Finding Office Space for Your Startup in “New Tech City”

You know the names: Google, Yelp, Foursquare. You may also know the real estate associated with them: Chelsea Market, Union Square, SoHo. In a recent study by the Center for an Urban Future, New York City was named the fastest growing market for internet and media technology companies in the country, with over 400 new companies opening between 2007 and 2011. And the trend will likely continue as the city breaks ground on Cornell NYC Tech, a multi-million dollar satellite campus of Cornell University on Roosevelt Island that is centered around computer technology education.

Startups Face a Competitive Real Estate Market

What does this rapidly growing market mean for the city’s commercial real estate market? How can your startup get an edge by finding start up office space that facilitates creativity while being in close proximity to other creative companies? How can you prepare to smoothly navigate through the lease negotiation with the landlord? What neighborhoods contain the city’s best office spaces for the up and coming or experienced startup? Each of these questions can be answered by contacting a licensed New York State broker.

Ping-pong tables at Google, an iPad regulated keg at Yelp—it is no secret that the amenities found inside the office spaces of tech startups are as surprising as they are enjoyable. Who knows what next cool toy will be adopted in the office spaces of New York City’s hottest companies? Finding the right space that will foster creativity, ingenuity, and spontaneity among employees at your business will be critical to sustaining your business for the long haul. This search is often difficult in New York City, where much of the existing commercial real estate stock is located in buildings whose conditions pre-date modern tastes. So, even if you love the location of the building, it will be challenging to negotiate with the landlord about fixing the space to meet your requirements at the lowest cost possible.

An Experienced Commercial Real Estate Broker Can Help

In these scenarios, it is best to hire the services of a New York State licensed agent who has worked with major landlords in negotiating the ins and outs of commercial leases. In many cases, the lease documents are designed with language that could incur unnecessary hidden costs in the future, especially regarding construction, build-out, and property maintenance services. For startups and small business looking to embrace the current aesthetic trends in office space design (high ceilings, lots of natural light, glass conference rooms, energy efficient) the ability to get these results in your short-term or long-term lease without spending an arm and a leg requires the professional experience of a broker. You should not let a landlord’s unreasonable lease terms prevent you from creating a fun and relaxing space where your staff can feel as comfortable as possible. Click here to understand why it is best to contact both an experienced real estate lawyer and broker before you begin your search.