Downtown Alliance president Jessica Lappin Downtown Alliance president Jessica Lappin

NEW YORK CITY—Since the financial crisis, the makeup of businesses in Lower Manhattan has become much more diverse with an influx of technology, advertising, media and information firms (TAMI) taking away market share from more traditional finance, insurance and real estate (FIRE) sectors.

In the past 10 years, FIRE’s market share of occupancy in Lower Manhattan has fallen from 55% in 2008 to a little over 35% today, according to the third quarter Lower Manhattan Real Estate Report released today by the Alliance for Downtown New York.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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