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Thursday April 24, 2014

#Microsoft Moves NY Operations to 11 Times Square, not #Silicon Alley

Image representing Microsoft as depicted in Cr...

Image via CrunchBase

Instead of selecting a hip headquarters in Chelsea or the Flatiron District like other tech companies, Microsoft Corp. is setting up its NY operations squarely in Midtown at 11 Times Square—just across the street from the Port Authority Bus Terminal. According to The Wall Street Journal, it got a good deal. The software giant is paying in the low $60s per square foot—for just over 200,000 square feet. Apparently most new developments are charging $75 a square foot. Steve Pozycki, one of the developers of 11 Times Square, told The Journal that Microsoft wanted to be near a transportation hub because they have more than 500 guests a day at their offices. The total deal was valued at more than $200 million.

The Wall Street Journal