Tech Sector Office Guide

Between 2007 and 2011, New York City was the country’s only technology region to post an increase in the number of venture capital deals, and currently ranks second behind Silicon Valley in the country’s list of tech venture capital hubs. With over 600 technology industry-related companies – a list that continues to rapidly grow – Gotham is the perfect place to locate – or relocate – your tech or Web 2.0 business. And BMO is well-situated as a powerful resource in assisting you in finding the perfect office space: in Midtown South’s “Silicon Alley” (our primary focus) or any other submarket that best suits your needs.

New York City – and the commercial real estate industry in particular – has embraced the explosive growth within the technology industry. For example, at 2012’s Internet Week New York, Mayor Bloomberg debuted the “Made in New York City Digital Map,” which provides a geographic overview of the city’s technology industry-related companies. The Digital Map also includes links to job listings and each company’s website, and is updated continuously by the New York City Economic Development Corporation and the Mayor’s Office of Media and Entertainment, which created the map. It’s an excellent tool for technology companies seeking to quickly survey the industry’s real estate footprint, and just one of the many tools available through BMO  in assisting you and your company in your real estate search.

Many landlords have upgraded existing, pre-war building stock with new lobbies, elevator cabs, and other twenty-first century amenities, particularly in neighborhoods that have traditionally been mostly residential (Greenwich Village and Chelsea, for example) as younger employees want to live closer to the office. Indeed, changing demographics within all companies – not just technology companies – are changing traditional notions of Manhattan submarket supremacy. BMO can help your technology company navigate these murky – yet dynamic – commercial real estate waters.

We suggest starting with a review of this comprehensive, long-form BMO article, describing the top five issues in leasing commercial office space in Manhattan specific to tech companies.

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