Tower 47 at 23-10 Jackson Ave hit 90% leased this week, with AI startups snapping up space in Long Island City. Leasing surged after Memorial Day, according to on-site agents.

Leasing brokers at Cushman & Wakefield confirmed this week that Tower 47, located at 23-10 Jackson Ave in Long Island City, has filled 90% of its available office space. The 15-story building has seen a rush of tech tenants since Memorial Day, with a particular spike from AI startups looking to escape Manhattan prices without losing transit access.

The biggest new tenant is NeuralGrid, a 22-person artificial intelligence firm moving from a co-working spot on West 39th. CEO Halima Rodriguez told NYC Pulse that “Jackson Ave puts us two stops from Midtown and one lunch break from Court Square’s ramen spots. Our engineers don’t want to leave.” She added that Tower 47’s flexible floor plans and high-speed fiber have made it “an easy sell” internally.

Other recent lease signings include QuantumFlux, Dataloom, and the stealth-mode startup Nyxbyte, all taking between 3,000 and 6,500 square feet. Building owner Gowanus Capital completed a lobby renovation in late April, adding new bike storage and a café, which brokers say helped tip undecided founders. The building’s last three floors remain open, with brokers expecting to announce one more anchor tenant by July.

Long Island City has been on developers’ radar for years, but brokers say this spring’s AI boom is different. “We’ve signed more tech companies in three months than we did all of last year,” said leasing rep Jackie Luo outside the Jackson Ave 7 stop. “They want new space, fast lease-ups, and coffee downstairs — LIC’s got that now.”

Frequently Asked Questions

Which startups have moved into Tower 47?

Five AI startups have signed leases since March 2024, including NeuralGrid, QuantumFlux, Dataloom, and Nyxbyte. NeuralGrid relocated its 22-person team from Manhattan, while the others were previously based in Brooklyn and Queens shared spaces.

Why are AI companies choosing Long Island City?

Founders cite LIC’s direct subway access to Midtown and Brooklyn, more affordable rents than Manhattan, and new amenities like bike storage and lobby cafés. Jackson Ave’s proximity to Court Square and local food spots is also a key perk.

Is there still space available in Tower 47?

As of June 2024, Tower 47 is 90% leased with the top three floors available. Leasing agents expect to fill remaining offices by July, with interest from both tech and media firms chasing flexible layouts and fast move-ins.

Frequently Asked Questions

Which AI startups have recently leased space in Tower 47 in Long Island City?

Five AI startups, including NeuralGrid, QuantumFlux, Dataloom, and Nyxbyte, have signed leases at Tower 47 since March 2024.

Why are AI companies moving to Long Island City instead of Manhattan?

AI companies are choosing Long Island City for its direct subway access to Midtown and Brooklyn, lower rents than Manhattan, and new amenities like bike storage and a café.

What percentage of Tower 47 is currently leased?

As of June 2024, Tower 47 is 90% leased.

Is there still office space available at Tower 47?

Yes, the top three floors of Tower 47 remain available, with full occupancy expected by July 2024.

What recent renovations have been made to Tower 47 to attract tenants?

Recent renovations at Tower 47 include a new lobby, added bike storage, and a café.

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