Web Startups Fuel NY's Midtown South Real Estate Boom

Law360, New York (February 27, 2012, 5:09 PM EST) -- Fueled by increasing interest from new media firms and other digital startups, the area of New York dubbed Midtown South is in the midst of a commercial leasing boom that is expected to continue through 2012, local brokers and tenants say.

Digital companies are interested in office space in the neighborhood because of its relatively low price compared to Midtown and its tendency to have unique and hip office layouts, according to veteran New York brokers.

Gerry Miovski, senior vice president with CB Richard Ellis Group...
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