Monday, March 23, 2026
In today’s digest, track NYC’s cherry blossoms, take the train to the World Cup, and what the AI boom means for Manhattan office space. 🗽
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Looks like cash is still king, New York. 👑 The state just made it illegal for most stores to go fully cashless — meaning if you’ve got paper money, they have to accept it. 💵 (FOX New York)
Businesses can’t charge more for cash or refuse it, with fines up to $1,500 for repeat violations.
There are a few carveouts though, like online orders or cash-to-card kiosks.
It’s the first full week of spring, and we are so here for it. The Brooklyn Botanic Garden and the Central Park Conservancy have launched their annual cherry blossom trackers so you’ll know when to expect them to bloom. 🌸 (PIX 11)
While New York City’s cherry trees aren’t yet out in full force, expect peak bloom the last two weeks of April.
Cherry blossom overload (is there such a thing?): The Brooklyn Botanic Garden also just released tickets for Hanami Nights, its annual event with the Cherry Esplanade lit up for maximum effect.
If you’re headed to any local World Cup matches this summer, get ready for a full-on transit-first operation. Officials announced there will be no general parking (or tailgating) on-site for all eight World Cup matches in East Rutherford this summer, including the final on July 19. ⚽ (Time Out New York)
Trains, buses, and rideshares will shuttle crowds of up to 80,000 per game.
New infrastructure is being built, including a bus terminal at MetLife, a temporary ramp off the Turnpike, and a dedicated bus-only lane.
➕ One more thing: You may have seen some rumblings over the weekend about the New York State Senate’s proposal to remove the Qualified Small Business Stock (QSBS) exclusion in New York’s tax code. 👀
We’ll be diving deeper into this in the Digest tomorrow, but in the meantime here’s a high-level explainer from Union Square Ventures’ Fred Wilson on what it means for NYC’s tech ecosystem.
In other reading:
The Vegetalian is New York’s finest sandwich (The New Yorker)
Forget ‘Marty Supreme.’ Meet the real table tennis champion of New York (New York Times)
Midtown’s ‘42 Below’ retail occupancy rising faster than the rest of Manhattan (NY Post)
Together with The Feed Media 🤝
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AI is Reshaping Manhattan’s Office Market and Bringing Workers (and Leases) Back With It
Don’t call it a comeback.
OK, maybe call it a comeback.
The AI boom is reshaping the market for Manhattan office space. All in all, New York City’s office market just had its best year for leasing since 2014, and according to the latest data from Savillis, the proliferation of tech firms into the boroughs had a lot to do with it.
Here’s what the latest reporting and data show. 🤖
📊 By the numbers:
42.9 million: The square footage Manhattan leasing hit in 2025 — the highest since 2014 — as AI companies ramped up demand.
152%: The square footage jump YoY for AI firms in Manhattan (1 million sq. ft in 2025) while broader tech firms added 2.1 million more sq. ft.
21%: The rate at which tech firms grew in Manhattan from 2020-2024, according to JLL.
🏢 Where companies are leasing: Demand is concentrated in high-end, amenity-rich offices.
AI and tech tenants are driving demand for “trophy” and Class A buildings (AKA the highest-quality commercial properties), with tech making up nearly one-third of large leases in Midtown South.
Class A space accounted for ~70% of Q4 leasing despite being just 58.3% of inventory.
Midtown constraints are pushing companies into Midtown South and Downtown, where availability dropped to 22.7% and 19.9% respectively.
AI firms were among the most active tenants in 2025, playing a key role in those availability declines.
Yes, but: The boom is uneven.
Demand is concentrated in newer buildings, while older offices continue to struggle with vacancies.
👉 Bottom line: Companies scaling in NYC? Consider us unsurprised, obviously.
“Every industry and company is thinking about how to implement AI technology, and New York is ground zero for that conversation,” said Julie Samuels, President and CEO of Tech:NYC. “And every company is here.”
