5 Things to Consider When Choosing Office Space in New York City
When you're looking for office space in New York City, there are some important must-know factors to consider.
June 3, 2014 (Newswire.com) - When you're looking for office space in New York City, there are some important must-know factors to consider. You need to be aware of the time it takes to find the space, negotiate and sign the lease, and design and construct the office. Don't wait until your old lease is just about to end to start looking for space. Allow a few months to find the right office space and before you start your search, realize that looking for office space in New York City is unlike looking for office space anywhere else. However, the process can be made much smoother when you work with a seasoned New York City commercial real estate broker. Robert Bielsky, Founder and Chairman of Manhattan Commercial Realty, offers five things to consider when choosing office space in New York City.
1. An experienced commercial real estate broker is crucial.
The right commercial real estate broker will work hard to find you the best deals, minimize real estate costs and maximize profits. You can trust the real estate agents at Manhattan Commercial Realty because they know the industry well and can provide you with resources and information that is only available to them. "We will do extensive research for clients and find the best locations for any type of business. The Manhattan Commercial Realty agents are committed to providing the highest level of service to all of their customers. Most importantly, we work for the tenant and not the landlord," shares Bielsky.
2. Location is key.
New York City offers many different neighborhoods that work for different types of companies. You may be asking yourself, "Which area of NYC should I have an office in?" Currently, Soho, Chelsea, Flatiron, Tribeca, and Dumbo are all desirable areas for NYC office space. The reason for this is they offer easy commutes, plenty of food options, and exciting after work nightlife. Some companies prefer quiet environments with less crowds so they can get more work done during the day. Other companies enjoy the hustle and bustle of Midtown and a fast-paced work environment. When considering where to look for office space, think about what your employees would prefer and what type of environment will be most productive for them.
3. Look out for traps.
You may find yourself walking into a building and thinking, "This place looks great!", but don't get excited just yet. You need to tour the space you are interested in and take some time to carefully inspect it. It's easy to overlook something like the bathroom, but everyone in the office will be using the bathrooms so you should take time to check them out and make sure they're decent. At first glance a space may seem perfect, but stay a little longer and you might notice the office on the floor above you makes tons of noise that can be really distracting on a daily basis. Some other factors to consider are the building's elevators, air conditioning, and whether or not the building has 24/7 access.
4. Avoid hidden charges.
New York City buildings sometimes get you with hidden charges that appear on your lease and seemingly make no sense. Read through the lease carefully before you sign it and have an attorney take a look at it for you and your broker. Another thing to inquire about is whether the building has a separate electric meter for each space. If it doesn't, you may end up being charged way more than what you would be charged if your space had its own meter. Rent escalations are also common and they are often based on operating expenses but the amount that you pay should be agreed upon and not based on some outdated formula.
5. Is your company traditional or creative?
The type of company you run can definitely help you identify the office space you need and where to set up your office. A start-up company will probably look for a more creative workspace or maybe even a shared space with another start-up which allows for more interaction and collaboration with other creative thinkers. This type of company would feel at home settling in a neighborhood like Chelsea, the Meatpacking District, or Flatiron. On the other hand, more standard businesses prefer private offices and cubicles and a more traditional office setting which can be found in Midtown and the Plaza District. If location is going to be a very important part of your business then you will want to make more room in your budget for rent.
Note to the media: Robert Bielsky, Founder and Chairman of mCr, is extremely mediagenic and can offer the best tips and advice regarding New York Real Estate. To schedule an interview with Robert Bielsky, Founder and Chairman, please contact Tasha Mayberry, Director Marketing and PR, at firstname.lastname@example.org or call direct 207.317.6099.
About Chairman Robert Bielsky
Mr. Bielsky holds a national reputation as a leader in the commercial real estate industry. His market expertise, creative deal making skills, and keen knowledge of the art of negotiation have maintained his position at the forefront of the industry.
As the founder and Chairman of Manhattan Commercial Realty he leads one of the most powerful negotiating teams in NYC. With his leadership mCr has maintained a strict dedication to tenant representation, and successfully negotiated over $1 billion in real estate transactions since its inception in 1982.
Categories: Real Estate