The offices of 568 Broadway are part of a tech company trend: an intricate web of subleases within a single space, the New York Times reported.
Scholastic, for example, is subletting two floors in the building to Foursquare, which is subletting one of the levels to several smaller tech firms. And one of Foursquare’s tenants, the phone-app designer Fueled, is willing to share its space — and an array of snacks — for $650 a month...
From Canal Street to 30th Street, sublets comprised 19 percent of major leasing this year, up from 11 percent in 2010, according to Studley data cited by the Times.
“They don’t know about the future, so flexibility is key,” Heidi Learner of Studley told the Times...
Sublets Lure Manhattan Startups
Studley Insights: Detailing the leasing behaviors displayed by tech sector tenants in Manhattan (PDF)