Updated 7th October, 2014 from Archive 2010

The City of New York is home to a number of CBD’s or Central Business Districts, each providing unique business opportunities and incentives.

Midtown Manhattan

Midtown Manhattan is located in the central portion of the city of Manhattan. It is home to some of the most important business centers in the world, including the Empire State Building and Chrysler Building. The majority of NYC’s skyscrapers and business buildings are located in Midtown Manhattan. Other popular areas in Midtown Manhattan include Times Square, Fifth Avenue and Broadway. The United Nations Headquarters and Rockefeller Center are also located in Midtown Manhattan.

Lower Manhattan

Lower Manhattan is home to the “Financial District” of NYC. Lower Manhattan is also known as the “financial capital” of the world. Anyone who is an investment banker in NYC likely works in Lower Manhattan. The Twin Trade Towers are located in Lower Manhattan, and the 9/11 memorial is now located there. Wall Street is another popular street located in Lower Manhattan. It is common to see busy investment bankers walking around the New York Stock Exchange during the day.

Surrounding Lower Manhattan, one can find areas like Greenwich Village, Little Italy, Chinatown, TriBeCa, West Village, the Meatpacking District and East Village. Beautiful, gated residential communities can also be found near the Financial District. These developments include Gramercy Park and Peter Cooper Village.

Downtown Brooklyn

Downtown Brooklyn is quickly becoming one of the most popular business areas of NYC. It is currently the third-largest borough in the city. Companies are attracted to the prospect of moving to or relocating to Brooklyn due to the lower cost of rent. Several colleges are currently located in downtown Brooklyn, including NYC College of Technology, Long Island University, Polytechnic Institute of NYU and Pratt Institute. Gorgeous brownstone buildings fill the area of downtown Brooklyn.

Millions of square feet of office space can be found in Downtown Brooklyn. The Metro Tech Center is home to the offices of many professional firms. The Center is valued at over $1 billion and features 12 buildings. 

Downtown Flushing

Downtown Flushing is located in the northern part of Queens. It is known as one of the most diverse parts of NYC. Because of its diverse culture, many businesses are attracted to the possibility of moving into this area. Downtown Flushing has undergone renovation efforts in recent years. There is a movement to “revive” the city. Numerous developers are beginning to restore old churches and buildings in the area. They are turning run-down buildings into elegant office spaces.

Long Island City

Long Island City is quickly turning into one of the top areas to do business in NYC. Over 7,000 businesses are currently located in Long Island City. Over 90,000 people currently hold jobs in the city. The top industry in the area is the manufacturing industry. Millions of dollars have been devoted to renovation projects in the city. Currently, the city offers more than 2 million square feet of office space. The office space rental rates are considerably lower than other parts of NYC, such as Lower Manhattan or Midtown. Major companies like MetLife, Citigroup, Steve Madden and JetBlue have opened corporate offices in this area.

Sources:
1. http://www.licpartnership.org/economic-development
2. http://www.grandcentralpartnership.org/
3. http://www.flushingbid.com/