News Tech: Mayor Eric Adams is taking concerns from tech executives over the city`s crime and high rents head-on, encouraging them to keep their business in the Big Apple. Over dinner at Daniel Boulod`s Le Pavilion in Midtown East last week, Adams told tech leaders and investors that the city “needs and wants technology companies,” and that officials are eager for tech companies to “help grow the economy,” people familiar with the discussions told CNBC. The dinner was hosted by angel investor Ron Conway and Josh Mendelsohn, managing partner of tech investment firm Hangar.
The mayor`s remarks were aimed at tamping down concerns over crime rates and rising rents, which business leaders have highlighted in recent years as key factors in the recovery of cities` commercial real estate sectors. The median rent in New York hit $4,150 in July, up nearly 30% from last July, according to data from Miller Samuel, a Douglas Elliman valuation firm. That same month, the Manhattan rental market posted record rents for a sixth consecutive month.
Adams` spokesman Fabien Levy confirmed to the outlet the mayor made remarks at the event, detailing only that “he spoke about the importance of tech to NYC and government innovation”. Attendees included Greycroft co-founder Alan Patricof, former Obama advisor and Lyft board member Valerie Jarrett and Warby Parker CEOs Dave Gilboa and Neil Blumenthal, an investor in the brokerage startup Avenue 8, according to a list reported by CNBC.
Analysis shows the city has a historically low crime rate, but the pandemic has resulted in a surge in widespread violence and Adams’ crime-centric political brand has sparked a new wave of concern. The mayor previously contributed his remarks to encourage personal return from New York City. regulations, said the city should try to define the question, “What does the workweek look like?” “There may no longer be a central business district,” Adams said, citing areas where the business and retail bubble is brewing as offices remain largely empty. “I don’t know, but you can’t trip over it.”
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