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.
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

Posted in Understanding Commercial Lease Language.
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.
Finding Office Space for Your Startup in “New Tech City”

You know the names: Google, Yelp, Foursquare. You may also know the real estate associated with them: Chelsea Market, Union Square, SoHo. All three, combined with a swarm of other NYC tech start-ups to open their doors in Manhattan in recent years, have helped New York City earn the suitable nickname “New Tech City.” In a recent study by the Center for an Urban Future, New York City was named the fastest-growing market in the country for Internet and media technology companies with more than 400 new companies opening between 2007 and 2011. The trend will likely continue as the city breaks ground on Cornell NYC Tech, a multi-million dollar satellite campus of Cornell University on Roosevelt Island that is… Continue reading

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

Posted in Commercial Leasing 101Manhattan Office Space.