Okay, so there is this thing that happens in commercial real estate in New York City that will blow your mind. When I learned about this, it took me a while to get it. It is called re-measuring. In its simplest form, you can sign a lease for 10,000 square feet, and in some time […]
I am shocked at how often I’m hearing this word. It is part of most conversations with tenants these days. I understand where it is coming from, but its frequency is what is shocking to me. The word? Flexibility. It’s being driven by an inability to forecast how people will work coming out the other […]
It’s been a long 12 months. Spring is in the air, and New York is waking up after a long nap. But, the landscape seems different. Yes, people are starting to come back into the city but everyday office occupancy is still hovering around 15%. Some businesses are operating within a hybrid model, having their staff in the office […]
Your lease renewal is Worth A LOT! A lease renewal is seen as the path of least resistance for many companies, as it removes the potential disruptions associated with a move, from a change of address to the associated costs, and everything in between. It is important to remember that it is the best option […]
Now more than ever, tenants are choosing to renew, rather than relocate, their offices. The mistake that many companies make is that they think renewal is not a negotiation. At its core, your lease is a financial commitment that your company is making. It is your right to negotiate the critical financial terms because they […]
It is heartbreaking when you get that call from a client or friend who has Manhattan office space and the call goes something like this: “I absolutely love my office. But I am the only one who is using it right now? My employees do not feel comfortable coming back at the moment, but I […]
When you consider Manhattan office space and eventually sign a new office lease in NYC, one of the financial terms to negotiate is the base years for real estate taxes as well as for operating expenses. We will address each of these separately to help explain why you should care. The short story is that they add up to a large number of dollars and cents that either you are paying, or the landlord is paying based upon your advisor’s knowledge of the topic.