What if I outgrow my space?

If business is booming and you need to expand into commercial office space NYC, the first thing you should do is pat yourself on the back. You deserve at least that much if you have made a big enough splash in New York to necessitate expansion. More demand for your goods or services requires hiring more employees to keep the business running smoothly. Of course, more employees means additional square footage, and unless you figure out how to use the ceiling, that means relocating to a bigger space. So what happens when your business outgrows its current commercial office space NYC but the lease term stretches endlessly before you? Don’t let this conundrum spoil the celebration. What to do When… Continue reading

Posted in Understanding Commercial Lease Language.
Mistakes Tenants Make

Mistakes when leasing NYC office space can be costly, especially if you are renting in high-demand commercial real estate areas like Manhattan. The New York City commercial real estate market is different from that of smaller cities. The terms and conditions of lease agreements can vary greatly from what small-market lessees are accustomed. Gaining a better understanding of how commercial real estate works in New York City can help business owners to avoid the most common mistakes made in leasing office space in this vibrant metropolis. Learn the Language of NYC Office Space One of the most common mistakes tenants make when considering NYC office space options is not understanding how certain terms and phrases are used within the context of… Continue reading

Posted in Understanding Commercial Lease Language.
nights and weekends

When the work piles up and deadlines run tight, sometimes it’s hard to squeeze it all in between 9:00 am and 5:00 pm. And let’s not discount the impending power of the pesky emergency. Clients make last-minute demands. Assistants get sick. Packages get delayed. Stuff happens. And when it does, the last thing you need is the added worry of being locked out of your commercial office space. Commercial Office Lease Provides the Details Landlords who rent commercial office space in New York City know that many companies have staff working after hours who need 24/7 access to their offices.  This is why most New York landlords include language a commercial office lease that gives a tenant entry to office… Continue reading

Posted in Understanding Commercial Lease Language.
NYC Office Space Security Deposit

When you rent New York commercial real estate, landlords require payment of a security deposit at the time of lease signing. It will be returned to you at the end of the lease provided you comply with all relevant lease terms. Unlike residential properties, commercial real estate landlords have much greater freedom in the amount of security deposit they can demand. Manhattan real estate security deposits usually range from two to 12 months depending on the landlord’s perceived financial risk. Established companies with strong financial statements will pay less security than will start-up ventures that are just establishing their profitability. A respected commercial real estate agent will help you find the best value for your budget and credit history and… Continue reading

Posted in Understanding Commercial Lease Language.

Good for you!  You’ve found an ideal office space in New York City.  You like it but can you really afford it?  Of course, you are wondering. But do you know that, on the other side, the landlord is probably thinking the same thing?  He knows you are considering submitting an offer to lease the space but he wonders if you can pay the rent on time and over the long haul.  ASSESSING THE CREDITWORTHINESS OF AN NYC BUSINESS TENANT Landlords are conservative business people and don’t like taking chances unless they’re convinced that they’ll receive timely rent payments throughout the term of a lease.  So, if you see a space that works for you, you still have a long… Continue reading

Posted in Commercial Leasing 101UncategorizedUnderstanding Commercial Lease Language.