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Manhattan CRE prices spark a mass exodus of startups to Brooklyn — TechCrunch

Manhattan, once the mecca for technology and innovation on the east coast, is now losing ground to the Outer Boroughs. Massive growth has led to high rents and lack of space for burgeoning businesses. Demand for office space by tech companies increased 177 percent from 2002-2012, representing 25 percent of New York City leases. To that end, the vacancy rate in NYC is just 9 percent, creating supply and demand issues that are grossly impacting rents.

via Manhattan CRE prices spark a mass exodus of startups to Brooklyn — TechCrunch

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