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Corporate Suites Provides Startups with Office Space in New York City

Posted on: Tuesday, 24 February 2009, 06:30 CST

NEW YORK, Feb. 24 /PRNewswire/ -- Corporate Suites, a leading provider of turn-key office space in Manhattan, witnessed an increase in demand for temporary office space in January. Although commercial lease and sublease office space inventory in Manhattan rose, many businesses have not been able to secure the capital or market confidence to commit to long-term leases, leading them to look for short-term, flexible options like Corporate Suites.

In January 2009, Corporate Suites opened a 23,000 SF business center at 757 Third Avenue at 47th street on the 20th and 21st floor. The center features 67 windowed office suites and 4 conference rooms with great panoramic views of Midtown Manhattan. Immediately thrust into changing market conditions, the center is well positioned to accommodate changing market needs.

"The new center is well situated in a Class A Midtown East office building and features high-tech meeting rooms and elegant decor. We are offering great rates with flexible terms," said Hayim A. Grant, President of Corporate Suites Business Centers.

Corporate Suites expected decision lags and an increase in temporary requirements for office space demand in Q4 of 2008. They expect similar market conditions for the first half of 2009, as well as an increase in demand for startup space due to government economic stimulus. Corporate Suites has taken steps to accommodate this anticipated demand from the startup sectors by providing "pink slip specials", additional flexibility in office space options and networking opportunity.

Recent announcements include a $30 million angel fund by New York City Mayor Bloomberg in an effort to help boost the financial services sector. Many prominent venture capitalists, have also announced that they have large cash reserves and are now making market investments which should stimulate startup activity.

"We are hopeful that with the many announcements pertaining to stimulus for start-up firms, particularly in the financial sector, these firms will have immediate needs for professional office space and will expand rapidly," said Mr. Grant. "With 7 central Midtown and Downtown Manhattan business centers, we are well positioned to provide any business with affordable furnished office space on a short- or long-term basis."

About Corporate Suites

Corporate Suites Business Centers, http://www.csbcenters.com, provides fully furnished and equipped office space in Manhattan, with conference room access and business services.

SOURCE Corporate Suites

Source: PR Newswire

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