NEW YORK CITY- From Facebook to Foursquare, Manhattan’s three core Midtown, Midtown South and Downtown markets are rife with Web 2.0 leaders. But the future of the fast-paced digital industry also lies in the hands of foreign tech start-ups looking to grow and expand their companies in the US.

In an effort to educate and inform the international community, CB Richard Ellis, in partnership with the New York City Economic Development Corporation, hosted a “World To NYC” panel discussion at their Midtown offices yesterday morning, providing foreign technology companies from London and Singapore with the American business basics of real estate, legal, accounting and recruiting. The panel included CBRE’s first VP Gregory Kraut, attorneys Allan Rooney and Tim Fisher of Allan J.P. Rooney, P.C., Emre Ozgu of Barst Mukamal & Kleiner LLP and Dee Reynolds of Stateside Solutions.

With 223 million square feet in Midtown, 65 million square feet in Midtown South and 82 million square feet Downtown, Kraut spoke about the various subletting and leasing options available for New York City newcomers. On average, he said average asking rents in Midtown--the largest office market citywide--range from $50 to 60 per square foot, but explained that most new media and technology companies flock to Midtown South, where average asking rents rank in the mid $30s to $40s per square foot.