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DiogenesLamp: "Not just New York.
I just say "New York" as a shorthand.
It's actually the corridor of power that stretches from Washington DC, through New York, and up to Boston."

This source says the Northeastern Megalopolis produces 20% of US GDP, from 17% of the US population on 2% of its land.
My own calculations say closer to 15% of GDP, (all depends of definitions), but regardless, using 17% of population to produce even 20% of GDP does not suggest grossly "out of whack" numbers.

Further, there's no particular reason to lump everybody living between Washington, DC, and Boston as just one big megalopolis, and as soon as you start to consider those metropolitan areas individually, then they are no more intimidating than many other similar all over the United States.

on 2% of its land.

So there's the answer to that question. 2% of the land accounts for about 4 trillion dollars per year. They must grow ambrosia there or something.

And what does "Washington DC" produce to make it such a large part of GDP? While we're at it, i'm not recalling having used too many products manufactured in New York City. Sure, i've seen products manufactured in New York State, but not so many from New York city itself.

What exactly are they doing in New York city that "creates" so much money for them to spend?