January 23, 2017 Comments Off on $139.4B from NYC Real Estate Views: 250 Downtown New York, New York News, Top New York Stories

$139.4B from NYC Real Estate

The next time someone tells you that Wall Street runs New York City, perhaps share a few of these facts from the Real Estate Board of New York.

The real estate business in New York City generates:

  • Approximately 12.5% of Gross City Product (GCP), up 50 basis points from 2013.
  • $139.4 billion in total economic output in 2015, a 20.1% increase from 2013.
  • Real estate provides 606,600 total jobs, up 9.5% from 2013, and $45.8 billion in total wages and benefits, a 28.7% increase from 2013. Workers directly employed in the real estate industry earn an average $75,700 in salary and benefits, up 21.1% compared to 2013.
  • The number of workers directly employed in the construction industry has grown 15.3% since 2013. Their wages grew 16.6%.

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