New York Area the Nation’s Most Promising for Film, TV Production: CBRE

At an uncertain time for television and film production nationwide as projects scatter across the globe and capitalize on massive tax benefits and other financial incentives, the New York tri-state area is the only production market in the U.S. that is clearly on the upswing, Commercial Observer has learned.

According to a new report from CBRE, exciting metrics for the area’s production community show that spending on film and TV production increased 21 percent in 2025 over the previous year. Plus, soundstage space increased by 43 percent since 2020 (with more on the way), and leasing activity in Manhattan for film and TV production firms reached 755,000 square feet in 2025, the highest total since 2021.

The report notes that in the wake of industry-shattering strikes by the writers and actors unions in 2023, the New York tri-state area is the only production market in the U.S. that has seen production starts recover to pre-2023 levels.

“The region is emerging as a clear leader with a new wave of major studio investment and dedicated production partnerships that are reshaping the market,” Anthony Jasenski, CBRE Americas’ film production studio practice leader, said in a statement to CO. “This report underscores New York’s staying power even amid industry consolidation and shifting production strategies.”

Drivers of this success include New York and New Jersey offering a combined $1.2 billion in tax incentives in 2026, as well as the increase in regional soundstage space recently introducing an influx of “modern, purpose-built facilities that allow the region to capture more stage-based, high-value production,” according to the report.

Several major new studios have either opened in the area over the past year or so or are preparing to in the years to come. 

Sunset Pier 94 Studios in Manhattan, a collaboration between Vornado Realty Trust, Hudson Pacific Properties and Blackstone Real Estate, opened in January on the borough’s west side offering 232,000 square feet of leasable space, including six purpose-built soundstages and 145,000 square feet of production support space. Paramount Television Studios leased two soundstages there to produce season two of “Dexter: Resurrection.”

In New Jersey, meanwhile, at least five major studios are on track to open around 2027 or 2028, including a 500,000-square-foot facility in Fort Monmouth that will be used by Netflix, and a 1.6 million-square-foot production campus in Bayonne that will have Paramount as its anchor tenant. 

“The tri-state film industry has proven its resiliency in recent years with new soundstage inventory coming to market through the COVID-19 pandemic, the 2023 Hollywood labor disputes, and reductions in content production by domestic streaming services and studios,” the report read, noting that production in North American markets overall sits at around 75 percent of its pre-strike totals.

Despite this, the report also said that “the New York tri-state region has a competitive advantage through a strong resident talent population, generous tax incentives, and a rapidly expanding soundstage inventory.” 

In addition to the scenic and historic nature of New York City — which make its neighborhoods desirable locations for filming — and the abundance of more scenic areas outside the city, the industry also has access to around 52,000 qualified production professionals in the area.

Longtime movie capital Hollywood, Calif., and recent production strongholds such as Atlanta, Ga., have shed projects of late due to cheaper options overseas, yet all indicators show the New York area is strengthening its production base in a way that continues to attract the industry.

“The New York area has been a leader in the post-strike recovery, with production 47 percent above pre-strike levels in Q4 2025 on a four-quarter rolling average basis,” the report read. “The tri-state area was the only major North American production market to exit 2025 in a better position than 2023, with markets from California to Georgia seeing between 25 percent and 40 percent fewer production starts.”

The report noted that FilmLA, the official film office of Greater Los Angeles, began tracking scripted productions by market in 2021. Since then, the report read, the New York-New Jersey area has maintained a consistent 10.5 percent to 11.5 percent market share. Over that same period, Los Angeles’ share of production has fallen from 22.5 percent to 18.3 percent. 

It’s worth noting that while this puts the New York market second — Georgia is third, with a 9.8 percent market share — the United Kingdom’s market share has increased over this time from 4.1 percent to 8.8 percent.

Given the tri-state area’s many advantages — including scenic locations, a current and soon-to-be-expanding abundance of modern soundstages, and a region filled with experienced professionals likely facing the toughest employment squeeze of their careers — prospects for the tri-state region seem promising in all areas of production, from streaming shows and mobile phone content to major tentpole films alike.

“An expanding office presence by streaming platforms, independent production companies, and a new generation of soundstages are positioning New York’s media landscape for the next generation of production,” read the report.

Larry Getlen can be reached at lgetlen@commercialobserver.com.