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.

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.

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.

Millions of Square Feet of modern New York City office rentals will get delivered to the real estate market in the next few years. Soon enough, tenants will have the choice of relocating to the state of the art buildings well suited to their 21st century needs. Indeed, throughout the Manhattan skyline, there are gleaming office towers under development. New York City has not seen this level of commercial construction since the late 1990s. Betting that there will be strong demand for modern office space to lease, developers are willing to take the risk. Their projects are massive: many will be larger than the Empire State Building! And by 2019 over fourteen million Square Feet of new Manhattan office space… Continue reading

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Posted in Commercial Leasing 101Manhattan Office SpaceNYC office space.
Office space installations are generally provided by landlords

Getting the Build Out You Want When you rent a new location for your existing business or start-up, getting your space built out exactly as you want it is key. If you are an accounting firm that needs 8 offices and a conference room, you will not feel comfortable in an open plan. If you are a technology start-up looking to create a collaborative work environment with an open layout, you are not be happy in an office intensive space. The good news is that landlords will often modify a space so it meets a new tenant’s architectural specifications. They will hire a general contractor, manage construction and, to varying degrees, pay for build out costs. So, as a tenant,… Continue reading

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Posted in Commercial Leasing 101Manhattan Office SpaceNYC office spaceUncategorizedUnderstanding Commercial Lease Language.