Decoding NYC Office Rent: Why the Numbers Don’t Tell the Whole Story
Decoding NYC Office Rent: Why the Numbers Don’t Tell the Whole Story Many people assume the New York City office rental market has mirrored the sharp downturns seen during the dot-com bubble and the financial crisis. However, a closer look reveals a more nuanced picture. While overall asking rents haven’t plummeted as drastically, there’s a […]
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 […]
The NYC Real Estate Market is Improving. Is now the Time to Act? – Duplicate – [#860]
The NYC Real Estate Market is Improving. Is now the Time to Act? Below are the 10 stats which speak to the improving state of the office market and NYC economy as of January 2025. 1. 2024 Year-End Leasing Activity was 24% higher than 2023 2. The Availability Rate for Manhattan stands at […]
Should a Company Hire an Exclusive Broker?
Should a Company Hire an Exclusive Broker? The answer is 100% yes! Let me caveat that to say, that you should only engage an experienced broker with a proven track record of working on similar transactions as to yours. A real estate transaction is complex and as an occupier there is a lot to […]
The Difference Between Costar and LoopNet
The Difference Between Costar and LoopNet If you are looking to find office space on your own, it is important to understand how the tools work and their limitations. The primary listing service that the brokers use is called Costar. There is no cost to the landlords or their agents to list their available spaces. Costar […]
Two Strategies for Nonprofits to Eliminate Real Estate Taxes
Two Strategies for Nonprofits to Reduce Occupancy Costs Nonprofit organizations are in a unique position to execute on the strategies noted below to effectively reduce their leasing costs by an amount corresponding to the real estate tax cost that is implicit in their cost of leasing. 30-Year Leasehold Condominium In NYC, if a non-residential property […]
The 30-Year Leasehold Condo – NYC – What you need to know.
The 30-Year Leasehold Condo NYC. What you need to know Many nonprofits, including charitable organizations, educational organizations, and healthcare providers, are eligible for a real estate tax exemption when they hold legal title to a property. However, purchasing a commercial building or a commercial condo can be cost-prohibitive for many organizations. A way to get the full tax benefit of ownership without the […]
The Good Guy Guarantee – NYC – What You Need to Know
The Good Guy Guarantee (GGG) seems to be one of the most misunderstood components of a lease. The biggest misconception is that the GGG gives the tenant the ability to walk away from the lease without any ramifications. That is 100% false. The Good Guy Guarantee is not a get-out-of-jail-free card for the tenant. In […]
Finding the Perfect Office Space in New York City
Finding the Perfect Office Space in New York City Many brokerage websites claim that their firm will find you “The Perfect Office Space.” As a successful 30-year industry veteran, I am sorry to say that unless you have Jeff Bezos or Elon Musk type money, and cost is not a factor, the perfect space is […]
Annual Escalations in a Commercial Lease. What You Need to Know.
Annual Escalations in a Commercial Lease. What You Need to Know. The escalation clause is a provision in a lease that allows for annual increases in the rent. The rationale behind the clause is so a landlord can defray the increasing costs to operate, maintain, and service the building and continue to provide the same […]