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09/23/2011

Big Apple Bits

Crain’s New York Business recently put out its annual edition of “City Facts” concerning commerce and trends in the Big Apple, which makes it most appropriate for this space.

So following are a few tidbits I gleaned from the issue.

---

--It appears New York will pass the 50 million visitor level this year, a target set by Mayor Michael Bloomberg. And here’s a key: “In 1985, when the Marriott Marquis was built in a seedy Times Square, New York counted 46,000 hotel rooms. The number is now rapidly rising and will soon reach 95,000, says PKF Consulting. Because so many rooms are coming on the market, rates have remained reasonable, which brings in even more visitors.”

--Tourist visitors, in millions

2006…43.8
2007…45.9
2008…47.0
2009…45.6
2010…48.7

--Where visitors come from [2010]:

United Kingdom…1,055,000
Canada…976,000
France…595,000
Brazil…589,000
Germany…528,000

--Annual average occupancy rate at NYC hotels

2007…86.1%
2009…81.8%
2010…85.3%

--Average hotel room rates

2007…$303
2008…$307
2009…$237
2010…$255

--Airlines / New York area airports, passengers in millions for 12-months ended April 2011

United Continental…30.0
Delta Air Lines…20.8
American Airlines…13.9
JetBlue Airways…13.6
US Airways…6.0

--Office vacancy rates in Manhattan.

1987…11.5%
2000….3.7%
2007….6.1%
2011….9.4% [Q2]

--The Great Recession That Wasn’t

1969-77…642,300 jobs lost in NYC
1989-92…369,900
2008-09…134,600 [City has regained about 76,000 since then]

--Construction Spending…in billions

2001…$15.3
2004…$17.8
2005…$20.9
2006…$26.7
2007…$31.1
2008…$31.0
2009…$27.0
2010…$23.7 [forecast]

--Average price for a Manhattan apartment in the second quarter was higher than the price at the end of 2007, and more than twice that for the fourth quarter of 2000.

2000…$688,087
2007…$1,439,909
2011…$1,455,098

[Downtown apartment prices since 9/11 have more than doubled from $686,202 to $1,411,303.]

--New York City Population Composition

White…44.0%
Black…25.5%
Asian…12.7%

--Number of jobs in the financial sector in NYC (broad-based definition….thousands)

2000…369.9
2003…318.8
2007…347.0
2008…343.3
2009…316.0
2010…311.3

“The financial sector is slipping in terms of percentage of New York City employment, which now stands at 5.3%. But workers in this field continue to earn almost a quarter of the city’s wages.”

--Top retailers in terms of locations in New York City

Dunkin’ Donuts…341 (2008)…466 (2010)
Subway…335…389
Starbucks…235…256
Duane Reade…216…248
McDonald’s…248…241

--Trade volume into the Port of New York/New Jersey
Imports [Value, in billions]

China…$25.7
Japan…$9.2
Germany…$8.8
Italy…$5.9
India…$5.6
France…$4.7

Exports

China…$3.8*
United Kingdom…$3.4
Germany…$2.8
Netherlands…$2.3
Belgium…$2.0

*This is kind of funny. The total is mostly made up of “castoffs like scrap metal and wastepaper.”

--Incidentally…top ports in the U.S. re TEUs: 20-foot equivalent units

1. Los Angeles…7.8 million TEUs
2. Long Beach…6.3
3. New York/New Jersey…5.3
4.Savannah, Ga. …2.8
5. Oakland…2.3
6. Seattle…2.1

Wall Street History returns in two weeks.

Brian Trumbore



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-09/23/2011-      
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Wall Street History

09/23/2011

Big Apple Bits

Crain’s New York Business recently put out its annual edition of “City Facts” concerning commerce and trends in the Big Apple, which makes it most appropriate for this space.

So following are a few tidbits I gleaned from the issue.

---

--It appears New York will pass the 50 million visitor level this year, a target set by Mayor Michael Bloomberg. And here’s a key: “In 1985, when the Marriott Marquis was built in a seedy Times Square, New York counted 46,000 hotel rooms. The number is now rapidly rising and will soon reach 95,000, says PKF Consulting. Because so many rooms are coming on the market, rates have remained reasonable, which brings in even more visitors.”

--Tourist visitors, in millions

2006…43.8
2007…45.9
2008…47.0
2009…45.6
2010…48.7

--Where visitors come from [2010]:

United Kingdom…1,055,000
Canada…976,000
France…595,000
Brazil…589,000
Germany…528,000

--Annual average occupancy rate at NYC hotels

2007…86.1%
2009…81.8%
2010…85.3%

--Average hotel room rates

2007…$303
2008…$307
2009…$237
2010…$255

--Airlines / New York area airports, passengers in millions for 12-months ended April 2011

United Continental…30.0
Delta Air Lines…20.8
American Airlines…13.9
JetBlue Airways…13.6
US Airways…6.0

--Office vacancy rates in Manhattan.

1987…11.5%
2000….3.7%
2007….6.1%
2011….9.4% [Q2]

--The Great Recession That Wasn’t

1969-77…642,300 jobs lost in NYC
1989-92…369,900
2008-09…134,600 [City has regained about 76,000 since then]

--Construction Spending…in billions

2001…$15.3
2004…$17.8
2005…$20.9
2006…$26.7
2007…$31.1
2008…$31.0
2009…$27.0
2010…$23.7 [forecast]

--Average price for a Manhattan apartment in the second quarter was higher than the price at the end of 2007, and more than twice that for the fourth quarter of 2000.

2000…$688,087
2007…$1,439,909
2011…$1,455,098

[Downtown apartment prices since 9/11 have more than doubled from $686,202 to $1,411,303.]

--New York City Population Composition

White…44.0%
Black…25.5%
Asian…12.7%

--Number of jobs in the financial sector in NYC (broad-based definition….thousands)

2000…369.9
2003…318.8
2007…347.0
2008…343.3
2009…316.0
2010…311.3

“The financial sector is slipping in terms of percentage of New York City employment, which now stands at 5.3%. But workers in this field continue to earn almost a quarter of the city’s wages.”

--Top retailers in terms of locations in New York City

Dunkin’ Donuts…341 (2008)…466 (2010)
Subway…335…389
Starbucks…235…256
Duane Reade…216…248
McDonald’s…248…241

--Trade volume into the Port of New York/New Jersey
Imports [Value, in billions]

China…$25.7
Japan…$9.2
Germany…$8.8
Italy…$5.9
India…$5.6
France…$4.7

Exports

China…$3.8*
United Kingdom…$3.4
Germany…$2.8
Netherlands…$2.3
Belgium…$2.0

*This is kind of funny. The total is mostly made up of “castoffs like scrap metal and wastepaper.”

--Incidentally…top ports in the U.S. re TEUs: 20-foot equivalent units

1. Los Angeles…7.8 million TEUs
2. Long Beach…6.3
3. New York/New Jersey…5.3
4.Savannah, Ga. …2.8
5. Oakland…2.3
6. Seattle…2.1

Wall Street History returns in two weeks.

Brian Trumbore