Real Estate New York commercial office space realtors require expertise in the following areas:
Deal Structuring and Negotiating Contributions with NYC Landlords
New York City Commercial Real Estate transactions are structured to include landlord contributions for office space such as work letters, having the office space "built to suit", or reimbursing the tenant for construction improvements. Real Estate New York office space rents in Manhattan can be negotiated by our real estate brokers to provide qualified tenants with financial incentives in the beginning of the term, when it is most critical to the office space user. Hart of New York Real Estate Brokers provide Deal Structuring to best suite our clients.
Space Availability and Building Services for
office space in New York for Deal Structuring
We have office space in Real Estate New York in a variety of sizes, ranging from 1,000 rentable square feet to 100,000 rentable square feet, anywhere in Manhattan. Much of the office space is located in these fine locations: Rockefeller Center, Tribeca, Financial District, Grand Centra l Station, Penn Station, Times Square and Soho. There is also office space available above fifty-ninth Street. Leases in Noho have interesting loft space. Little Italy has store space, and the properties on Park Avenue South have loft and office space.
Some of the office space views available: Central Park, Rockefeller Center skating rink, Saint Patrick's Cathedral, United Nations, Hudson River, and the Empire State Building. Many office spaces units have views of bridges. Some office space units have views of the Statue of Liberty. In New York Real Estate the office space tenants have choices of natural views such as rivers, as well as other commercial real estate buildings.
Building property services and amenities in the different office space buildings vary, but may include: tenant-controlled heating and air-conditioning, 24/7 security, after-hour card access systems and pre-wiring for advanced telecommunications. Many office space tenants in Real Estate New York today require state-of-the-art technology.
Rentable Square Footage Versus Usable
Our Real Estate New York Realtor Brokers insure that you get quality office space for your money. There are three types of office space measurements that Manhattan tenants must be aware of: Rentable, Usable, and Carpetable. In order to facilitate cost comparison among office space buildings, many propertyy owners use a standard definition of usable area. However, because of the dissimilarities of office space buildings, calculations of rentable areas may vary, with some buildings having much higher "loss factors" than others. Our New York realestate brokers will you understand and analyze these issues, and will work with landlords to negotiate a deal.
New York City Tax And Operating Increases
For Office Space and Medical Office Space Buildings
Commercial office space leases in New York City Real Estate include rent adjustments to offset landlords annual increases in operating and tax expenses. These adjustments are called "escalations". Office space tenants in Real Estate New York pay a proportionate share of the increases, based on their rentable space in relation to the building. In some cases, the operating expenses are defined as "actual" and are tied to the actual operating expenses of the office space building. Another method that is used to determine operating expenses is referred to as the "Porters Wage Formula", which is based on the Building Service Employees' Wages And Hours contract for commercial buildings. Our commercial real estate brokers will negotiate base years and other aspects of the escalations for you for your office space .
Hiring Architects, Designers, and Engineers
for Commercial Real Estate, Store Space, Medical Office Space
and Loft Space
Regarding design and construction of an office space, tenants should be aware that Manhattan has very specific codes that must be complied with concerning People With Disabilities access requirements, sprinklers, engineering and fire safety laws. New York licensed architects and engineers must be consulted with if tenant will construct its own premises. Hart of New York Real Estate Company has the contacts, knows the business, and can take you through the process from inception through move-in of your New York real estate office space. Real Estate New York is an unusual place to do business, but can be very rewarding.
Asking Prices Versus Deal Terms for Real
Estate New York
Leasing office space in Manhattan requires expertise in market analysis. Commercial real estate brokers know the spread between asking prices and the negotiated lease terms will depend on the landlord, market conditions, and the specific commercial office space being considered. The landlord contributions, value of free rent, construction time, and the work letter that is negotiated into the deal will also affect the actual price of the office space in your commercial real estate building.