Where Did Manhattan’s Vacate Office & Loft Space Go?

Tenants in the market to relocate or acquire expansion space in New York City are usually surprised to learn how limited vacant office space in Manhattan really is. On top of that, they are often surprised at how rent rates have climbed significantly. After dipping during the recession, NYC commercial rental rates are now approaching their 2007 peak and there is now a scarcity of reasonably priced vacant office space in Manhattan. As recently as late 2011, there was still a pretty good selection of vacant office space in Manhattan. Much has changed in a year. Due to increased scarcity and higher pricing, the commercial real estate market by late 2012 had become challenging for businesses seeking space. Supply-and-Demand Dictates Rent… Continue reading

Posted in Manhattan Office Space.
Moving Offices in Manhattan

A Manhattan office relocation can be a tricky and often overwhelming experience. There are so many moving pieces to a business relocation that in order to be up and running in your new space on time, careful planning months ahead of time is crucial. If you’re planning a Manhattan office relocation in the next six months, here is a checklist of important, but often overlooked, must-do tasks. 60 – 90 Days Until “The Move” Assign an internal project manager to oversee the entire move. Make sure your project manager has the time and energy to devote to this demanding project. Set up a weekly meeting with all parties involved for status updates. Find out from your commercial real estate broker the voice,… Continue reading

Posted in Commercial Leasing 101.
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.
The right office creates an environment of trust and stability for your clients.

Manhattan office space prices are mainly set by location (neighborhood), access to public transportation, office building rating (Class A, Class B, Class C). Improvements that the landlord agrees to make to space for a new tenant also counts. Landlords quote Manhattan office space prices on a per Square Foot basis rather than on a total monthly cost. But you can easily calculate your monthly rent: multiply the per annum Square Foot price by the square foot measurement of the space and then divide by 12. As of August 2013, office space pricing in Manhattan ranges from a low of $28.00 per Square Foot to $140 per Square Foot per year.  Inexpensive commercial office rentals are located in The Garment District,… Continue reading

Posted in Manhattan Office Space.
Checklist for Your NYC Office

The location of your business is deeply tied to its success, but finding a new rental space can be complicated. What is the best way to conduct a New York office search? How can you find the best office space in Manhattan? Extending your current lease or seeking to expand the space you rent in your current building are great ways to avoid the costs incurred during a relocation. But if relocation is necessary, there are cost-effective measures you can take to make your New York office search financially palatable. Use the checklist provided below to arm yourself with answers to some of the most important questions. Your New York Office Search Checklist What are your goals for your rental… Continue reading

Posted in Commercial Leasing 101.