Affordable Office Space for Startups: Destination Yonkers

Congratulations! You are ready to move your business out of your apartment and into a private office space in NY. Although your company may be enjoying a positive cash flow for the first time—that doesn’t mean you should spend it on a Park Avenue office.

While New York City may be your first choice, it is important to thoroughly evaluate your options and ask yourself why is it so important to be in Manhattan? Is it because of perceived prestige?

Unfortunately, most startups fail because they run out of money. The reality is that no one will be impressed with a business that doesn’t exist.

Save on Office Space in NY

If you want to beat the odds, it’s important to conserve cash. Of course, you could do what every “cool” new startup is doing and pay $500 a month to socialize in a noisy and overcrowded coworking space in Union Square . Or—for not all that much more, you could have your very own office space in Yonkers, NY.

With a number of initiatives in place to foster economic growth and attract new businesses, Yonkers has emerged as a center for technological innovation and entrepreneurship .

 

Just ask local entrepreneur Dr. Barry Kappel, Vice President of Business Development for ContraFect Corp., how much his business saved by relocating to the city.

 

“Building out a 15,000-square-foot laboratory in Yonkers was economically feasible for us…we did it at 20 to 25 percent of the cost it would have been in other locations. At the end of the day we’re really happy with our decision to be in Yonkers. We’re proud to be associated with the city and we encourage others, both in our industry and in other industries as well, to make the move.”

High End Retailer Relocating From Manhattan to Yonkers

A luxury women’s retailer is relocating its mid-town Manhattan manufacturing space to … drumroll please — downtown Yonkers.

Rubin Paints

Leggiadro International Inc., which has stores on Madison Avenue, Beverly Hills, Nantucket, Naples and Santa Barbara, among other high end locales, is headed to Main Street in Yonkers. The company purchased 65 Main Street where it plans on converting the building into its design studio, cutting room, warehouse and outlet store. And they’re bringing 20 skilled workers, who according to Mayor Mike Spano, are pulling in an average of $70K a pop.

Leggiadro embraces European luxury fabrication techniques, and its artisans pay close attention to detail to ensure the highest quality possible. They use natural fabrics, woven and knit that are hand selected from the finest mills in France, Italy and Switzerland, according to the company.

The company is purchasing the building for $1.65 million and expects to invest another $1.4 million in construction, furnishings and fit out.

The four-story building, which has long been the home of Rubin Brothers Paint & Wallpaper Co., is way cool – and deceptively large.

LeggiadroNYC2012How do I know? Years ago, friends of mine used to live there. The open spaced, high ceiling lofts were something you’d see in Tribeca, Chelsea or Brooklyn. At a fraction of the cost.

In fact, whenever I talk about awesome open spaces apartments, 65 Main inevitably comes to mind, even 20 years after first stepping foot in the building. It’s really no wonder a fashion company sees the potential.

Mayor Spano called the luxury retailer’s relocation to Yonkers as “a clear signal that we are appealing to an ever wider variety of businesses.”

Leggiadro is joining other great companies such as Mindspark, ContraFect, The Energy Project and Yonkers Brewing, among many others who see the potential.

If you’re looking for the next Brooklyn or Hoboken, Yonkers is clearly the city to watch. Be Part of It @generationyonkers.com.

It’s Cold Out There, But Untermyer Gardens is Going to Be Hot this Spring

untermyerIf you haven’t been over to Untermyer Gardens recently – and by recently, I mean when it was actually warm and sunny – you really ought to put it on your to-do list for the spring.

Why?

In addition to simply thinking about warmer temps at the moment, the nonprofit group Untermeyer Gardens Conservancy has doubled downed on Miracle-Gro and raised a ton of green to make some exciting improvements to the gardens, according to my former TJN colleague Bill Cary, who recently wrote about how supporters have been bringing the gardens “back from ruin for the last four years.”

Three major capital projects, totaling $500,000, are poised to improve the 44-acre public park in Yonkers. Among the improvements are restoring the Temple of Love; relining water canals in the Walled Garden; and hiring more gardeners, among some other exciting changes in programing including a June gala where Martha Stewart has agreed to serve as an honorary chair.

Improvements to Untermyer are a fraction of the exciting things happening in Yonkers. Be Part of it @GenerationYonkers.com.

Read more about these exciting changes at LoHud.com or check out Untermyer Gardens’ website.

How to Find the Perfect Office Space in NY

Finding the right office space in NY for your business can be a daunting task.

