- With this new competition, we are prepared to build upon the significant progress being made in Lower Manhattan. Take the HELM will help attract critical high-growth industries to the area, and ensure Lower Manhattan remains a global center of innovative business activity for decades.
Seth W. Pinsky, President, New York City Economic Development Corporation
A Dynamic Community
Lower Manhattan – pillars and canyons, cobblestone streets, thriving night life, and a vibrant business community.
Long known as a center of global commerce and the birthplace of New York and the country, Lower Manhattan is rapidly transforming into a live-work-play community of businesses, residences, restaurants, shops, hotels and cultural venues.
Media giants including Condé Nast, Omnicom, American Media, Fast Company, The New York Daily News and Broadcast Music have opted to locate in Lower Manhattan as have the five winners of HELM 1.0 (Booker, Flatiron School, Grapeshot, Paperless Post, and STELLAService), as well as many of the finalists (Bright Power, Of a Kind, OrderGroove, Rock Shrimp Productions, SHoP Architects, WeWork, Smartasset, MedCPU and Refinery 29). Tech stars such as Priceline, AppSense, GrubHub and CGS have joined over 300 new businesses in relocating here. All were drawn by an exciting environment, and outstanding transit and data infrastructure.
Startups and established companies alike, innovators and those on the cutting edge are capitalizing on the neighborhood's history, environment, architecture, culture and wide range of office space – picking and choosing the precise fit for today and tomorrow.
All of this is supported by significant economic development programs and two new transportation hubs – the Fulton Center and the World Trade Center Transportation Hub designed by Santiago Calatrava –making the district a true 24/7 community.
An Area with Everything
Lower Manhattan works for any type of business, and is particularly attractive to the types of companies that have recently gravitated to the area, including the creative and technology sectors, as well as startups and relocating businesses. Take the HELM seeks to increase awareness of the benefits of Lower Manhattan, including:
Lower Manhattan boasts an extensive mass transit infrastructure – the best in New York City – with direct access to 12 subways, PATH (trans-Hudson rail) and Hudson and East River ferries. The new Fulton Center and the World Trade Center Transportation Hub will connect a 21st century multi-modal network to the entire New York metro region.
The construction of new buildings and the conversion of existing structures have provided a wide variety of housing choices in Lower Manhattan, encouraging the neighborhood's population to swell to more than 60,000 in 2011 – equivalent to that of Palo Alto, California. This dramatic growth has, in turn, spurred an abundance of new hotels, shops, schools, recreational space and cultural opportunities that, coupled with the area's transit convenience, has created a distinctive live–work–play community unlike any other in New York. And, it's a piece of cake to walk to work.
Significant Federal, State and City investment in the infrastructure of Lower Manhattan is transforming the area south of Chambers Street from the East River to the Hudson River. In addition to the rebuilding of the World Trade Center, where Condé Nast will occupy over one million square feet in 2015, over $30 billion in both public and private investment has been committed to the area. Significant investments include 8 Spruce Street (the tallest residential structure in the western hemisphere, designed by renowned architect Frank Gehry), the expanded two-mile East River Esplanade, and dozens of new public spaces and vest pocket parks for outdoor recreation.
Office Space Options & Incentives
In addition to significant mass transit and an active 24/7 neighborhood, Lower Manhattan's office space options are efficient, flexible and affordable, with many office building owners investing in infrastructure upgrades to attract and accommodate 21st century businesses. Even so, rents are highly competitive with other Manhattan office districts and offer a broad array of amenities including harbor views, loft-like spaces, bicycle storage, fitness centers and WiFi lounges.
For Take the HELM applicants that do not yet have broker representation, the following resources may be of help:
- CBRE, among Lower Manhattan's leading brokerages, is prepared to assist in navigating the Lower Manhattan office market and its incentives. Inquiries about space can be addressed to firstname.lastname@example.org
- Other commercial real estate brokerages can be found through the Real Estate Board of New York.
In addition, there are listing services that present a variety of leasing opportunities in Lower Manhattan. The following resources may be of help:
- 42 Floors is a platform to help New York's thriving entrepreneurial community of startups and small and medium sized businesses search for space online.