Space Invaders

Companies All Want to Rent Next to the Cool Kids in Silicon Alley

Look at her preen. (Photo: flickr.com/aka_kath)

Pop quiz: In which of America’s central business districts will you have the hardest time finding an office? Answer, according to a report from Bloomberg News, based on data from Cushman & Wakefield: The area between 30th St. and Union Square, a.k.a. Midtown south, a.k.a. Silicon Alley. Color us utterly unsurprised.

The article informs us:

The area known as midtown south has replaced Midtown as the most desirable location for companies to lease space, the brokerage said. Midtown south… has the lowest vacancy rate of all central business districts in the nation, at 6.1 percent, according to Cushman & Wakefield.

We also feel like it’s worth floating the possibility that proximity to the original Shake Shack might be a consideration.

Meanwhile, in Q2, rents for Midtown proper were down for the first time in two years. Yeah, no wonder: Have you tried finding a Starbucks without a twenty-minute-long line of tourists around here lately? Good luck.

Office Space

Tech and Media Companies Accounted for 28 Percent of Manhattan Office Leases Last Year

205 Hudson St. via Trinity

Trinity Real Estate, a division of Trinity Church located near the World Trade Center site, has had a pretty good run. In the past 14 months, Trinity saw occupancy rise from 84 percent to 92 percent and watched rents ratchet up 26 percent. According to Crain’s, a big part of that growth is thanks to tech companies, or at least tech-driven startups like e-commerce site One Kings Lane, which is co-founded by Mark Pincus’s wife Alison Pincus, and moved into 205 Hudson St. in May.

Trinity owns 18 former industrial buildings in the Hudson Square area and startup types, it seems, dig the “loftlike spaces, with large windows and big floor plates.” But it’s not just Trinity:

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