OfficeNYC.com is a web resource for local and international businesses that are looking to lease or buy commercial office properties in New York City, and require top-tier professional representation.
Yes, we are. OfficeNYC.com is a website owned by OfficeNYC.com, Inc. – a commercial real estate brokerage that specializes in NYC office space leasing and sales.
In leasing “NO FEE” means that tenants don’t pay any commissions to their brokers.
We have almost all NYC commercial office space listings for lease and sale. In Manhattan alone we have over 15,000 offices and retail spaces for lease, and over 1,000 commercial properties for sale.
Entire Manhattan and several prime sub-markets in boroughs.
We represent both tenants and landlords, and always negotiate with our clients' interests in mind. However, tenant representation is our competitive edge.
We negotiate deals aggressively, knowledgeably, and deliver great results. We never leave money on the table and always create real value for our customers.
Yes we are. Please, refer to the “Testimonials” section.
The Base Rent is the amount of money that a tenant pays as rent in the first year of a lease. It doesn’t include utilities, escalations, concessions, surcharges, etc. The Base Rent is normally presented as the price per rentable square foot per year. For example, if the Base Rent is $50/RSF/year, it means that the monthly Base Rent on a 2,000-square-footer is $8,333 (calculated as follows: (2,000RSF x $50/RSF/year) /12 months = $8,333).
The Loss Factor is the difference between the actual (usable) square footage of a space and the rentable square footage of the space. Basically, landlords add proportionate share of common areas (lobby, hallways, bathrooms, elevators, staircases, and so on) to the actual square footage of a space. The loss factor ranges from 20% to 50% and you should keep it in mind when you are making your leasing decisions. Our brokers will help you compare apples to apples, not apples to oranges.
The price depends on many variables such as location, quality of a building, landlord, space size, lease term, buildout, view, vacancy rate, your broker’s negotiating skills, tenant's financial strength, et cetera. For example, a good quality 2,000-square-footer may cost you $8,000 in Downtown, $10,000 by Grand Central, and $12,000 on the 57th Street and Park Avenue. Our brokers’ deep knowledge of the inventory will help you see all options and make right choices.
In leasing “Escalation” means increase of rent. There are several different types of escalations and in 90% of instances you will see two or three of them in your lease.
· Fixed annual escalation toward operation expenses. Usually it is 2.5%-3% per year.
· CPI (Consumer Price Index) escalation. It is used sometimes instead of the Fixed escalation
· Real Estate Tax escalation. A Real Estate Tax is normally included in a Base Rent; however, it is common for a landlord to pass on the real estate tax increases (over a Base Year) to a tenant. The tenant’s proportionate share of the building and Base Year must be specified in the lease and can be easily verified via public records.
· Bump. In long-term leases it is common to see a pre-negotiated jump in rent after a certain year on top of the Fixed annual escalation and Real Estate Tax increases. For example, your 10-year lease can stipulate that your Base Rent will jump up by $5 per square foot after year 5.
· Porter’s Wage escalation. This escalation is correlated with the cost of servicing the building. It is a rare escalation, but some landlords still use it.
It depends on your situation. For most NYC businesses it makes more sense to lease their spaces, because leasing is fast, flexible, not as expensive as purchasing, allows easy growth, and often is the only available option. For established and stabilized businesses (such as medical offices, for example) it may be a good choice to buy their offices for many reasons: investing and creating of equity, owner’s control, appreciation in the long-run, protection against tricky lease clauses, tax benefits, etc.
Please, do not hesitate to call us with any questions at 212.235.2000 or e-mail at Office@OfficeNYC.com. Our consultations are free of charge! Let's talk!
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