Lease Beat

10gen Expands at Former NYT Building

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10gen is expanding its presence at the former New York Times Building with an additional 20,432 square feet across the 5th floor, bringing its total occupancy to nearly 50,000 square feet.

The deal comes seven months after the growing software and database company signed a six-year, 29,391-square-foot lease with contiguous expansion options in December 2012, which includes Read More

Midtown 2013

New Tricks for Old “Times” Building

Former AIG Head Reportedly Considering New York Times Takeover

When the information database developer 10Gen was on the hunt for office space last year, it initially focused its search around Midtown South’s tech-industry hotbed. In December, the company inked a deal for 29,400 square feet at 229 West 43rd Street, the old New York Times headquarters.

The deal suggested a shift among youthful companies that for years had sought nontraditional loft-like offices in and around the Flatiron District, Union Square and Soho.

A post-recession spike in activity and rents was welcome, but even more encouraging was the fact that cutting-edge tech and new media firms were generating significant activity in the prime neighborhood so often associated with starchy law firms and corporate users. The fact that the former headquarters of an archetypal old media giant was drawing new media (and tech) blood was an intriguing development. Read More

The Year in Review

2012: The Year Tech Invaded NYC Real Estate

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This past February, 10Gen, developer of the computer system database MongoDB, was in search of new office space, specifically in tech- and media-rich Midtown South.

The company needed a large open layout for its workers, with an option for more space to allow the firm to grow—plus an option to terminate. Unfortunately, the ultra-tight market Read More