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The Year of the Millennial

Last night, the President’s Farewell Speech lauded millennials. “You know that constant change is not something to fear … you’ll soon outnumber us, and I believe as a result the future is in good hands.” “The Real Deal” did an excellent summary of how millennials are revolutionizing real estate, especially in New York City. 1 in 3 American workers are millennials who spend 600 billion a year. Beyond co-working space, which is now included in some new residential properties, the millennial filled TAMI sector prefers retrofitted older buildings, shaking up the Class B market in Midtown South. A driving force in Rental Development, which must include large communal spaces filled with amenities, they tour on their phones before ever speaking to an agent. Co-living spaces, where one rents individual bedrooms have emerged. Hospitality companies offer small (as in Jane style 50 sq. ft. yacht-cabin size) rooms, but with extraordinary clubs and common spaces. To appeal to millennials, NYC Retail has gone beyond the suburban big brands, with pop-up stores and display spaces where you buy online.

About the SelectLeaders Job Barometer

The SelectLeaders Job Barometer, published since 2006, is the foremost survey of employment opportunities, trends, and hiring practices in the commercial real estate industry.

About the SelectLeaders Real Estate Job Network

SelectLeaders powers the Career Centers for 9 premier real estate industry Associations (whose members control or direct 90% of commercial real estate). Jobs are from all sectors and all levels with 29% paying over $100,000. SelectLeaders Job Network offers unequalled access to the Real Estate community. To learn more visit or visit our Job Network Career Centers: BOMA, CCIM, CREFC,, NAIOP, NAREIM, NAREIT, NMHC, PREA, Project REAP, ULI, NRHC

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