Precursor for future demand? Major industries in Manhattan are receiving optimistic funding so far in 2024

  • Office-using industries in Manhattan that have historically relied on venture capital funding have experienced a strong start in 2024.


  • In 2023, these top industries secured $36 billion in venture capital funding. Year-to-date in 2024, they have already garnered $21 billion in VC funding, possibly indicating a surge in future demand for office space.


  • The substantial funding influx early in 2024 is predominantly attributed to the biotech, life sciences, pharmaceutical, and healthcare sectors. These industries have already attracted $13.8 billion in VC funding, with a significant portion, $13 billion, allocated to Bristol-Myers Squibb.

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