Report | New York Tech Office Outlook - 2015
Venture capital funding, currently at its highest level since 2000, continues to pour into New York tech companies. Largely, this is due to the opportunity for innovation between tech and the city's bedrock institutions of finance, fashion, media and advertising.
Meanwhile, New York State officials and city leaders are also showing their support for the tech sector with incentives designed to attract businesses to the market.
However, the city's evolving tech scene comes at a cost. Asking rents in Midtown South—the preferred submarket for tech companies—are at record highs and large-block availabilities are limited. Some firms are now looking for space elsewhere in Manhattan or the outer boroughs, and others are considering short-term options at coworking spaces.
Learn more about current market conditions across New York—and how we expect them to shift in the coming months—specifically as they relate to the tech industry.
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