New York City Real Estate Articles

• What Types of Coworking Space Can You Rent in NYC?

  New York offers more kinds of coworking space than the word “coworking” suggests. The same building can hold a hot desk rented by the day, a private team room on a twelve-month term, and an executive suite with its own reception. Knowing which category you are actually shopping for is most of the work, because it decides the price, the term and the amenities long before you tour anything. Below is an overview of the options available in the city,…

  Read more of What Types of Coworking Space Can You Rent in NYC?

• What is the Best NYC Coworking Option for You?

  Why Choose Coworking Over a Traditional Lease? With the recent buzz over “coworking”, many businesses, large and small, have expressed substantial interest in the growing trend. Coworking, traditionally defined, is when a business pays for a shared space on a monthly basis. This shared space ranges from private offices to open spaces where businesses work outside the privacy of a private office. The nature of the shared space is dependent on the coworking provider, many of whom have their own…

  Read more of What is the Best NYC Coworking Option for You?

• Why Choose a Tenant Broker?

  When looking for NYC office space the methods of actually doing so include, either hiring a broker, or conducting an online search. The method of conducting an online search by oneself consists of a number of deficiencies. The first being the lack of listings that actually get posted onto the web. The majority of NYC office space listings are not posted on the internet. Furthermore, the spaces that are marketed online may not always be the best space for you,…

  Read more of Why Choose a Tenant Broker?

• Do You Even Need a Broker After All?

  When the question of the necessity of brokers is raised, one must first answer the very pressing question on what brokers actually do, before the first question can be addressed. Brokers in general are the entities that bring the landlord and the tenant together to form a deal. The deal usually consists of the tenant leasing space from the landlord. The broker will typically negotiate the lease term agreement and find either the tenant the right landlord, or vice versa.…

  Read more of Do You Even Need a Broker After All?

• Is Coworking More Affordable Than a Traditional Lease?

  Coworking has become increasingly popular amongst prospective New York City tenants, who are looking for their ideal space. The critics of coworking typically point out how harsh economic times come underway companies become more expense orientated and examine their balance sheets more thoroughly. What they find is that they are paying more for the same amount of space when they choose coworking. Traditional leases usually cost less for the same amount of space than co-working solutions. In this way, the…

  Read more of Is Coworking More Affordable Than a Traditional Lease?

• How to Find the Best Office Lease in NYC?

  There are a number of ways a business or an individual can find space for lease office NYC. These multifarious ways include searching online and searching through a broker. The choice of methods depend on how serious one’s lease office NYC search is. For the best results an online search would not be preferred due to the lack of listings that actually end up being posted on the web. For the best method of locating office space in NYC hiring…

  Read more of How to Find the Best Office Lease in NYC?

• What Are Ways Tenants Can Save Money on Their Lease?

  The most obvious way in which tenants are able to save money on their lease NYC office space is through negotiating the terms of the lease. The issue with this approach is that for the majority of tenants, negotiating with the landlord on one's own is usually catastrophic. This is due to the fact that landlords typically know more about commercial real estate than the average prospective tenant. To deal with the lease terms and negotiations would steal valuable focus…

  Read more of What Are Ways Tenants Can Save Money on Their Lease?

• Can you Find the Best Office Space Online?

  There are a number of methods in which one can find their ideal NYC office space. The methods differ as to how effective they are. The first method consists of partnering with a tenant broker, whilst the second approach consists of conducting individual online searches. The majority of office listings will not be posted online. There is just no guarantee your ideal space will be posted on the web. The probability of such an occurrence is just too low. The…

  Read more of Can you Find the Best Office Space Online?

• What Kind of Brokers Are There?

  The validity of brokers may come into question by tenants when they receive poor service. The issue really comes down to the type of broker which gets utilized. There are a number of different types of brokers which one can go with. These include landlord brokers, dual representation brokers, and tenant brokers. All of these brokers have their own subsequent interests in mind. In the case of landlord brokers, this type of broker seeks to find a tenant willing to…

  Read more of What Kind of Brokers Are There?

• What do Brokers Actually do Afterall?

