New York: Prime talent is migrating to transit-oriented, waterfront neighborhoods
Quality of life and community setting is influencing the migration of talent and a growing residential development pipeline in neighborhoods outside of Manhattan, most notably Brooklyn and the New Jersey waterfront.
- Neighborhoods that experienced an influx of prime talent are strongly correlated with their connectivity to major transit hubs, specifically Grand Central, Union Square, Fulton Center, and Hudson Square, and thriving office markets.
- Located across the Hudson River from Manhattan’s West Side, Jersey City continues to be sought after due to its commutability to the Financial District by the PATH train. Williamsburg and Dumbo, located along the East River, have seen the greatest growth of prime talent in Brooklyn due to their access to subway lines and trendy amenities.
Source: JLL Research; U.S. Census Bureau