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Unlikely Contender Draws Office Tenants from Midtown South

Companies that had been based in the thriving Midtown South neighborhood of Manhattan have relocated roughly one million square feet of office space to Downtown Manhattan so far in 2017. Spotify and Macmillan are just two of the most famous Midtown South companies to relocate to the Financial District.

“Midtown South-based companies represent the majority of relocations to Downtown in 2017 — a testament to Lower Manhattan’s thriving culture and relative value,” according to the researchers at JLL.

Of all the relocations to Downtown in 2017, 74% of the companies were in the technology, advertising, media and information (TAMI) sector. These new companies are helping to make the economy Downtown more diverse and less reliant on finance — which is helping to make Downtown even more attractive.

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