Helping Innovators – Like You – Stay Ahead of the City’s Fast-Moving Office Real Estate Market
Ron Lo Russo, C&W’s President of the NY Tri-State Region, explains why New York is the best city for creative and tech companies.
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News You Can Use: Stay up to date on what’s happening in NYC’s high-tech industry.
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C&W Tech Index:
Closely analyzing the trends impacting the office market, specifically buildings that cater to the technology industry.
Real Estate Matters
- Your office defines and legitimizes your business to investors & customers
- Your office is key to retaining and attracting top talent
- Your office is a place where BIG ideas can be developed and nurtured
- Real estate costs are typically your 2nd highest expense
- Finding the right office space can drain your valuable time
Work with the Best in the Business
…and Get Back to What You Do Best
Successful negotiating requires industry insight, market knowledge and the ability to leverage key factors in your favor.
An experienced real estate advisor like C&W can help you locate the perfect space and secure the best terms.
Evolution of a Startup
Technology companies have a unique evolutionary pattern. The real estate lifespan of a startup is undeniably distinctive and requires a plan at every stage. Growing from a simple idea hatched around a kitchen table to an initial expansion into the corporate office market and, then, evolving into a thriving international headquarters involves executing a comprehensive strategy.
C&W is by your side every step of the way
Discover Key Real Estate Issues in Your Current Stage of Evolution
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Manhattan has become a tech hub for businesses of all sizes – second only to Silicon Valley. This technology-led growth is transforming real estate in the City. Clustering in Midtown South and Brooklyn, TAMI companies are turning these submarkets into the tightest and fastest-growing in the nation.
Technology, Advertising, Media, Information Businesses
With tech sector growth nationwide, certain cities are becoming “tech hubs,” including New York, San Francisco, and Washington, D.C. The New York Metro area has the largest technology workforce in the U.S.
Vital to tech companies, venture capital investment has increased by more than 120% since the end of the recession, climbing to over $20 billion through the first half of the year.
New York is in the midst of becoming a technology mecca and is now second only to Silicon Valley as a favorite of venture capitalists.
Companies from all over the technology world are establishing a footprint in NYC. If Silicon Valley is the brain of the global tech industry, The Big Apple is certainly its creative soul.
TAMI employment remains robust with 66,000 jobs added since 2004. In sharp contrast, financial services employment rose by only 5,300 jobs over the same period.
The creative and technology sectors are redefining Manhattan: In the first half of 2014, leasing by TAMI tenants eclipsed the more traditional office-using sectors and accounted for nearly 40% of total activity.
Media companies dominated TAMI leasing across all three markets in the first half of the year, led by Time Warner in Midtown, Sony in Midtown South and Time Inc. in Downtown.
Rents are expected to rise as TAMI tenants remain active. The TAMI sector currently represents the largest segment of tenants in the market.
The drive to improve collaboration, increase worker productivity, and reduce costs is compelling companies to use space more efficiently.
Tech Companies on the Move
Featured Tech-Friendly Space
31-00 47th Avenue
Long Island City
- Loft-style building;
techy feel; flexible use
- Available units from
- Amenities include retail “Main Street” with multiple food vendors
- Ceiling heights from
- Coalition for Queens in building (tech start-up incubator)
- NYC Wired Certified Gold building
Want to see where your competition is moving? Click on a marker for tenant details.
About C&W’s NYC Technology Group
The technology industry is dynamic and constantly evolving – therefore, the real estate requirements surrounding this sector must also be flexible. The professionals in C&W’s NYC Technology Group share a deep understanding of the unique needs of technology firms, and will work with you to provide strategies and direction that align with your business objectives. Partnering with our team can help you achieve your real estate goals today, while anticipating the growth your firm may need for the future.
As the world’s largest privately held commercial real estate services firm, C&W stands as one of the real estate industry’s most distinguished and accomplished full-service providers. Founded in Manhattan in 1917, C&W has approximately 250 offices in 59 countries spanning six continents and employs more than 16,000 professionals. Our extensive regional and global broker network, coupled with our strategy-driven integrated platform, provides us with a unique competitive advantage.
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RON LO RUSSO
President, New York Tri-State Region
Senior Managing Director
Designed by C&W NYC Marketing Team