Technology is blossoming, and with it comes a shift in the real estate landscape in advanced cities like New York. Huffington Post recently reported on the four ways things are moving.
First, there has been a boom in investments in tech companies. This increase in money leads to a bigger impact on the real estate scene for these companies, including a substantial increase in leasing activity in the last year. The increased demand has led to an increase in rent, as much as 80 percent in some neighborhoods over the last decade.
These companies want more than just an office space. They want a rich environment, made to order, that focuses on company culture and engagement. Landlords are literally knocking down walls to cater to the tech startup clientele.
These startups are finding neighborhoods like the Garment District and the Flatiron district very attractive for their new offices. As they move in, so do new restaurants, bars, and retail stores to provide for the new neighbors.
The employees of these companies are also changing the demographics of their residential areas. They often move to surrounding, less developed areas, infusing them with younger, more educated residents. This infusion creates “hot spots” that, again, bring in new restaurants, bars, and stores.
All these changes require real estate companies that can keep up with the shifting landscape. Leading the luxury real estate services in finding NYC apartments for rent is TOWN Residential. The firm has nine offices in prominent New York neighborhoods, making them highly accessible. At TOWN’s heart is a team of expertly qualified professionals, led by co-chairmen Andrew Heiberger and Joseph Sitt.
The firm’s representatives specialize in residential sales; leasing; and the marketing, sales, and leasing of property developments. TOWN also provides extensive services in New Developments, including market research, planning, and advertising. The Commercial department can also help businesses find investors, tenants find space, and landlord find tenants. TOWN Residential is well equipped for the technology industry’s boom in New York City.