{"id":1004078155,"date":"2013-07-01T06:47:50","date_gmt":"2013-07-01T14:47:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004078155"},"modified":"2022-12-08T13:55:23","modified_gmt":"2022-12-08T21:55:23","slug":"tech-firm-triples-hq-with-new-silicon-alley-lease-in-nyc","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tech-firm-triples-hq-with-new-silicon-alley-lease-in-nyc\/","title":{"rendered":"Tech Firm Triples HQ with New Silicon Alley Lease in NYC"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/07\/115-East-23rd-Street.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004078158\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/tech-firm-triples-hq-with-new-silicon-alley-lease-in-nyc\/115-east-23rd-street\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/07\/115-East-23rd-Street.jpg\" data-orig-size=\"420,679\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"115 East 23rd Street\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/07\/115-East-23rd-Street.jpg?w=420\" class=\"alignleft size-medium wp-image-1004078158\" title=\"115 East 23rd Street\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/07\/115-East-23rd-Street.jpg\" alt=\"\" width=\"185\" height=\"300\" \/><\/a><\/p>\n<p>Midtown South continues to gain steam as Manhattan&#8217;s tech hub, and a new startup just staked its claim to office space in the Silicon Alley neighborhood of the submarket with a new lease agreement. PlaceIQ, a targeted intelligence solutions provider, is relocating from its home on W. 30th St., to a full floor in the approximately 74,000-square-foot building at 115 E. 23rd St., effectively tripling its headquarters space to 6,140 square feet.<span style=\"font-size: 13px;line-height: 19px\">\u00a0<\/span><\/p>\n<p>First Pioneer Realty Inc. represented the owner of 115 E. 23rd in the transaction, and ABS Partners Real Estate L.L.C. stood in for PlaceIQ. It&#8217;s a property with the features that attract the tech crowd. Originally built in 1912, the 12-story tower features high ceilings, an open floor plan and, with a train within a block&#8217;s reach, easy access to public transportation.\u00a0 PlaceIQ is setting up shop on the seventh floor.<\/p>\n<p>Grabbing a spot in Midtown South is growing increasingly challenging; the numbers tell the story. The occupancy level in the submarket was just 5.1 percent in the first quarter of 2013, according to a report by ABS, and the direct asking price for space was just over $51 per square-foot.<\/p>\n<p>&#8220;The continued high demand for office space in Midtown South has led to a dramatic shift in the market to historically high rents and low vacancy\u00a0rates,&#8221; Douglas Regal, managing director with ABS, told <em>Commercial Property Executive<\/em>. &#8220;This combination of factors has created a very challenging environment for early-stage startups to secure affordable space, and in many cases spurred exploration of alternatives neighborhood such as Lower Manhattan and the Garment Center, where better value propositions exist.&#8221;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Midtown South continues to gain steam as Manhattan&#8217;s tech hub, and a new startup, PlaceIQ, just staked its claim to office space in the Silicon Alley neighborhood of the submarket with a new lease agreement.<\/p>\n","protected":false},"author":969,"featured_media":1004078158,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,11,1600,21742,21747,21787],"tags":[],"class_list":["post-1004078155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-midatlantic","category-new-york","category-latest","category-office","category-technology"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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