RealDeal
From ride-sharing apps to fantasy-sports operators to e-commerce retailers, the city’s roster of office tenants looks a lot different these days than it did just a few years ago. Indeed, venture funding and billion-dollar valuations are increasingly propelling fledgling businesses with niche services into the market.
And this new batch of tech start-ups is increasingly claiming sizable New York City office spaces to accommodate its accelerating growth.
In many cases these companies are inking deals for new space shortly after securing millions in venture funding from blue-ribbon investors.
Fantasy-sports startup FanDuel, for example, signed a 41,000-square-foot lease at Rockrose Development’s 300 Park Avenue South in September, just two months after getting a $275 million cash infusion from Google and Time Warner, among others, in a Series E funding round.