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 residential, […]
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 […]
Decoding NYC Office Rent: Why the Numbers Don’t Tell the Whole Story
The NYC Real Estate Market is Improving. Is now the Time to Act? 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 […]
How Long Does It Take to Find a New Office Space in New York City?
The NYC Real Estate Market is Improving. Is now the Time to Act? 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 going conducting […]
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 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 […]
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 is […]
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 […]
The Good Guy Guarantee – NYC – What You Need to Know
What you need to know about the Good Guy Guarantee NYC. The Good Guy Guarantee 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 […]