What Is the Role of a Real Estate Attorney?

New York City commercial leases for office, loft , retail or medical space  are complicated legal documents that  can range from 15 to more than 100 pages in length depending on the particular landlord. Therefore, it is in the tenant’s best interest to hire a New York real estate attorney to review a lease and to negotiate modifications on the tenant’s behalf with the landlord’s attorney. The role of a New York real estate attorney usually begins after a lease has been issued, and after the landlord’s agent and the tenant’s broker have reached agreement on lease business terms. Business terms may consist of base rent, any monthly pass-throughs, annual rent escalations, a proportionate share of real estate tax increases,… Continue reading

Posted in Brokers & Other Real Estate Professionals.
Multiple Real Estate Brokers: Help or Hindrance?

Some business owners assume that contacting multiple commercial real estate brokers is better than seeking the services of one agent, thinking that this increases the number of properties they visit. While this makes sense in some ways, it is often not the case, especially in Manhattan. In New York City, all commercial real estate brokers source their listings from one property database, so multiple brokers will often show the same spaces to the same prospective tenant. Commercial vs. Residential Real Estate Landlords, leasing agents and property managers all source their listings from an online database exclusively accessible to professionals in the commercial real estate community. This listing service displays at least 99 percent of New York City commercial listings. Since… Continue reading

Posted in Brokers & Other Real Estate Professionals.