World Cup scouting report: Matches come to New York, a global gateway city

CoStar News examined each FIFA World Cup host city and what the tournament June 11-July 19 could mean for local infrastructure, real estate, tourism and economic development long before the first soccer match is played. Find links to all the markets here.

FIFA World Cup action is coming to metropolitan New York, home to the nation’s largest city, its biggest commercial real estate market and one of the world’s most recognizable urban economies. Its deeply international population has long made it one of the country’s strongest soccer markets.

The region has long played an outsized role in global finance, immigration, culture and real estate development. In 2026, it will return to the global spotlight as host of the FIFA World Cup final. Industry professionals project the event will likely drive New York’s hotel rates to record highs.

Here is CoStar News’ scouting report:

New York City traces its roots to the 1620s, when the Dutch founded New Amsterdam on Manhattan Island, making it one of the oldest major cities in the United States.

Today, it is the most populous city in the country, with about 8.5 million residents as of July 2024, and anchors North America’s largest urban economy. The city’s five boroughs span roughly 300 square miles of land and make New York more densely populated than any other major U.S. city.

The broader metropolitan area stretches across New York, New Jersey and Connecticut and generates approximately $2 trillion in gross metropolitan product — about 9% of the U.S. economy — according to the New York City Economic Development Corp.

New York’s skyline reflects more than a century of vertical construction, zoning shifts and capital concentration as a global hub for finance, media, fashion and real estate.

Early landmarks such as the Flatiron and Woolworth buildings gave way to art deco icons like the Empire State and Chrysler buildings, followed in recent decades by a new generation of supertall towers. These include One Vanderbilt and the ultra‑slender residential skyscrapers along Billionaires’ Row, led by Central Park Tower, often billed as the tallest residential building in the world.

The city’s tallest structure is One World Trade Center, which rises 1,776 feet in Lower Manhattan. Beyond its role as an office tower, it stands as a symbol of the city’s resilience after the Sept. 11, 2001, terrorist attacks.

Zoning rules governing setbacks, air‑rights transfers and landmark protections have shaped the city’s uneven skyline, producing a distinctive mix of historic masonry towers and modern steel‑and‑glass high‑rises.

New York City hosts more Fortune 500 headquarters than any other U.S. city, spanning finance, media, technology and consumer sectors.

Major companies headquartered in the city include JPMorgan Chase, Citigroup, Blackstone, BlackRock, Goldman Sachs, Morgan Stanley, Verizon, Pfizer, MetLife and American Express, as well as media firms such as News Corp. and Bloomberg. Brands such as Macy’s, Estée Lauder and Coach also call New York home.

While tech giants such as Amazon and Google are headquartered elsewhere, New York ranks among their largest office markets. This corporate concentration has long supported demand for trophy office space, housing and transit‑oriented development.

New York is the nation’s largest commercial real estate market, spanning all major property types, including office, retail, hotels, industrial, film studios and self‑storage.

The office market has recovered faster than the national average, driven by a flight to quality as tenants gravitate toward newer, transit‑adjacent buildings with appealing amenities. Even so, the recovery remains uneven: Older commodity offices continue to struggle, while newer or renovated towers attract well‑capitalized tenants. That dynamic has spurred a wave of office‑to‑residential conversions as owners reposition obsolete stock.

The city’s multifamily market remains among the most expensive in the United States. As of early May, the average market asking rent has reached a record $3,581 per unit — about double the national average — while the vacancy rate of 2.92% is about a third of the U.S. rate, according to CoStar data.

Retail has also outperformed the national market, buoyed by rebounding tourism, rising foot traffic and New York’s role as a showcase for flagship and experiential stores.

Manhattan retail availability fell to a record low of 10.8% in the first quarter, according to Cushman & Wakefield.

New York’s hotel market also outperformed the U.S. average. As of early May, the average daily rate over the past 12 months has risen to a record high of $336, more than double the U.S. average of $161, CoStar data shows. The 12-month hotel occupancy rate of 84% also far outpaces the U.S. average of about 62.5%.

Metropolitan New York is set to host eight World Cup matches, including the final, which organizers expect to draw more than 1.2 million visitors and generate $3.3 billion in economic activity, supporting more than 26,000 jobs.

Officials had projected a surge in hotel demand, higher room rates, increased short‑term rentals and elevated spending across transportation, food, retail and entertainment throughout the New York–New Jersey corridor. However, there have been signs that ticket sales and hotel bookings were lagging expectations as of early May amid criticism over high prices and transit costs, according to media reports.

Matches will be played at MetLife Stadium in East Rutherford, New Jersey, just across the Hudson River from Manhattan.

Opened in 2010, the 82,500‑seat venue is home to the NFL’s New York Giants and Jets and has hosted major events including the 2014 Super Bowl, WrestleMania, the Copa América Centenario final and large‑scale concerts. During the tournament, under FIFA naming rules, it will be known as New York New Jersey Stadium.

With more than 200 languages spoken across the region, metropolitan New York ranks among the world’s most diverse soccer markets, shaped by generations of immigration.

That global fan base is set to converge locally in 2026 through matches, watch parties and cultural events. Participation surged after the 1994 World Cup, and officials expect a similar boost this time. Reflecting soccer’s rise, New York City FC is developing a privately financed, 25,000‑seat stadium in Queens, set to become the city’s first soccer‑specific professional venue.

The stadium is set to host several of the sport's traditional national team powerhouses in group round matches, including Brazil, France, Germany and England.