What Makes the "Office of the Future"?

At Bisnow’s NY Office of the Future Event, panel speakers shed light on the driving factors luring major tech/creative companies into NYC, and the steps CRE developers and owners are taking to ensure these companies stay long-term.  These are some of the nuggets of information shared:


- Michael Cohen, President at Colliers International, sees downtown as the midtown south of the 21st century which is poised for resurgence.
- Pressure in lease pricing for midtown south will force tech companies downtown as midtown south prices out many tenants.
- Midtown will also see tech tenants moving into the neighborhood
- Richard Bernstein, EVP at Cassidy Turley sees companies reducing excess
- Tommy Craig, Senior Managing Director of Hines now sees jobs following people


- Google focuses on sustainability not because of cost savings but, more importantly, it benefits their employees
- Employees at Google find food culture very important and amenities at their office space.
- Google’s Real Estate Project Executive, Adam Lutz, notes that many companies want to adopt Google's office culture/set up but struggle with the idea of change.
- Google recommends starting with small changes to office layout and culture to gain motion.

The Evolving Office

- David Falk, President of Newmark Grubb Knight Frank, sees companies looking for space that defines their culture.
- Michael Cohen sees companies which are inclined to use a bullpen shifting to a tech office layout
- Many companies want offices that run 24/7, however many buildings are not fitted to accommodate.
- Higher densities require companies to reconsider life safety / evacuation standards
- Eric Hadar, Chairman of Allied Partners sees his focus shifting to buildings that he didn't consider in the past because there are now tenants to make them work.
- Falk feels that certain buildings cannot be repositioned for tech tenants.
- “To be successful in market you need to be at the leading edge of innovation” – Tommy Craig
- Hadar feels that if you commit to tech/media tenants you need to go all out.

Co-Working Spaces

- Paul Pariser, Co-CEO of Taconic Investment Partners says co-working spaces, such as WeWork, are a game changer.
- Co-working spaces are thriving and taking more and more space in NYC and across the country
- It’s a concept that makes sense for startups that can't commit to a long term lease and find benefit from collaboration