NYC Tech Boom Changes Face of Real Estate in Great Way

New York City is gigantic and modern and changes with its residents; this metropolis goes with the flow. At the moment, that catalyst is called the NYC tech boom and explosive it is!

The Huffington Post took an in-depth look at the issue and found these impressive developments:

First, New York City is quickly becoming a high-tech metropolis as capital flows into the city. HP reports that the tech industry was responsible for 19 percent of all leasing activity in 2014–much higher than was expected.

NYC neighborhoods like Flatiron, Union Square and Chelsea have been seeing tech start-ups infiltrate their areas. The tech companies are inhaling almost half of all bids in commercial real estate, and with a shrinking supply and record high prices, the competition is fierce.

NYC luxury real estate, which is available through Town Residential understands this boom better than most; the luxury real estate services firm has been in strong demand for high-end living in residential sales; leasing; and sales and leasing of property developments. These experts are recognizing the new face of real estate in the Big Apple and the impact the tech industry is carving out.

HP cites that design of modern office space is another real estate game changer. For those employed in high-tech, creative working space is key. To attract the right talent, most tech start-ups go for the gold by developing the perfect office concept. That means requesting a landlord knock down walls, expose brick, offer high ceilings or loft spaces, and so forth.

The third way NYC tech is changing the game is by rejuvenating old neighborhoods like the famous Garment District. These days, one is apt to see more tech employees walking around there than the master cutters and pattern makers who used to crowd the sidewalk along 38th Street at lunchtime. New restaurants, bars and retail stores are attracting new tenants.

New York Town Residential sees the significant impact one industry alone is having on housing and lifestyle in NYC. The company believes these are exciting days for New York City with its real estate landscape morphing into modern times.

Lastly, HP has discovered the young, very educated tech employees are also moving into areas of the city that offer for more value and space for their dollar. This changes the demographics of a neighborhood, creating hot spots of new businesses and developments.