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 […]
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 […]