  Different broker types have different purposes within commercial leasing. Depending on the type of broker there is a correlating purpose the broker executes. The three main types of brokers within commercial leasing include the tenant broker, the dual representation broker, and the landlord’s broker. The tenant broker finds the tenant the best NYC office space for lease. The purpose of this type of broker is to represent the tenant exclusively. When a prospective tenant needs space for their business, they…

  Read more of What do Brokers Actually do Afterall?

• Why are Commercial Leases so Expensive?

  The general New York City real estate market trend has been the rising cost of office leases. The question becomes, why is the price to rent NYC office space rising so dramatically? The lease on office space is typically a business’s largest expense. That being said, the rise in price has suffocated a number of businesses. The culprit in the rise of New York City lease expense is the almost constant demolition of office space which has been occurring throughout…

  Read more of Why are Commercial Leases so Expensive?

• Can You Negotiate Your Lease Expense Down?

  With the ever-increasing price of New York City commercial real estate rising due to the conversion, and demolition of office space, tenants are placing more focus on lease expenses. When looking for lease NYC office space, the options are so vast that the search can be overwhelming. Where does one start? The answer to this question lies in first examining the best methods of finding office space. The online method of searching for office online independently usually does not yield…

  Read more of Can You Negotiate Your Lease Expense Down?

• Major infrastructure investment is desperately needed in NYC

  However, the costs due to uncompetitive bidding and arcane rules and regulations make costs 2-7 times more expensive than other world cities. Subways are using 1910 technology. They cannot run at higher capacity due to old switches which the MTA says can be repaired in the next 20 years. Why repair and not use military grade WIFI in the Tunnels? They desperately need to fix the train tunnel damaged during sandy. Power levels from corroded cables reduce capacity and tunnels…

  Read more of Major infrastructure investment is desperately needed in NYC

• What size firms are appropriate for shared office concepts?

  Conventional thinking was that small and rapidly growing companies, or companies that were uncertain about longevity of project would rent shared office space. This limited the shared office market to companies or divisions under 10 people. Now huge firms like Amazon who just rented out an entire WeWorks at 34th Street and Microsoft rent shared office space near the Watson project in the east village. Time will tell how many other firms follow.

• We works to take over 75% of the existing Lord and Taylor store.

  This shows how cash hungry and struggling the retailers are. This also shows the depth of the market for shared office concepts. WeWorks continues to expand and is filling their facilities. That is a great indication of market depth. WeWorks is just one of many providers of co-working centers.

• Amazon considering NYC

  New York City submitted a bid to get the 2nd Amazon headquarters which means 50,000 jobs. New York City has 4 locations or areas where they could build and an existing amazing transportation system. New York City also has a deep bench of talent for Amazon to draw on and is therefore a likely city to be selected. Amazon recently announced they were hiring 2,000 employees in N.Y. for advertising and will move to the former Skyrink building.

• New York City making hotel rooms harder to get approved in Manufacturing zones

  The city is about to make it harder to build hotels in New York City manufacturing zones. The current proposal will require a special permit. This will increase costs and time to get sites ready. The bigger problem is this will give unions a greater opportunity to make the job site union which will drive up costs for new hotel rooms. This law will make the existing inventory more valuable as the city is creating a higher barrier to entry.

• Major office Trend affecting the New York Office Market

  Amount of space per employee continues to decline. 20-30 Years ago the average density was 200-300 Rentable Square feet per person. 10-20 years ago size declined to 150-250 RSF per person. 5 Years size declined to 100-200 RSF. per person … and the trend continues 2. Destruction and conversion of existing office stock to residential and hotels. !4 million square feet of office space was removed from the Manhattan office market to alternate uses. 3.Limited new construction at affordable price…

  Read more of Major office Trend affecting the New York Office Market

• Retail Carnage continues

  With Amazon’s latest bid for Wholefoods, the consumer should start to see consolidation in the supermarket space. Purchase price of Whole foods 13.7 billion. Wealth destruction of other supermarket chains $40 billion. That indicates the amount of carnage expected to come in the near future. What is Amazon going to go after next pharmacy??

• More store closings - Teavana

  Starbucks Coffee’s is closing all its 379 Teavana stores by the spring of 2018.