In other reading:
Welcome to the AI agent arms race (Axios)
Mexico City built a chatbot to help World Cup tourists navigate the city (WIRED)
Are AI tokens the new signing bonus or just a cost of doing business? (TechCrunch)
Doctronic, an NYC-based AI health assistant, raised $40 million in Series B funding. Abstract and Lightspeed led the round and were joined by existing investors.
GeoWealth, an NYC-based wealth management tech platform, raised $42.5 million in Series C extension funding from Goldman Sachs.
Kalshi, an NYC-based prediction marketplace, raised $1 billion at a $22 billion valuation led by Coatue.
Oasis Security, an NYC-based agentic AI identity management platform, raised $120 million in Series B funding. Craft Ventures led the round and was joined by existing investors Cyberstarts, Sequoia Capital, and Accel.
Featured events:
⭐ March 31: Runway AI Summit, bringing together industry leaders across media, technology, consumer brands, robotics, and more to explore how AI is reshaping how work gets done — and what comes next for enterprise. Register here with promo code TECHNYC50 for 50% off.
⭐ April 6-9: HumanX’s conference for AI leaders in San Francisco, uniting 6,500+ leaders, builders, and investors driving real transformation. Discover cutting-edge innovations and accelerate your impact through networking opportunities. Register here with promo code HX26P_TECHNYC to get $$$ off your pass.
Other great events:
March 25: Founders Improv, an interactive session to help founders sharpen their investor pitches using the tools of improv. Register here.
March 25: NYC Tech Poker Night, a night of poker with founders, operators, and friends from the NYC tech community. Register here.
March 25: Speed Pitch, where every founder meets with three matched investors in one-on-one eight-minute sessions. Register here with promo code TECHNYC20 for 20% off.
March 25: Equitable AI for Outcomes: Moving From Principles to Practice, a one-day virtual convening bringing orgs together (including Tech:NYC’s Decoded Futures!) to explore what equitable AI adoption looks like in real-world practice. Register here.
March 26: Rho Hoops Watch Party, for founders and the Rho community to gather and watch some basketball. Register here.
March 26: How The Nation’s Top Law Enforcement Organizations Are Navigating Disruption, a discussion with leaders of organizations representing state Attorneys General on how they’re equipping their members and offices with the resources needed to uphold law and order during times of disorder. Register here.
March 26: American Fintech Council’s inaugural Marketing and Communications Cocktails & Conversations, hosted in collaboration with Tech:NYC, CLYDE, and Current. Register here.
March 26: Make It in Brooklyn Ag Tech Pitch Contest, bringing together local Ag Tech startups, early-stage founders, seasoned investors, and industry leaders to spotlight solutions that will define agriculture’s next chapter. Register here.
March 31: Climate Scaling Summit, a keystone convening where you can connect with thought leaders in manufacturing, supply chain, and workforce development alongside growth-stage startups that have already made the post-pilot leap. Register here.
March 31: Building at the Frontier, a panel with the builders and operators pushing deep tech forward, featuring Fauna Robotics’ Rob Cochran and Radical AI’s Joseph Krause. Moderated by Eric Newcomer. Register here.
April 2: Building the American Century, part of Deep Tech Week, featuring fireside chats with David Ulevitch, General Partner at Andreessen Horowitz and co-leader of the American Dynamism practice, alongside key members of the team. Moderated by Hyperstition Incorporated’s Andrew Cote. Register here.
April 14: Govtech Happy Hour, for govtech founders and operators, civil servants past and present, and policy enthusiasts. Register here.
April 14: April Nexus Cocktail Mixer, an executive mixer designed for leaders driving operations, technology, and growth at top brands and retailers. Register here.
April 16: Construction Robotics Summit: From Dirt to Data, bringing together the builders, technologists, and decision-makers advancing robotics across the built environment. Register here for early-bird pricing before March 31.
April 28: Rillet Recon, a full-day program on the future of AI-native finance. Register here.
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