GFI Realty Services has released a research report entitled The Tech Effect, which highlights the ascendance of TAMI tenants within the outer boroughs and the impact this has on real estate investment.
Some of the specific neighborhoods in Brooklyn that benefit from the neighborhood amenities and culture that tech firms foster include:
- Williamsburg, which has become a hot place for startups including Vice Media and Bulletin.
- Greenpoint, now home to Kickstarter, Greenpoint Pictures, and Atlas Obscura.
- DUMBO, which has produced tech companies like Big Spaceship, Blankslate and Etsy.
Heard on the Street: GFI Realty’s Justin Fitzsimmons: “Once TAMI companies began to move to Brooklyn, the surrounding areas’ already-robust residential markets truly took off, as new residents were attracted to the new jobs being created and the neighborhood amenities and culture that tech firms foster. As a result, many Brooklyn neighborhoods inadvertently became live-work-play environments, a model that further reinforced investors’ confidence in them.”