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Brooklyn Office Developers Chasing Tech Tenants Face a Slowdown

By Tony Seruga

VC financing for New York firms fell 40% in the second quarter
Projects include former Domino Sugar plant, Schlitz Brewery

Developers racing to turn Brooklyn into a thriving technology office market may be finding Manhattan a less-fruitful target for poaching tenants.

Leasing in Manhattan by tech, advertising, media and information tenants — known to real estate brokers by the acronym TAMI — fell in the second quarter to the lowest level in more than three years, according to Cushman & Wakefield. Such firms added just 1.21 million square feet (112,400 square meters) in the borough. That’s a 43 percent drop from the space leased in the first quarter…

Brooklyn Office Developers Chasing Tech Tenants Face a Slowdown

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