If you are reluctant to sign a multi-year lease or do not require a large space, serviced office space is a practical and cost-effective solution for your Manhattan real estate needs. The operators of executive office space in Manhattan sign long-term leases for large spaces and then divide them into smaller sizes. Your company can rent a single office or multiple offices in such a facility.
Should you locate your organization in an executive office space in Manhattan, you will share common areas such as a reception area, corridors, bathrooms and even conference rooms with other occupants of the facility.
Turnkey Office Space Solution
Acquiring executive office space in Manhattan is easy. Your office is typically delivered ready-for-use, furnished and equipped with everyday needs such as phones, fax machine and Internet connection.In addition cleaning services are often provided several times a week and receptionists answer your phone lines.
When you relocate to an executive office space, you don’t need to hire a real estate attorney to review the licensing agreement. The licensing agreement for an executive office space is short and simple, unlike the long and complicated leases you must sign when you rent space from a commercial landlord.
Finding Executive Office Space
There are several major operators of executive office space locations in Manhattan. Facilities are available in virtually every New York City neighborhood, including Midtown, Midtown South and Lower Manhattan. Regus, Powerspace, Corporate Suites and others provide shared space in Class A and Class B properties. Numerous Manhattan Class A buildings offer shared space, including the Chrysler Building, the Graybar Building and the Empire State Building.
Is a Shared Space Right for You?
It really depends on your circumstances. If your company requires short-term office space (less than a year), then an executive office suite is probably an ideal solution. For instance, if your firm is based out of state and has a short-term assignment in Manhattan, executive office space represents an ideal solution. If your company is a start-up and you need to see how the business develops before committing to a long-term office space lease, executive office space is probably a good choice.
If your company is established for many years, you expect to be in business for the long-term and the number of personnel occupying your space exceeds three or four, you may be better off signing a Manhattan office space lease directly with a landlord rather than acquiring a shared executive office space facility.
A licensed commercial real estate broker such as Metro Manhattan Office Space can help you determine the most practical and cost-effective solution for your company or organization. Please call Principal Broker Alan Rosinsky at 212-447-5403 with any questions about executive office space in Manhattan.