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.
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.
A key source of support for tech companies, venture capital investment has increased by nearly 45% since the end of the recession, reaching nearly $30 billion in 2013.
TAMI companies are attracting investment dollars at the fastest rate in years. Notably, D.C. and Texas saw the highest increase in funding between 2009-2013.
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 continues its upward climb, increasing by nearly 76,000 jobs since 2004. In comparison, financial services employment has risen by only 3,800 jobs.
New York City is in the midst of one of the biggest creativity booms in its history. As activity in traditional market leading industries slows, tech appears to be back and bigger than ever.
In the first quarter of 2014, the media industry was the dominant space lessor in Manhattan, with major leases signed by Time Warner and Sony.
As TAMI tenants continue to drive the Manhattan market, demand for office space in all NYC submarkets will increase over the next year, sending rents higher.
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
One Soho Square
161 Avenue of the Americas & 233 Spring Street
- Three ALL GLASS penthouse floors,
20,000 sf each
- Spectacular views
- Oversized terraces
- Half-acre roof-top garden
- 300,000 sf available
- 140,000 sf contiguous block available
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