Follow these five guidelines to simplify the process.

The Perfect Office Space in NY

Location, Location, Location. Although New York City may be your company’s first choice, exorbitant rents and overly compact spaces are often deal breakers. As an alternative, consider relocating to nearby Yonkers. With over four-and- a-half miles of waterfront property, some of Westchester’s largest corporate parks, and premium industrial, commercial and warehouse space—you can’t go wrong!

Find the Right Broker. You will be working with this person day in and day out, so chemistry is important. A high-pressure sales person will drive you crazy while an indecisive broker can be just as frustrating. It’s important to find someone who is familiar with commercial real estate as well as the geography of the location you are looking at.

Don’t Rent More Space Than You Need. Remember the rules of retail—it’s not a great deal if you don’t need it. This is especially true for startups; avoid wasting money on space your organization doesn’t need.

Is Your Perfect Office Space in NY, Perfect—As Is? Or does it require minor layout changes? If so, find out if the landlord contributes to tenant improvements (TI). Ask about nearby parking options. Also, inquire as to which amenities, if any, are included.

Last But Not Lease…(we couldn’t resist!) If everything works—except for the lease—than that’s a problem. Scour the contract for hidden costs and fees. Find out if utilities are included, and if not, request an estimate. If necessary, hire a real estate lawyer to review the lease.

Looking For Affordable Office Space, NYC? Try Yonkers

If running your business out of a converted closet while bumping elbows with ten bootstrapping wannapreneurs doesn’t appeal to you, maybe it’s time to consider looking beyond Manhattan for affordable office space in NY.

Believe it or not, it exits—and only 30 minutes from Grand Central.

Welcome to Yonkers, a true hidden gem, where office space is double the size and a fraction of the cost of its oversaturated southern counterpart.

The Best Office Space NYC Alternative: Yonkers

While everyone else seems to think they need to be in Manhattan, Hoboken, or Brooklyn—smart companies are moving outside of the big city limits. They flock to Yonkers in search of affordable office space—but stay for everything else it has to offer.

“Yonkers is the best kept secret in the New York Metro area. We’ve got it all. Excellent schools, low crime rate, diverse housing, modern and affordable office space, a great mix of businesses, lively culture, exceptional retail opportunities, fabulous restaurants and spectacular Hudson River views. And we’re only 25 minutes by train to Grand Central Station,” boasts Mayor Mike Spano.

From industrial, commercial, and warehouse space in the Nepperhan Vally; to expansive corporate parks on the northern border; to retail and office locations throughout the city—Yonkers has an office space to fit your company’s needs.

Become a part of the new and inspired generation of business leaders successfully exploiting all the city has to offer…build, relocate or grow your business in Yonkers.

 

Mayor Spano: Economic Statistics Point to Growing Yonkers Economy

FOR IMMEDIATE RELEASE

MAYOR SPANO: ECONOMIC STATISTICS POINT TO GROWING YONKERS ECONOMY

Yonkers Unemployment Rates Stands at 6.1%, down from 7.3% in October 2013;
Home Sales & Home Sale Prices Also On the Rise

YONKERS, NY – December 4, 2014 – Unemployment is at a six year year-to-year low, home sales and sales prices are on the rise in Yonkers, and sales tax revenues are increasing as area residents support the local economy, Yonkers Mayor Mike Spano announced today.

According to preliminary data released last month by the New York State Department of Labor, the October 2014 unemployment rate in the City of Yonkers was 6.1%, down from 7.3% in October 2013. The October 2012 unemployment rate in Yonkers was 8.4%, 8.6% in 2011, 8.9% in 2010, 8.8% in 2009 and 6.2% in October 2008. Data also shows Yonkers having the lowest unemployment rate of New York’s so-called Big 5 Cities – in October 2014, New York City’s unemployment rate stood at 6.4%, 7.4% in the City of Buffalo, 7.0% in Syracuse and 7.4% in Rochester. (For more information, visit www.labor.state.ny.us/stats)

“Yonkers is a city on the move,” said Mayor Mike Spano. “The downward trend in unemployment is another sign of the positive growth of our economy, and recent groundbreakings are further proof that Yonkers is quickly becoming the city in which to live, work and play.”

