In a transaction that highlights the continued attraction of Times Square for tech industry firms, the software company 10gen is already exercising its option to expand at the historic former New York Times headquarters building at 229 West 43rd Street.
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87 percent of the leasing transactions in the Times Square submarket over the past 18 months have been tech deals. Now Yahoo! is about to join the fray.
As rents rise in Midtown South and flexible office arrangements become harder to come by, an increasing number of technology companies are looking north: Felix/CityGrid Media is the latest to head back across 34th Street.
The software company 10gen is on the move from the historic, tech industry-heavy 568 Broadway to the former New York Times building at 229 West 43rd Street.