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Streaming Content Boosts Demand for NYC Film Studio Space
As demand for streaming video content has reached new highs, so has the need for high-quality film studio space, according to a new CBRE report. With 2.6 million square feet, New York City is one of the largest film markets in North America and nearly 60% of the production space is owned by the region’s five largest studios.
“Brooklyn and Queens boast large soundstage facilities that have been purpose-built or are in large converted industrial facilities,” said CBRE’s Rocco Laginestra. “As these neighborhoods have become space-constrained, studios are looking for alternatives in the Bronx as well as New Jersey, Long Island, southern Connecticut and the Hudson Valley.”
Early in 2021, Apple TV+ inked a 75,000-square-foot lease for production space at Kaufman Astoria Studios, along with an additional 15,000 square feet of office space. Wildflower Studios and Netflix are also building purpose-built studio complexes in Queens and Brooklyn, respectively.
