How Long Will It Take You To Lease a New Office In Manhattan? The commercial leasing process in New York City generally lasts anywhere from a few months to a year. In order to estimate the length of time it takes to acquire a new space, it is essential to understand the key steps involved; from determining your architectural needs, searching for the right space, negotiating business terms and lease language, to completing construction. Contact a commercial real estate expertat (212) 447-5403 who can explain the steps below in detail and help you lay out a course of action to locate the perfect Manhattan office rental for your business or organization. The timeline described below applies to any types of commercial real estate rental in New York City,… Continue reading

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Posted in Commercial Leasing 101Manhattan Office SpaceUnderstanding Commercial Lease Language.
Compared to Loft buildings in Midtown South, Class A buildings in Midtown NYC offer Real Value

Something very interesting is occurring in the Manhattan commercial office space market: until recently, rents in class A office buildings all over the city commanded a big premium over rents in class B and C loft buildings in Midtown South. Conventional office buildings, often landmark like The Graybar Building, One Grand Central Place or 370 Lexington Avenue would cost business tenants up to 40% more to lease than side street loft buildings in neighborhoods such as Madison Square, the Flatiron District and Chelsea. Chelsea, Flatiron District No Longer Inexpensive But this situation has changed dramatically. Today, you may pay just as much to lease offices in a former industrial building in The Flatiron District as for an office rental in… Continue reading

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Posted in Manhattan Office Space.
You can lease Class A, Class B or Class C office space in New York City

Commercial buildings in Manhattan are informally classified according to a class rating system that looks at the quality and amount of amenities offered. These standards determine the desirability and price of a rental or leased space, hence Class A, B or C. Let’s talk about the core differences between a Class A, Class B and Class C buildings. These differences will help you decide what you want, need and can afford. Now understand, this is New York City commercial real estate. Don’t expect this to be easy or clear-cut as with everything here, there are exceptions to every rule. But if you put yourself in the hands of Metro Manhattan Office Space we can show you the ropes and scope… Continue reading

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Posted in Commercial Leasing 101Manhattan Office Space.
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

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Posted in Commercial Leasing 101.
Short Term Versus Long Term Office Space Lease

For many commercial tenants in New York City, the decision to sign a short-term vs. a long-term lease is critical. The terms for Manhattan commercial leases generally range from two to 15 years. Because of the costs required to “re-market” a property – including legal fees, build-out costs, and rent lost during vacancy – landlords generally require a minimum two-year lease term. On the other end of the spectrum, landlords are hesitant to sign leases with a duration exceeding 15 years due to uncertainty about future rents. For tenants seeking commercial office space in Manhattan, there are various advantages and disadvantages associated with short- and long-term Manhattan commercial leases. Here are a few points that tenants should consider before signing… Continue reading

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Posted in Understanding Commercial Lease Language.