BTQ Technologies doesn’t build apps or platforms. The company develops quantum cryptography tools designed to protect sensitive data against computing threats, which are still years away from fully emerging. Founded in Canada and now publicly traded on NASDAQ, BTQ recently opened a Manhattan office to get closer to the financial institutions and enterprise clients who will eventually need what they’re building.
BTQ isn’t the only one, either. When it went looking for a Manhattan footprint, the company joined a growing roster of next-gen tech firms betting on New York City office space.
The Office Search
BTQ launched its Manhattan office search in October and focused immediately on the Flatiron District. The neighborhood had what the company needed: loft-style buildings with flexible layouts, a central location, and strong subway access.
The team toured about half a dozen properties but kept the process tight. BTQ wanted efficient floor plans, solid natural light, and professional ownership. Anything requiring heavy build-out or lengthy construction timelines came off the list quickly.
What’s more, Flatiron fit the profile for a company at BTQ’s stage. The submarket draws technology and professional services tenants who want character space without the premiums that come with newer Midtown South products. For BTQ, it offered the right mix of credibility, convenience, and cost efficiency.
The Office Requirements
BTQ didn’t need a trophy space. The company needed a Manhattan office that worked on day one.
The priority was functionality: a layout that could support a collaborative technical team without requiring months of construction or custom build-out. Flashy amenities and building branding ranked low on the list. Getting the team operational quickly ranked high.
BTQ targeted a prebuilt suite with the following:
- Open Bullpen Layout: Room for the technical team to work together without walls getting in the way.
- Private Offices: Space for heads-down work and calls that require privacy.
- Dedicated Conference Room: Geared for client meetings and internal sessions.
- Wet Pantry: Coffee, water, and a basic kitchen setup for convenience.
The Transaction
BTQ found what it was looking for at 36–38 West 20th Street, a loft building in the heart of Flatiron with the layout, location, and ownership profile the company had targeted from the start.
The deal came together efficiently. BTQ signed a five-year lease on a prebuilt suite and took occupancy at the top of the new year.
Metro Manhattan Office Space represented BTQ Technologies in this transaction.
- Location: Partial 10th Floor South at 36–38 West 20th Street. Classic Flatiron loft building with efficient floor plates and strong transit access. The neighborhood continues to pull technology and professional services tenants for good reason.
- Size: 3,192 rentable square feet. Enough room for BTQ’s current team with flexibility to grow into the space over the lease term.
- Lease Term: Five years. A commitment that gives BTQ stability without locking the company into a decade-long bet on a single footprint.
- Commencement Date: The January 1, 2026 commencement allowed for immediate occupancy with minimal downtime.
Ownership and Leasing
Olmstead Properties owns and manages 36–38 West 20th Street. The firm has operated in New York for decades and holds roughly 15–20 office buildings across Manhattan, including loft properties like 54 West 21st Street and 37 West 20th Street that share a similar profile.
BTQ’s search criteria included professional ownership for a reason. Olmstead runs its buildings with a long-term mindset and a hands-on management style. Tenants see it in the day-to-day: well-maintained common areas, responsive staff, and ownership that stays involved. For a company opening its first Manhattan office, landing with that kind of landlord is invaluable.
Leasing was handled by Daniel Breiman on behalf of ownership. Both sides moved efficiently from initial tours to executed lease, with terms and timing on the same page throughout the process.
Why This Deal Matters
BTQ’s lease tells a story that extends beyond one company and one building. Quantum computing, cryptography, and advanced infrastructure firms are showing up in Manhattan with increasing frequency. These companies need physical offices, and they’re choosing New York over traditional tech corridors. For landlords and brokers paying attention, the pattern is worth noting.
Here’s what tenants in this category tend to prioritize:
- Location and Layout Over Flash: BTQ wanted a well-located building with efficient bones. High-profile amenities were not a deciding factor.
- Prebuilt Spaces Ready for Occupancy: Months of construction delays kill momentum. Companies at BTQ’s stage need to move in and get to work.
- Professional Ownership: Responsive, well-managed ownership was prioritized over a high-profile address.
- Long-Term Fit Over Short-Term Branding: BTQ chose a space designed to support its operations over the next five years.
What Comes Next
BTQ now has a Manhattan address and a five-year runway to build out its U.S. presence. The company landed in a well-managed loft building, in a submarket that fits its profile, with a lease structured for stability and flexibility.
For the broader market, this transaction adds another data point to a growing trend. Quantum computing, cryptography, and advanced infrastructure companies are choosing New York. They’re leasing real space, hiring local talent, and betting on Manhattan as a long-term base of operations. Landlords with efficient product and professional management are capturing this demand.
BTQ executed a focused search, applied consistent selection criteria, and secured a prebuilt space that met its operational requirements without the need for build-out.
Most importantly, everyone, from the landlord to the leasing agent to the tenant, walked away happy
