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MANHATTAN OFFICE SPACE
Renting an office in Manhattan is a big decision. There are many factors to consider including affordability, location, square footage, landlord reputation, property managers, lease terms, etc. Working with an experienced broker who can coordinate all of these moving parts and who is intimately familiar with New York’s office space market is key to leasing an office space ideally suited for your business.
Metro Manhattan Office Space, Inc. specializes in tenant representation. Unlike many other real estate companies and brokers who work directly on the landlord’s behalf, we ONLY represent tenants. Our loyalties lie solely on your side. From finding the ideal commercial office space for your business and budget, to helping you negotiate superior business terms (i.e., drafting of offers and counteroffers and potentially managing simultaneous negotiations on multiple properties), to cooperating with your attorney on lease language negotiations, to helping you understand the financial aspects of your lease, we are with you every step of the way. Whether you’re looking to rent, lease or sublease office, loft, showroom or medical space, we can assist you.
Our company has successfully negotiated leases for tenants in a variety of industries, including the following:
Finding Competitively Priced Office Space in Manhattan
Finding competitively priced office space in Manhattan within a desirable neighborhood that’s a right fit for your business can be a challenge. Even in a slow real estate market, there is competition for affordable NYC office space. It is not uncommon for landlords of commercial buildings to receive multiple offers from prospective tenants on attractive and well-located office space.
Despite a slow economy, global businesses, public corporations, financial institutions and startups still require office space in Manhattan, and leasing activity for such rentals has increased substantially since early 2010. As a result the vacancy rate for Manhattan office space has remained relatively low compared to other major American cities.
Companies generally prefer to invest capital in their business operations rather than purchase real estate. As a result, most available space - whether intended for office, showroom, loft, medical or retail use—is available as rental space rather than for purchase. While there are commercial condominiums and cooperative spaces available for sale, they comprise a small fraction of the total commercial real estate marketplace.
How Metro Manhattan Office Space Can Help You
Because of New York City’s competitive and complex commercial real estate market, landlords can get the best of uninformed business tenants. We will help you maneuver this challenging commercial real estate market so that you don’t get taken advantage of or waste time or energy. Once we have narrowed your property search down to the best spaces in the best buildings, we will work with you to draft offers, negotiate business terms, and help you evaluate counterproposals from building owners to ensure that you acquire the best space at the best value.
New York City is the largest and most complicated commercial real estate market in the United States. To navigate this market, find the ideal space with a tenant friendly landlord, and negotiate the best business terms, you need the assistance of a savvy commercial brokerage firm like Metro Manhattan Office Space.
There is far more to a commercial lease than the per Square Foot rental. If you’re not careful you can get nickeled and dimed by your landlord for costs ranging from your security deposit, to your electric charges, to your improvement allowances, to your over-time air conditioning.
Our objective is to find the right spaces and negotiate superior business terms on behalf of the business tenants we represent. We then cooperate with your lawyer to make sure that favorable lease language is negotiated. You cannot rely on your attorney alone, it takes an experienced real estate broker, like Metro Manhattan Office Space, who is familiar with the surrounding office space buildings and market prices to give you the negotiating power you deserve.
Major Markets and Neighborhoods
Most New York City office space is located in the borough of Manhattan, though some commercial space is available in Queens, Brooklyn and the Bronx. The commercial real estate market in Manhattan is divided into three major sectors: Midtown, Midtown South and Downtown. New York City's largest skyscrapers are found in these neighborhoods, and they contain both Class A and B commercial office spaces.
Some key commercial office space areas within the three major sectors include the Plaza District, Wall Street, Union Square, Grand Central, Penn Plaza, Times Square and Hudson Square. Each area is different and serves different business needs. As your broker, we will help you find the area that is best suited for your business.
Classification of New York City Commercial Property
New York City office space is classified as Class A, Class B and Class C buildings.
Class A Buildings:
• Lobbies attended by staff 24/7
• Air-conditioned lobbies and common areas
• Property management on premises
• A high level of capital improvements
• Cleaning services included in the base rent
• Advanced fire alarm and security systems
Class B buildings:
• Traditional lobbies and corridors
• 24/7 tenant access
• Attended lobbies, mostly during business hours
Class C buildings:
• These properties are usually former warehouse or manufacturing buildings that have been converted for office use. The lobbies may range from nice and acceptable to bare bones and functional. In some cases, lobbies are attended. Class C buildings offer the most affordable NYC office space.
Metro Manhattan Office Space Brokers Have Access to Every New York City Commercial Space
Our listing database contains 98% of all available office, retail, loft, medical and showroom space in New York City. We have longstanding business relationships with all major landlords and managing agents.
Metro Manhattan Office Space, Inc. has been helping businesses and organizations successfully acquire office, loft, showroom, and medical space in New York City since 2004. We believe that finding your ideal commercial space is only the first step, we will then help ensure that all of your interests are being protected. We know that avoiding excessive costs can mean the difference between success and failure in your business.
Contact Alan Rosinsky, Principal Broker of Metro Manhattan Office Space, Inc., for a FREE consultation today: (212) 447-5403.