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Optimal Spaces in the News



Should NYC Landlords Take a Gamble on Short-Term Leases for Retailers? Should NYC Landlords Take a Gamble on Short-Term Leases for Retailers?
Footwear News
It’s no secret that New York City retail real estate is a difficult market right now, with empty storefronts a common sight in even the most frequented shopping neighborhoods. While some brokers are praising the popularity of pop-up stores as a means of rejuvenating the market, a recent report by Optimal Spaces argues that these leases are simply obscuring the true vacancy rate in Manhattan.
Billionaire Shows How Small Buildings in NYC Can Mean Big Money Billionaire Shows How Small Buildings in NYC Can Mean Big Money
Bloomberg
“It's not overwhelming, it's not overbearing,” Stephen Sunderland, senior managing director of New York real estate brokerage Optimal Spaces, ...
Optimal Spaces Announces the October 2014 New York Office and Retail Market Overview Optimal Spaces Announces the October 2014 New York Office and Retail Market Overview
PR Newswire
New York Office vacancies increased slightly in Midtown and Midtown South due to new construction at the Hudson Yards.
Optimal Spaces: November 2013 New York City Office, Retail and Industrial Market Report Optimal Spaces: November 2013 New York City Office, Retail and Industrial Market Report
prweb
Optimal Spaces, Inc. has just released their November 2013 Office, Retail and Industrial Market Report for Manhattan. The report gives the reader, both novice and experienced professionals, an overview of the Manhattan commercial Office Retail and Industrial real estate market trends.
Manhattan’s Midtown is in a real estate crisis. Solution: The Pop-Up Hotel Manhattan’s Midtown is in a real estate crisis. Solution: The Pop-Up Hotel
4Hoteliers
Data provided by Crain’s New York, Optimal Spaces, and Bloomberg Business Week
Manhattan's Low-Rent Dining in Hiding Manhattan's Low-Rent Dining in Hiding
Wall Street Journal
... says Stephen Sunderland, senior managing director with commercial real-estate broker Optimal Spaces. And most delis are paying far less.
Commercial landscape in Manhattan: a focus on Hudson Yards Commercial landscape in Manhattan: a focus on Hudson Yards
Frederic Maingois On Real Estate
Similarly to the development of Canary Wharf, Hudson Yard expansion project has a leading developer
Green Acres Is the Place for Macerich; The Deal Sheet - Commercial Real Estate Green Acres Is the Place for Macerich; The Deal Sheet - Commercial Real Estate
Bisnow
American Development Group, repped by Optimal Spaces' Steve Sunderland, leased 6,200 SF for 10 years at the condo redevelopment Park Union at 910 Union St in Park Slope and will operate a Mozarts and Einsteins preschool.
Mozarts and Einsteins Stroll Into Park Slope Mozarts and Einsteins Stroll Into Park Slope
Commercial Observer
Steve Sunderland of Optimal Spaces represented Mozarts and Einsteins in the transaction. The broker for the landlord, American Development Group, LLC, was not disclosed, but the landlord was represented by an in-house broker.
Manhattan's Office Market shines, driven by stronger hiring, but vacancy rates remain high overall and will go higher Manhattan's Office Market shines, driven by stronger hiring, but vacancy rates remain high overall and will go higher
PBT Consulting
Here's what Optimal Spaces says about the Manhattan Commercial Office Market:
The NY Fed Is Buying Its Own Building - Business Insider The NY Fed Is Buying Its Own Building - Business Insider
Business Insider
At $357 per square foot (for 558,659 sq. ft.), the Fed got a pretty decent deal, according to Stephen Sunderland, owner of Optimal Spaces Inc., .
Property Management Companies Property Managers And Landlords – Pop Up Store Phenomenon Property Management Companies Property Managers And Landlords – Pop Up Store Phenomenon
Simplifyem
Stephen Sunderland, Senior Managing Director and Founder of Optimal Spaces a Tenant Representative Commercial real estate brokerage firm, has been finding value for retail clients for 27 years. Most recently during the downturn, the pop up phenomenon occurred.
Whatever: Ironic Clothing Peddler Pens 227 Mulberry Lease Whatever: Ironic Clothing Peddler Pens 227 Mulberry Lease
Observer
Sal Ferrigno and Richard Gelber of RKF represented the landlord, the Hakimian Organization. The tenant was represented by Karen Spielberger of Optimal Spaces.
Commercial Real Estate Research Shows Landlords are Loosening Terms Commercial Real Estate Research Shows Landlords are Loosening Terms
Newswire Today
"Even though asking rents have not fallen dramatically, taking rents have dropped", said Stephen Sunderland, managing director at Optimal Spaces, a New York tenant representative brokerage firm. "There are fewer tenants in the market and if landlords want to complete leases, they have to effectively lower the rents."
Landlords are Loosening Terms on Leases Landlords are Loosening Terms on Leases
New York City Commercial Real Estate News
Stephen Sunderland. a market research VP at Optimal Spaces, highlighted the a few trends in his analysis of the NYC office market.

Why Optimal Spaces Tenant Broker

  • Lease negotiation: full terms, renewals, expansion options
  • Cost analysis, inventory identification, negotiating scope
  • Risk mitigation against hidden pitfalls

Cost Savings

  • Negotiate 30+ leasing points to prevent hidden costs
  • Save 10–15% on total leasing costs
  • Save 100–200 hours filtering unviable spaces
  • Property access via broker databases and networks (off-market, subleases, future availability)

Alone or With Other Brokers

  • Managing agents owe fiduciary duty to landlords, seeking maximum price and terms rather than tenant savings.
  • Inherent conflict of interest as most brokers represent landlords
  • Risk of weaker terms and overlooked hidden costs
  • Heavy workload falls on you while best spaces are missed

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