Tuesday, June 10, 2025

June 10, 2025 • Estimated Reading Time: 9 minutes

Tuesday, June 10, 2025 

In today’s digest, tech 🤝 NYC real estate, a comptroller debate, and places to skate. 🛹

  • But first: Tech:NYC is hiring! We’re looking for a Membership Manager to play a central role in strengthening and scaling our fast-growing community of tech companies. Learn more and apply here.

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  • The second of two official debates for city comptroller ahead of the June 24 primary will take place tonight at 7pm, featuring leading Democratic candidates Mark Levine and Justin Brannan. Watch it live here. (The CITY)

    • FYI: The final Democratic mayoral debate will take place Thursday evening. 🗣️

  • A new terminal is coming to Hunts Point, creating a fresh spot for ships to unload cargo, and extending access to the waterfront. The marine terminal is being built on the site of the city’s jail barge in the Bronx. (Bloomberg)

    • This project is part of a larger effort to create a “blue highway” where more cargo is carried on marine and electric vehicles (instead of trucks) for the final stretches of deliveries. Officials estimate the facility will remove 9,000 trucks a month from city streets, easing congestion.

    • The terminal will also produce roughly 400 construction jobs, 100 long-term jobs, and $3.9 billion in economic impact over the next 30 years. 💸

  • Some ~gnarly~ news: A section of public space under the Manhattan side of the Brooklyn Bridge has reopened after 15 years with new amenities — including the legendary “Brooklyn Banks” skate park. 🛹 (NY Post)

    • Another $50 million for improvements to public seating, plantings, lighting, and more in the area is earmarked from the city’s 2026 budget.

In other reading:

  • How much does that delivery really cost? (Isaac Oates)

  • June's Strawberry Moon rises tonight. Here's what to expect from the lowest full moon since 2006 (Space)

  • The best cake slices in NYC, according to food baby (Eater NY)

NYC real estate is hot, hot, hot. 🔥 And tech companies, after several years of paring office leases, have returned to the market in a big way, way, way.

  • According to new data from CBRE, tech companies are leading the charge in Manhattan’s commercial office revival. 

🔢 By the numbers: 

  • Tech leased 3.16 million sq. ft. in 2024, its highest annual total since 2019. 

  • Q4 2024’s leasing contributed over 1 million sq. ft. of velocity for just the third time over the prior five-year period. 

  • Q1 2025 saw 1.2 million sq. ft. leased by tech companies, capping the strongest back-to-back quarters since Q1 2020.

  • In April, the tech sector added another 441,000 sq. ft., bringing the year-to-date total to 1.67 million sq. ft., marking the best start to a year since 2000.

🚀 What’s driving the surge?

  • AI (of course): Many of the newest leases are from AI-first companies like Harvey, AlphaSense, and OpenAI (a Tech:NYC member!), which expanded into NYC with a whopping 90,000-square-foot lease in the Puck Building. 

Here’s a look at what members of our community are doing:

  • Amazon recently signed a lease in one of Manhattan’s largest office spaces — 330,000 square feet across floors 3 to 11 in a 15-year deal at 10 Bryant Park. 

  • WeWork recently leased 112,265 sq. ft. at 5 Manhattan West.

  • Fizz, a social media platform, just moved its whole company from CA ➡️ NYC.

🗽 Why it matters for NYC:

  • New York’s positioning as a global hub of AI is materializing in jobs, investment, and now square footage.

Our two cents: This isn’t surprising. The best place to build and grow a company? Obviously NYC.

In other reading:

  • Seeking edge in AI race, meta to create new ‘superintelligence’ lab (New York Times)

  • Exploring the future of payments and innovation at Tech Week NYC (J.P. Morgan Payments)

  • Glassdoor Employee Confidence Index: A record low in May (Glassdoor)

  • Aiera, an NYC-based generative AI event solutions for financial professionals, raised $25 million in Series B financing. The round was led by a consortium of 10 major Wall Street investment banks and global expert network firm Third Bridge, with Microsoft joining as a strategic technology partner.

  • Arketa, an NYC-based business platform for fitness and wellness studios, raised $15 million in Series A funding. Inspired Capital led the round and was joined by existing investors First Round, Y-Combinator, Amity, and Velvet Sea.

  • MyLaurel, an NYC-based acute and transitional care provider, raised $12 million. Deerfield Management and GV co-led, joined by Emerson Collective, Pinta Partners, and Ochsner Health.

  • Salvo Health, an NYC-based GI care provider, raised $4 million in seed prime extension funding from The Artemis Fund and existing investors City Light, Human Ventures, Threshold Ventures, and others.

  • ⭐ June 16: The latest installment of our Cornell Tech @ Bloomberg speaker series, featuring Hayley Barna, Partner at First Round Capital, who will share her journey from startup founder to venture capitalist, offer her take on the next wave of breakout startups, and explore what it means to back bold ideas from day one. Register here. ⭐

  • ⭐ June 17: Decoded Futures Demo Day, a showcase of creativity, collaboration, and innovation featuring participants who have been exploring how AI can elevate nonprofit and social impact work during our 7-week Decoded Futures AI accelerator. Register here. ⭐

  • ⭐ June 18: From Policy to Progress: The Future of Tech Investment in New York City, a discussion featuring policymakers, tech leaders, and community advocates exploring how digital innovation and bold policies are shaping the future of NYC. Register here. ⭐

  • June 18: AI Show Not Tell - Ditch The Deck, a social meet-up curated for NYC-area technologists, founders, developers, and investors. Register here.

  • June 24: NY Enterprise Tech Meetup: AI-Powered Hypergrowth in Healthcare with Adonis & Tennr, a chance to learn firsthand from founders who’ve navigated it all: product-market fit, go-to-market motion, fundraising, and building with AI. Register here.

  • June 25: Techie Tapas, to give techies a space to network, collaborate, and build community. Register here.

  • June 25-26: Fundraising Strategy & Storytelling, a two-day workshop for early-stage founders to tighten their pitch, refine their deck, and get live feedback on fundraising strategy from top investors and operators. Register with promo code BRDERLESS20 here.

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