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The Tech Start-Up Boom in Midtown South

It recent years, technology start-ups have leased hundreds of thousands of square feet of vacant New York City office and loft space. These social media, web design, online gaming and Internet marketers have a strong preference for Chelsea, The Flatiron District, Madison Square and globally Midtown South. Now being well established, they have changed the identity of these neighborhoods, giving them a young and energetic vibe.

Strong Preference for Industrial Loft Space

Style being a key factor when they select a space, tech companies especially value former industrial buildings, properties which offer very desirable features: open ceilings, brick walls, large windows with an abundance of natural light as well as concrete or wood floors. These industrial chic spaces are conducive to the collaborative work environment that fits with the creative team members accustomed to working together in an informal but well structured environment.

The spatial needs of these tech businesses are specific. They typically include a reception area, conference rooms, open space for cubicles or private offices for staff, possibly a media room and dedicated server room. And of course a kitchenette and small dining area. Not to mention that the space has to offer plenty of well-located electrical outlets and access to high-speed Internet. The speed, capacity and cost of connectivity offered by a landlord in their building is no small matter.

Featured Listings

  • Loft Style Office with Industrial Chic in West 29th Street 231 W. 29th Street, Partial 4th Floor Loft Loft style space located just a short walk from Penn Station. Beautiful creative space with 11' ceiling height and polished concrete floors. The current is condition is a white box, but the landlord will build to suit. Perfect space for tech companies, PR or advertising agencies, architectural firms or any creative user seek open plan space with an industrial feel.  Office
    15400 231 W. 29th Street, Partial 4th Floor Loft
    231 West 29th Street New York NY 10001
  • Great Views of Union Square in Broadway 851 Broadway 2,750 Square Foot double corner space with views of Union Square Park. Currently, raw, ownership is planning to pre-build  with 2 conference rooms and a bullpen that will accommodate up to 22 cubicles. Management will install a new tenant controlled package HVAC unit. Existing concrete floors will be sanded and polyurethaned.Ownership seeking a 7-10 year lease commitment. A brand new building lobby has recently been installed. The property has been upgraded with new elevator cabs and building mechanicals. Office
    18333 851 Broadway
    851 Broadway New York NY 10003
  • Bright Corner, Move In Ready in Varick St. Commercial Office Rentals at 181 Varick Street Gorgeous Tribeca industrial style office space for lease a in former printing building on Varick Street. The space features polyurethaned concrete floors and, 12' ceilings. Exposures are South and East, with the space getting plenty of natural light and open views. Cooling is via tenant controlled HVAC, with high end rounded ductwork along the ceilings.Asking rent for this 2,267 Square Foot Hudson Square is $11,712/month. Additional charges are the cost of electricity plus  annual rent escalation (typically 3% plus tenant's proportionate share of real estate tax increase).Located in a top notch, 329,000 Square Foot, class B commercial building constructed in 1930. Management is on premises. The same group of owners have operated the building since the 1930s.Locate your business in young, hip and trendy Tribeca. This neighborhood enjoys all the advantages of SoHo but without the crowds.To learn more about leasing this space call Alan Rosinsky at (212) 447-5403.  Office
    11713 Commercial Office Rentals at 181 Varick Street
    180 Varick St. New York NY 10014
  • Full Terrace-UNIQUE in Third Avenue Fantastic Third Avenue Office Rental with Full Terrace Office rentals in Midtown Manhattan less than 2,000 Square Feet are a rare commodity today. Often they are dark, expensive, have high loss factors and are not in a choice commercial building.This 1,800 Square Foot office space is an exception, a rare anomaly in a prime class A, modern office building located steps from a Grand Central Station. This office has a USEABLE TERRACE that is at least 300 Square Feet!!!  No other small space in Manhattan has this amenity.Furthermore, the landlord, for the right tenant (and the right deal) is willing to completely rebuild this space to your exact specifications.  Or if you are a law firm, an accounting firm you can choose to keep the existing installation which consists of three offices and an open area and a small wet pantry. All offices are windowed and have excellent views.This 35 story building was constructed in 1931 and has an extremely modern lobby and all the full amenities offered by a Class A building. The property is owner occupied. Tenants enjoy 24/7 access.If you or your staff commute into Grand Central Station, you can not select a better location for your office lease. You are not more than a five minute walk to the terminal.To learn more about this Grand Central Station gem call Alan Rosinsky at (212) 447-5403 Office
    8850 Fantastic Third Avenue Office Rental with Full Terrace
    708 Third Avenue New York NY 10017
  • Best Tech Space Value in Flatiron! in West 21st Street 19 West 21st Street Tech Loft 2,850 Square Feet of prime office loft space on West 21 Street. This space has a very reasonable asking rent of $45.00/S.F. ($10,687.50/month) well below comparable buildings in Chelsea and other Midtown South neighborhoods.The layout consists of a large open area, with a windowed conference room, two interior offices and a wet pantry.  The bullpen is large enough for 15-20 cubicles. The ceiling height is 11' and flooring is hardwood. Despite the fact that this loft space is facing another building, there are so many over sized windows that there is an abundance of natural light.This Midtown South office rental is arguable the best value in Chelsea. Not only is the price per Square Foot low, but the loss factor is well below average and the space is configured in an extremely efficient manner. This unit is perfect for a creative or technology company that is seeking an open plan with a few offices.The building features an elegant, attended lobby which has recently been upgraded. All corridors and bathrooms have enjoyed a recent upgrade.  The building has 3 passenger and two freight elevators.Electricity is billed as sub-metered. There is an $190.00/month charge for water, sprinkler and guard service.To learn more about this Flatiron office rental, call Alan Rosinsky at (212) 447-5403.  Office
    14438 19 West 21st Street Tech Loft
    19 West 21st Street New York NY 10010
  • Fabulous Penthouse Office in East 42nd Exceptional Grand Central Penthouse Loft Rental Fabulous office for lease near Grand Central Station. Truly unique space. 14' ceilings, skylights. This loft rental is flooded with light. Space set up with two large rooms, wet pantry and a private bathroom. Opportunity to rent a truly unique Midtown Manhattan penthouse loft.2,500 Rentable Square Feet. Asking $50.00/S.F. ($10,416/month). 3-10 year lease term. Currently this property consists of mostly an open plan. Landlord will consider substantial improvements for a credit worthy tenant. This space would work very well for an architect, software company, graphic design firm, Internet or tech company, or any business user seeking a cool, bright open plan environment with a cool vibe.Please note that access to this penthouse rental is through one flight of stairs.The lobby of this boutique office building is attended Monday thru Friday. Tenants have 24/7 access to their space via a key/card  system.For further information regarding this listing call Alan Rosinsky at (212) 447-5403. Office
    10417 Exceptional Grand Central Penthouse Loft Rental
    16 East 42nd New York NY 10016

