The Real Deal New York

Top tech firms took 1.3 million sf in 2014

Twitter, Amazon and Buzzfeed led the charge, appearing seven times in the top 50
March 02, 2015 03:58PM

Of the top 50 largest lease deals of 2014 in New York City, tech firms were responsible for seven, accounting for a combined 1.3 million square feet of office space.

Amazon, Buzzfeed and Twitter helped lead the charge, according to CoStar Group data cited by Crain’s. Together, tech firms in New York were responsible for an 8.4 percent rise in the total square footage leased in the top 50 largest office deals.

In November, Buzzfeed inked a lease at 225 Park Avenue South, where asking rents were more than $85 per square foot. The same month, Amazon signed a 470,000-square-foot deal at Vornado Realty Trust’s 7 West 34th Street. Meanwhile, Twitter is moving into a new headquarters at 245-249 West 17th Street, where it will occupy 140,000 square feet. 

Technology, advertising and media firms appeared 16 times in the top 50 biggest office deals last year and accounted for 32 percent of all the space that was leased. [Crain’s] — Claire Moses