New York’s tech boom has been a boon for the city’s commercial real estate market, as well, especially unusual spaces not typically associated with Class-A office space—look no further than Google’s astronomical purchase of 111 Eighth Avenue and the swells in Midtown South.
Downtown Brooklyn is looking to capitalize on the growing demand for a certain type of office not typically found on the avenues while also providing a bridge to techies as they begin to mature and their needs evolve. A team of local business groups hopes to create the Brooklyn Tech Triangle. The idea is to tap into the successes of Dumbo (Silicon Beach!) and the Brooklyn Navy Yard (dozen of firms are on the wait-list to get in) to create a whole new alleyway for Silicon Alley that connects these hot hoods with the still somewhat dowdy (Shake Shack!)
“We’ve seen an explosion of tech gather along the waterfront,” Tucker Reed, president of the Downtown Brooklyn Partnership, told The Observer, “so much so that they’ve run out of space.”