Top Tips for NYC Startups Looking to Rent Office Space
For New York City startups, finding the perfect office space can be a crucial component to work productivity.
Online, June 26, 2014 (Newswire.com) - For New York City startups, finding the perfect office space can be a crucial component to work productivity. You might want to find a space that is big enough to give your employees ample room for both work and play. With so many other tech startups vying for space you might even be considering sharing an office with another company. Whether you're looking for a bright, open space or more private workstations for your employees, check out some of these office space tips for NYC startups shared by Robert Bielsky, Founder and Chairman of Manhattan Commercial Realty.
1. Figure out what works for your company.
One of the biggest factors in determining the kind of space you'll need for your startup is how big your company is. Depending on how many employees you have you will need more square footage for extra desks, private offices, conference rooms, a break room, etc. Also think about the layout of the space that you're looking for. Do you want an open loft-style space where your employees can work and play in the same space? Or are you looking for something more traditional with enclosed cubicles and individual offices? Once you figure out what you're looking for and what you need it will help you narrow down your search for space.
2. Prepare to compare.
When comparing different spaces that you're interested in, prepare a comparative analysis detailing the size of each space, pros and cons, the rent cost, and the deal terms. This will help you be able to clearly look at each space and see what you're dealing with. An experienced NYC tenant broker can be very helpful in helping you decide on the best space to suit your needs.
3. Take a tour.
A commercial real estate agent will help you find the different spaces that can work for you and meet all of your criteria. However, a tenant real estate broker will work for you with your best interest at hand; they will find the best spaces to fit your needs and negotiate the best commercial rental lease. Narrow down the list to a few spaces that you would like to go see and then take a tour of your options. While you're there, pay attention to the neighborhoods they are located in, what transportation is nearby, what are the food options like, etc.
4. Don't look for larger space than necessary.
When calculating how much space you will need to fit all of your employees, save yourself some money and allocate space that is enough for your core team of workers. Remember that you will most likely be outsourcing resources and hiring freelancers that you can work with over Skype. On the other hand, make sure to not under-estimate the amount of space you need or else you will create a cramped office environment.
5. Negotiate your lease.
As a startup company you don't know how long you will be around for so it's best to negotiate a short lease at the beginning. In the future if your company decides to expand you should negotiate an option to expand your space. Keep in mind that lease rates will most likely rise in the coming years so if you like the space then lock in a longer lease. Also try to negotiate a cap on future rent increases. Some things to be on the lookout for when negotiating your lease are relocation clauses, termination agreements, insurance, and compensation for failure to deliver the space on time. Again it's best to work with a NYC tenant commercial real estate broker to assist you with this.
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 pr@mcrny.com 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.
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