Over the last five years, backed by the mega billion private equity investment industry, “tech” firms have swarmed into what was a relatively quiet and benign district of the city, Chelsea, and to some extent, its immediate neighbor, Flatiron. This section of the city, rich in boutique and loft style buildings, is a perfect marriage for all the “up and comers” infiltrating the tech industry. And it is not only the buildings, themselves, that present such an attraction to these twenty to forty year old “techies”; the commercial spaces within these structures totally lend themselves to the mood and concept of this breakout industry. To be more specific, the typical space found in this market is a combination of high… Continue reading

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Posted in Manhattan Office SpaceMidtown SouthNYC office space.

People who are in the market for a new commercial space for their business, be it a retail enterprise, a medical practice, a fashion showroom, a loft style studio or a traditional office space always have the choice of working with either leasing agents of individual buildings or independent real estate brokers. The only advantage of working directly with the individual leasing agent of a particular building is that the agent has an intimate knowledge of both the landlord and the characteristics of that building. The advantage of working with the independent broker is multi-fold and is as follows…. 1) The broker is quite capable of learning about all the relevant characteristics of any commercial building and explaining in detail… Continue reading

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Posted in Brokers & Other Real Estate ProfessionalsNYC office space.

Unlike most areas of the country, in Manhattan commercial landlords employ the concept of renting “rentable” square feet when they lease a space, be it office space, retail space, medical space, showroom or loft space. To understand this concept more clearly one needs to recognize the premise that a landlord always wants to rent every square foot of space in his building. Naturally, this is not possible from a physical standpoint since designated common areas of the building, such as public bathrooms, stairwells, elevator shafts, mechanical rooms, common corridors on divided floors, etc are meant for all tenant’s use and therefore cannot be leased to individual tenants. Hence the landlord apportions a percentage of the common areas to each tenant… Continue reading

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Posted in Manhattan Office Space.

Commercial Space is a generic catchall phrase that defines any real estate property that is not residential. And within the commercial space nomenclature, there’s an endless array of categories that have nothing in common with each other. After all, what does a medical office have to do with a retail shoe store or a showroom that imports new drapery fabrics from France? Well, they all need commercial properties and places to house their businesses. Many Business Real Estate Categories!! The diversity of businesses real estate for lease or purchase in Manhattan is mind-boggling, yet this city can accommodate just about any business you have. Tell a Metro Manhattan (212) 447-5403 leasing agent what your needs are and he will find… Continue reading

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Posted in Commercial Leasing 101.

It’s often said that your office is your second home. It’s where you go in the morning and where you leave at the end of the day. And for someone looking to find a great commercial office space in Manhattan, you first need to select the neighborhood that will become your second home, and then can you find the space you’ll be comfortable in, just like a home. Midtown Manhattan, Midtown South and Downtown — These are the three major commercial real estate markets in New York City. And it should come as no surprise that New York is a city of variables and that within each major office space market is a sub-market, possessing its own distinct business identity… Continue reading

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Posted in Manhattan Office Space.