NASDAQ listed Seven Stars Cloud Group (SSC) has signed a seven-year lease for the entire 19th floor at 55 Broadway with an option to acquire the 18th floor. The firm consolidated several temporary offices to establish their Lower Manhattan headquarters. The landlord is building out the premises on behalf of the tenant. Alan Rosinsky of Metro Manhattan Office Space represented Seven Stars Cloud Group. The landlord was represented by CBRE.  55 Broadway is a 1982 Class A office building. It is located in the heart of the Financial District off Trinity Place. The building is occupied by such other tenant’s as GSA Group, Cancer Research Foundation and Security Mutual Life Insurance. Metro Manhattan worked closely with Seven Stars President Bob… Continue reading

Posted in Notable Leases.
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.
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.
Six Ways A Commercial Real Estate Broker Saves You Money

Virtually every business in Manhattan – and everyone who wants to start a business in New York City – will venture into the commercial real estate market at some point. They make be looking to rent office space, loft space, retail space or showroom space. It is not a journey to take alone. The New York City real estate market boasts some of the savviest landlords, property managers and leasing agents in the world, so it’s important to have the expertise of a commercial real estate broker on your side. An Experienced Realtor Can Help While you may be a smart business owner and veteran entrepreneur, you are likely a neophyte when it comes to finding and negotiating for commercial… Continue reading

Posted in Brokers & Other Real Estate Professionals.
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.