Renting Office Space As A Start-Up Business

Few commercial real estate markets in the world rival that of New York City, where locating and leasing the right office space is paramount for a start-up business in NYC. From the Upper East Side to Battery Park, start-up entrepreneurs will find that there is intense, fast-moving competition for desirable Manhattan office space for rent. Of course, the ideal office space for a web-based start-up is vastly different than the ideal location for a financial services provider. Tech start-ups often prefer office spaces with open floor plans, high ceilings, and concrete or wooden floors, properties more commonly found in SoHo, Tribeca, Chelsea, Union Square, the Flatiron District and the Garment District. Meanwhile, business owners in more conservative industries such as… Continue reading

Posted in Commercial Leasing 101.
8 Key Questions

Before calling a New York City commercial real estate broker to help you rent Manhattan office space, ask yourself these eight key questions. Your answers will facilitate your search and help you find the best space at the most favorable lease terms. 1. How much Manhattan office space do I really need? Use our office space calculator to determine how much square footage you require. Input the desired number and size of offices, number of cubicles, conference rooms, bullpen areas, break rooms and reception areas, and our calculator will generate an approximate square footage. Take the following factors into account when determining ideal square footage: Existing head count in your space Projected future growth of your staff Square footage of your… Continue reading

Posted in Commercial Leasing 101.
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.