In more positives news, for the first quarter of the City’s Fiscal Year 2015 (July 2014 through September 2014), sales tax revenues in the City of Yonkers increased by 5% over Q1 in Fiscal Year 2014. Home sales and home sale prices are also on the rise in Yonkers. According to data released by real estate brokers Houlihan Lawrence, the mean home sale price in Yonkers in October 2014 increased 12.2% from October 2013, while the average sale price was up 4.7%. Through October 2014, 469 homes have sold in Yonkers, up from 464 for all of 2012, 404 in 2012, and 337 in 2011. (For more information, visit www.houlihanlawrence.com)

Mayor Spano also pointed to the reaffirmation of Yonkers’ bond ratings by Moody’s and Standard and Poor’s as a positive economic sign for the city. And for the first time in recent memory, the City sold its bonds in a competitive market, driving rates lower and helping the City save on refinancing.

“The City has a made a lot of progress over the last three years, especially in light of the Board of Education’s budgeting error,” said Mayor Mike Spano. “It is apparent that buyers recognize our strength, our growing economy and Yonkers’ positive fiscal outlook.”

The economic resurgence comes on the heels of several positive economic development announcements in Yonkers. In October, Mayor Spano and Ginsburg Development broke ground on a new 330-unit, $100 million residential development known as River Tides. The 10-luxury development, one of the largest in Yonkers in recent years, is expected to create 300 construction jobs.

Mayor Spano pointed to recent hotel developments as another sign of positive economic growth in Yonkers. More than 500 new or renovated hotel rooms will soon be available to visitors and residents, including the Hyatt Place at Cross County, which is expected to create 100 full-time jobs; the Courtyard Marriot at Executive Boulevard, which will open near Marriott’s successful Residence Inn; and the $20 million Hampton-Inn on Tuckahoe Road. In addition, the Royal Regency Hotel recently completed a major, multi-million renovation project, creating one of the area’s first boutique hotels.

“The City Council, working across the aisle, has been instrumental in our success growing Yonkers’ economy, attracting businesses and jobs, and establishing Yonkers as a business-friendly City,” said Mayor Spano. “I look forward to continuing our partnership to further improve our economy.”

Overall, the city has experienced a 2% increase in population growth, growing by nearly 4,000 residents from the 2010 US Census to July 2013, the latest date for which population date is available. Yonkers has also grown at a faster rate than any other major city outside the City of New York. (For more information, visit www.census.gov)

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Media Contact:
Christina Gilmartin
Communications Director, Office of the Mayor
City Hall: 914-377-6208
Cell: 914-512-4017
Christina.gilmartin@yonkersny.gov

Mayor Spano to Boston: Great Cities Think Alike

Mayor Wishes Generation Boston Much Success, Sends Package from Yonkers

YONKERS, NY (November 2014) –Yonkers Mayor Mike Spano, after hearing about The Boston Globe’s Generation Boston project on social media, wished Publisher John W. Henry much success in the organization’s efforts to reach, report and market to millennials.

As part of a good natured message released today, Spano touted the success of the Generation Yonkers campaign and sent the publisher a package of gifts from the City of Yonkers including tasty treats and goods from some of Yonkers well-known businesses including the Greyston Bakery, Empire City Casino, Yonkers Brewery, Kawasaki Rail Car and Domino Sugar to name a few.

“We’ve had great success with our Generation Yonkers campaign and we wish you much success as well,” Spano said in a video message posted on Generation Yonkers’ website and social media sites including Facebook, Twitter and YouTube. The mayor also invited the publisher to see Yonkers for himself, suggesting it’s a convenient stop on the way to Yankee Stadium. (Henry owns the Boston Red Sox).

In a letter sent with the gift package to The Boston Globe publisher, Spano asks “What’s 177 miles apart but closer than ever? Yonkers, NY and Boston, MA.”

“On the face of it, one might reflect on our differences—accents, sports loyalties, cuisine (pizza vs. chowda?). Recently though, we’ve had reason to reflect on our similarities. After successfully launching our Generation Yonkers (GenY) marketing campaign last year, we know the importance of the millennial market and the appeal great cities, like Yonkers and Boston, hold for this enviable group of movers, shakers and decision makers,” Spano wrote. “We truly believe that like great minds, great cities think alike.  So if you’re ever in the area (or en route to Yankee Stadium), come by and visit us here in Yonkers. Best of luck with your campaign.”

