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 […]
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 […]