New York's maturity as a tech scene includes an increased demand for a neighborhood long snubbed by startups: midtown
that developer who grew up with the Mayor Bloomberg-era New York tech boom is likely now of an age where family is either the reality or on the horizon. Suddenly, that 5th floor walk-up off the L train doesn’t seem quite as charming.
For Scott Simonelli, CEO and cofounder of audio analytics platform Veritonic, Grand Central neighborhood was the obvious choice. All but two of his 11 team members live in Connecticut, New Jersey or Westchester, but as they are are actively hiring, location gives them a competitive advantage for attracting a wider set of candidates. “If you’re 21 or 22 years old and it’s your first job, there’s a lot of energy here;” and for the commuters, “You can sell a train ride.
“The more tenured engineers that have kids and could care less about ping pong tables,” says Alex Dancho, Director of Engineering Operations at Newsela, which also recently moved its offices to midtown. As a new father and Connecticut resident, Dancho adds, “I wouldn’t take a job that’s any more of a commute than what I have right now.”
offers more than 70 million square feet of office space inventory, with an additional 2.6 million square feet in construction. Grand Central’s 11% vacancy is still above the city’s 8% average.
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