Manhattan NYC Office Space For Rent

The New York City commercial real estate market is enormous, accounting for about 15 percent of our nation’s total. And while it’s true that Manhattan is home to the heart of that commercial real estate market, New York City office space is abundant in areas beyond Manhattan. Business owners also find lease and purchase opportunities in the boroughs of Queens, Brooklyn, Staten Island and The Bronx. Recent developments have seen a swell of demand for office space in neighborhoods such as Long Island City in Queens, downtown Brooklyn and Brooklyn Heights. Real Estate Incentive Programs Fuel Demand For a number of years, the New York City Economic Development Corporation has offered several incentives and tax exemptions to companies that lease… Continue reading

Last update
Posted in Manhattan Office Space.
Renting Office Space As A Start-Up Business

Few commercial real estate markets in the world rival that of New York City, where locating and leasing the right office space is paramount for a start-up business in NYC. From the Upper East Side to Battery Park, start-up entrepreneurs will find that there is intense, fast-moving competition for desirable Manhattan office space for rent. Of course, the ideal office space for a web-based start-up is vastly different than the ideal location for a financial services provider. Tech start-ups often prefer office spaces with open floor plans, high ceilings, and concrete or wooden floors, properties more commonly found in SoHo, Tribeca, Chelsea, Union Square, the Flatiron District and the Garment District. Meanwhile, business owners in more conservative industries such as… Continue reading

Last update
Posted in Commercial Leasing 101.
Short Term Versus Long Term Office Space Lease

For many commercial tenants in New York City, the decision to sign a short-term vs. a long-term lease is critical. The terms for Manhattan commercial leases generally range from two to 15 years. Because of the costs required to “re-market” a property – including legal fees, build-out costs, and rent lost during vacancy – landlords generally require a minimum two-year lease term. On the other end of the spectrum, landlords are hesitant to sign leases with a duration exceeding 15 years due to uncertainty about future rents. For tenants seeking commercial office space in Manhattan, there are various advantages and disadvantages associated with short- and long-term Manhattan commercial leases. Here are a few points that tenants should consider before signing… Continue reading

Last update
Posted in Understanding Commercial Lease Language.