NYC Office Leasing Shows Strong Start to 2025
NYC Office Leasing Shows Strong Start to 2025 Office leasing in New York City experienced a significant upswing in the first quarter of 2025, building on the momentum gained in the fourth quarter of 2024. This positive trend marks a notable recovery compared to the slower pace observed since the pandemic. ➡️ For more on the […]
Why Nonprofits are Choosing Office Condos
Why Nonprofits are Choosing Office Condos For nonprofit organizations looking to maximize their impact, owning real estate can be a powerful move, especially given their tax-exempt status. However, the scale and ongoing costs of owning an entire building can be daunting. Office condominiums present a compelling alternative, offering a sweet spot of ownership benefits without […]
Why Isn’t the Landlord Responding to My Proposal?
Why Isn’t the Landlord Responding to My Proposal? As a commercial real estate broker, I often wear two hats, representing both tenants and landlords. When I’m working for a landlord, one frustratingly common scenario is a promising tenant being represented by an unqualified broker. It fills me with angst because I can see the likely […]
NYC Office Build-Outs: Who Pays the Bill?
NYC Office Build-Outs: Who Pays the Bill? Negotiating the build-out for a new office space in New York City has evolved significantly. While tenants historically received a tenant improvement allowance (TI) and managed the construction themselves, the current trend in NYC office leasing often sees landlords taking on the responsibility for both the cost and […]
Can Your Security Deposit Cover Your Last Month’s Rent in New York?
Can Your Security Deposit Cover Your Last Month’s Rent in New York? It’s a common question for tenants nearing the end of their lease: can I simply use my security deposit to pay for the final month’s rent? It seems logical. The money is already with the landlord, so why go through the hassle of […]
Where Do NYC Rents Stand Post Covid 2025?
Where Do NYC Rents Stand Post Covid 2025? As like most things in life there are a lot of nuances in this answer and the statistics. Unlike the past two market downturns which occurred after the dot.com bubble and the financial crisis, the average asking rents per the market stats did not decline as significantly. […]
How Long Does It Take to Find a New Office Space in New York City
How Long Does It Take to Find a New Office Space in New York City Finding a new office space in New York City is never a quick and easy process and the length of time it takes depends on many factors. The below is a breakdown of the process along with a timetable of […]
The 15 largest NYC Leasing Transactions of 2024
The 15 largest NYC Leasing Transactions of 2024 The below list are the 15 largest leasing transactions of 2024. The one things that stands out the most to me is that only 3 of these transactions were relocations to a new a building. ➡️ For more insights into why tenants are favoring renewals and expansions […]
When to Use the Blend and Extend Strategy with Your Office Lease.
When to Use the Blend and Extend Strategy with Your Office Lease. The overall availability rate in Manhattan is improving, but still at historically high levels. Given these tenant-favorable conditions, organizations with expiring leases in 24-36 months are often able to capitalize and negotiate for favorable rents and concession packages. How is this possible? The […]
The Harlem Office Submarket
The Harlem Office Submarket Harlem is a submarket of just over 3 mm sq ft of commercial space. The office market is primarily centered around 125th Street from Lexington Avenue to Frederick Douglass Blvd. The office stock combination of historic properties such as the Theresa Tower Alhambra ballroom building on the westside, and the Lee […]