The relocation sub-market in Manhattan seems to be alive and well, according to numerous relocation specialists with whom we’ve spoken. They note not having been this busy in over five years. Much of the activity appears to be coming from larger corporations looking to relocate their overseas professionals to the Big Apple, mostly via lateral moves.
We are hearing that upwards of 40 employees per company will soon be joining the ranks of apartment hunters in the city, and will have to face the realities of the extra paperwork, increased security deposits and months of prepaid rent that come along with being a foreign national with no US credit history. Sources tell us that most of these executives are coming from the financial and media/advertizing industries. Who said Wall Street was dead?