The friendly letter and gift package comes months after Yonkers launched its highly successful and ongoing Generation Yonkers campaign targeting millennials and cutting edge decision makers.  As part of a wide-reaching television and radio campaign, Generation Yonkers aired nearly 1,000 commercial spots over 10 weeks on ESPN, FOX News, FOX sports, the NFL Network, TBS, News12, FIOS1 News and WCBS Radio, which includes exclusive sponsorship of the opening bell coverage, named The Generation Yonkers Opening Bell Report.

Generation Yonkers speaks to Millennials or Generation Y, loosely defined as those born between 1983 and the early 2000’s that represent the next big wave of the nation’s workforce. Generation Yonkers also refers to the many generations — past, present and future — that have made Yonkers great.

The campaign builds on the momentum of many new businesses and exciting development happening throughout the city — particularly along its scenic Hudson River waterfront. The commercials promote Yonkers as the next urban frontier and as a great place for people to live, work and play. The spots highlight companies such as high-tech startup MindSpark, biotech company ContraFect, innovative consulting firm The Energy Project, and the soon-to-be opening Yonkers Brewing Co., which is currently transforming a historic trolley barn overlooking the river into a brewery.

The campaign represents the first time under Mayor Spano that the City has marketed itself to the New York Metropolitan area. Generation Yonkers was developed by the Westchester-based advertising and marketing agency Thompson & Bender.

Yonkers is inspiring a whole new generation of business leaders. Be part of Generation Yonkers. For a list of properties that fit your needs, call 1-844-GenY-Now. To view the commercials, visit GenerationYonkers.com.

Generation Yonkers Goes Primetime

Ads Show Yonkers as a Great Place to Live, Work & Play

YONKERS, NY (October 10, 2014) – Generation Yonkers is going primetime. Starting next week, the City of Yonkers, as part of its new Generation Yonkers marketing campaign, will makes its debut on Monday Night Football, Thursday Night Football, the O’Reilly Factor and the Major League Baseball playoffs, among others shows seen by millions of viewers throughout the region.

As part of a wide-reaching television and radio campaign, the City announced today that it will be airing nearly 1,000 commercial spots over 10 weeks on ESPN, FOX News, FOX sports, the NFL Network, TBS, News12, FIOS1 News and WCBS Radio, which includes exclusive sponsorship of the opening ball, named The Generation Yonkers Opening Bell Report.

The commercials promote Yonkers as the next great place for people to live, work and play. It’s the first time under Mayor Mike Spano that the City has marketed itself to the New York Metropolitan area.

“Day-in and day-out, we see all of the buzz, excitement and activity here,” said Mayor Spano. “We’ve got it all in Yonkers – great restaurants, great businesses, great schools and great people. We welcome others to see for themselves and to be part of our city.”

The television and radio spots feature executives from some of Yonkers cutting edge businesses including high-tech startup MindSpark, biotech company ContraFect, and innovative consulting firm The Energy Project. Each ad touts the city’s proximity to Manhattan, affordable rents and happening vibe – attributes that are inspiring the next generation of business leaders to seek space in the region’s next urban frontier.

“When we began to look, we ruled out New York City for two reasons. One, I didn’t want to get in a car and have to spend 45 minutes traveling from my home in Riverdale, and two, the price was probably 2 or 3 times what it was in Yonkers,” said Tony Schwartz, president and CEO of The Energy Project, a firm whose clients include Google, Apple, Sony Pictures and other Fortune 500 companies. “And then I loved the idea of being in a truly urban setting that was on its way up to be part of something new.”

Generation Yonkers is a new initiative that speaks to the Millennials or Generation Y, loosely defined as those born between 1983 and the early 2000’s who represent the next big wave of the nation’s workforce. Generation Yonkers also refers to the many generations — past, present and future — that have made Yonkers great.

The campaign builds on the momentum of many new businesses and exciting development happening throughout the city — particularly along its majestic Hudson River waterfront.

Earlier this year, Mayor Spano unveiled the bold new economic development effort positioning the city as the New York Metro area’s next urban frontier.

The Generation Yonkers campaign is developed by the Westchester-based advertising and marketing agency Thompson & Bender. The initial phase consisted of testimonials from business leaders of companies and start-ups including Mindspark, ContraFect, Yonkers Brewing, Hudson Valley Bank, Kawasaki Rail Car and Empire City Casino. The second phase includes these television and radio advertisements as well as a continued social media push on Facebook and Twitter.

Yonkers is inspiring a whole new generation of business leaders. Be part of Generation Yonkers. For a list of properties that fit your needs, call 1-844-GenY-Now. To view the commercials, visit GenerationYonkers.com.