Leasing Challenges

Metro Manhattan has encountered key issues when negotiating office and loft leases on behalf of technology firms.

Keeping your Security Deposit to a Minimum
While many of these firms have strong balance sheets, young companies and start-ups often have not yet achieved profitability. In these circumstances, negotiating the minimum security deposit is a real challenge.

Planning for Expansion
Some of these tech firms take off quickly. They can quickly hire staff, outgrow their offices and quickly require expansion space. So it is essential, if possible, to negotiate an expansion option in the lease: that allows for a move to larger offices within the building. But since landlords do not always agree to an expansion option, the sublease clause in the lease is critical: it allows you to dispose of your space and move elsewhere.

A New Wave of Tech Firms On The Way

As we all know, Google (111 Eighth Avenue), Facebook (770 Broadway) and Twitter (249 W. 17th St) are tech industry icons that all have office space in Midtown South. Their presence has attracted hundreds of start-ups to the area.

Now innovative industries such as virtual currency (Bitcoin), bio-technology and 3D printing are spawning a 2nd wave of start-ups. And these revolutionary firms, which will change the face of the world, are competing to lease the best New York City office rentals.

When Should You Call Metro Manhattan Office Space?

Typically, technology start-ups rent their first space in an executive office suites. Since these shared environments offer very short leases, you don’t need to commit for more than a few months. Additionally and they are cost effective for a staff that does not exceed three individuals.

Once your company employs more personnel you are going to save money by renting space directly from a landlord. At that point give a call at (212) 447-5403.

Lease a Hip Industrial Space for Your Tech Start-Up

Metro Manhattan Office Space has extensive experience negotiating leases on behalf of Internet marketing, computer programming, social media and other technology firms. We have represented established companies as well as start-upsContact us here to learn more about the hippest office and loft space in Chelsea, The Flatiron District, Union Square and NoMad.

 

 

 

 

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