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 […]
Why Length of Lease Matters
Why Length of Lease Matters The simple answer is the cost of the construction. To build out a brand-new office space costs the Landlord anywhere from $100 – $150 per sq ft depending on pre-construction condition and quality of finishes that the Landlord elects to use. ➡️ For more insights into how deal economics impact NYC leases, […]
Things for Non profits to Consider when Leasing Office Space
Things for Nonprofits to Consider when Leasing Office Space For nonprofits, real estate should bolster, not compromise the mission. So, it is crucial to meticulously identify the organization’s wants and requirements before implementing a significant real estate shift to make sure your mission is protected. Please contact us with any questions or requirements. Paul.Walker@cbre.com | […]
The Strength of Manhattan’s “Better Buildings” in the Midtown Core
The Strength of Manhattan’s “Better Buildings” in the Midtown Core While Manhattan’s overall office availability rate stands at 18.5%, the Midtown Core’s “Better Buildings” demonstrate remarkable resilience, with an availability rate of only 9.9%. The Midtown Core, defined by the Grand Central, Sixth Avenue/Rockefeller Center, Fifth Avenue/Madison Avenue, Park Avenue, and Plaza District submarkets, exhibits […]
The Latest on Manhattan Office Conversions: A New Era for NYC Real Estate
The Latest on Manhattan Office Conversions: A New Era for NYC Real Estate The landscape of Manhattan real estate is undergoing a significant transformation, driven by the evolving needs of tenants and the persistent demand for housing. Office conversions are at the forefront of this change, with millions of square feet being repurposed for […]
Deal Economics in a NYC Lease: What You Need to Know
Deal Economics in a NYC Lease: What You Need to Know Office space is often a company’s second-largest expense, after salaries. Therefore, understanding the financial terms of a lease is crucial for maintaining profitability. Here’s a breakdown of typical economic terms in NYC leases: Class A Buildings In Class A buildings, where rents are typically […]
Direct Lease vs. Sublease: Weighing the Pros and Cons in NYC’s Office Market
Direct Lease vs. Sublease: Weighing the Pros and Cons in NYC’s Office Market In today’s dynamic New York City office market, companies are constantly evaluating their real estate options. One key decision is whether to pursue a direct lease with a landlord or explore sublease opportunities. The table below highlights the significant cost savings that […]
The NYC Real Estate Market is Improving. Is now the Time to Act?
The NYC Real Estate Market is Improving. Is now the Time to Act? Below are the 10 stats that speak to the improving state of the office market and NYC economy as of January 2025: 2024 Year-End Leasing Activity was 24% higher than 2023.➡️ For more insights into recent leasing activity, check out Manhattan Office Market Roars […]