 31 states with over 10.8 million sq ft in assets under management.

  • HQ: Great Neck, NY

  • REIT and operator

  • Retail, industrial, office, hospitality, entertainment facilities

  • 8 contacts on Biscred

  • 109 properties in 31 states

Properties include

  • Power Distributors and Keystone Automotive, a 208,234-sq-ft industrial property in Ankeny, Iowa

  • City of New York NYPD office property in Brooklyn, New York

  • Office Depot 24,978 sq ft retail space in Eugene, Oregon


Blackstone Real Estate Income Trust

Blackstone is one of the world’s largest buyers, sellers, and owners of commercial real estate with a portfolio worth over $586 billion. They primarily invest in rental housing and industrial properties.

  • HQ: Manhattan, NY

  • REIT, operator

  • Affordable housing, office, industrial, retail, multifamily, hospitality, senior living, self-storage, data centers, and student housing

  • 11 contacts on Biscred

  • 5,172 estimated properties in Blackstone REIT’s portfolio

Notable projects

  • American Campus student housing communities at major U.S. schools like AU, Texas A&M, and Florida State University.

  • QTS data centers in Northern Virginia, Atlanta, and Dallas

  • Bellagio net lease luxury resort in Las Vegas, Nevada

Grow Your New York CRE Business with Biscred

Get access to more than 19,100 CRE companies in New York and more than 62,300 CRE professionals through the best, most accurate and current database in the CRE industry.

Additional Insights | New York CRE Landscape

New York Population Stats (11)

  • State population: 19,469,232

  • Metro areas with largest population growth (2010 to 2022):

    • Kings County with 80,562 more residents

    • Queen’s County with 43,445 more residents

    • Nassau County with 42,084 more residents


Hot CRE Markets in New York



New York City remains as a prime market for commercial real estate investment, as it has recently received $30 million as part of the “NYC awakens” campaign. Year-over-year rent growth is at 2.8% for Q1 2023 with the average sale price per unit at $404,000 and the average property sale price at $10.2 million (12).


New York City’s retail vacancy rate is on par with its long-term historical average of 4.1 percent with some of the highest rents in high foot traffic areas (12).


The industrial sector is also growing strong, with over 30 million square feet of projects being launched and $6.9 billion in sales in 2022. Industrial rent has also increased by 9.1% (12).



Albany has had steady population growth over the past 50 years with no signs of slowing (13). CBRE insights report puts Albany in the top 25 U.S. metros for life sciences research talent (14). Additionally, the total GDP for Albany-Schenectady, NY, has risen from $74 million in 2021 to over $80 million in 2022 (15).


With such high economic growth, Albany is expected to be a hot CRE market in 2024. In 2022 alone, industrial rent growth reached an all-time high annual rate of 9.4% (16).



In 2023, the Syracuse, Rochester, and Buffalo region won a U.S. competition to become a national tech hub that will receive a share of up to $10 billion in federal aid for stimulating investment in semiconductor manufacturing and research (17).


This, combined with the 7.41% GDP growth from 2021 to 2022 (18) suggests that upstate New York is likely to be a CRE hotspot in the next few years.


  1. Investopedia, New York’s Economy: The 6 Industries Driving GDP Growth, 2024-05-29, accessed 2024-06-06

  2. Wikipedia, List of airports in New York (state), last updated 2024-01-26, accessed 2024-06-06

  3. Air Force (official site), New York Bases, accessed 2024-06-06

  4. Wikipedia, List of New York railroads, last updated 2024-03-22, accessed 2024-06-06

  5. Department of Commerce, International Trade Administration, FTZ Zone Information (State = NY), accessed 2024-06-07

  6., List of Fortune 500 companies (state = New York), updated 2024-05-28, accessed 2024-06-07

  7. BoostSuite, 20 Fascinating New York Small Business Statistics, 2023-02-07, accessed 2024-06-06

  8. NAIOP, Economic impacts of CRE: A Look at New York, accessed 2024-06-06

  9. NAIOP, Economic Impacts of CRE: Impacts Dashboard 2024 Edition (state = New York), accessed 2024-06-07

  10. National Association of Realtors, Commercial Real Estate Report Q1 2024 for New York metro markets, accessed 2024-06-06

  11. World Population Review, New York Population 2024, accessed 2024-06-07

  12. Matthews Real Estate Investment Services, New York CRE Market Report, accessed 2024-06-06

  13. Macrotrends, Albany Metro Area Population 1950-2024, accessed 2024-06-06

  14. CBRE, Top 25 U.S. Metros for Life Sciences Research Talent 2023, accessed 2024-06-06

  15. Federal Reserve Bank of St. Louis, FRED Economic Data: Total GDP for Albany-Schenectady-Troy, NY (MSA), 2017-01-01 to 2022-01-01, accessed 2024-06-06

  16. CoStar, Albany’s Industrial Rent Growth Expected to Retreat to Pre-Pandemic Levels This Year, 2024-01-30, accessed 2024-06-06

  17., Syracuse, Rochester and Buffalo win US designation as national tech hub for computer chips, 2023-11-08, accessed 2024-06-06

  18. Federal Reserve Bank of St. Louis, FRED Economic Data: Total GDP for Syracuse, NY (MSA), 2017-01-01 to 2022-01-01, accessed 2024-06-06

  19. Image Photo 52257388 | Joe Sohm |

The state of New York is the third largest economy in the United States with a gross domestic product of $1.78 trillion (1). If it were its own country, New York would have the 14th largest economy in the world. New York has:

  • 7 major metropolitan areas

  • 16 commercial airports (2)

  • 5 federal air bases (3)

  • 43 freight railroads (4)

  • 4 major seaports

  • 14 foreign trade zones (5)

  • 50 Fortune 500 (including 14 Fortune 100) companies HQ in New York (6)

  • 2.2 million small businesses are located in New York (7)


In 2023, commercial real estate in New York contributed about $27.5 billion to the state’s economy, 158,492 jobs, and generated roughly $10.4 billion in salaries and wages. (8)

NAIOP figures indicate that direct spending on New York CRE was more than $14.9 billion in 2023, and these were the top asset classes (9):


  1. Warehouse: $2.9 billion

  2. Office: $8.7 billion

  3. Industrial: $1.3 billion

  4. Retail: $1.9 billion

bottom of page