An Untapped Market: Lower Manhattan’s Young Professionals
The Alliance for Downtown New York is pleased to release a residential survey highlighting Lower Manhattan as a neighborhood of choice for young professionals in New York City, as well as ways to capture residents’ robust appetite for dining out and entertainment.
Major findings include:
- Over 30,000 people between the ages of 18-44 live in Lower Manhattan - more than in the East Village and Downtown Brooklyn and on par with Williamsburg and Jersey City;
- Young residents go out for dinner, drinks or entertainment on average 16 days a month, spending nearly $1,000 per month on dining and entertainment each month;
- Despite recent growth in dining and entertainment options, more than half of the spending potential leaves Lower Manhattan;
- Survey results indicate areas of opportunity for how current and prospective businesses can benefit from this young, engaged audience, if they can adapt to meet their needs.