January 23, 2017
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%.
For comments, questions or concerns, please contact Bendix Anderson