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What You Need To Know About Executive Office Space In NYC

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Executive Office Space NYC

There is a reason New York is referred to as the big apple; it is the business capital of the world and as such an overwhelming amount of companies desires to establish a base here. Getting the right office space in line with the needs of your business can be quite a challenge especially if you are operating on a budget. While there is all manner of business complexes coming up all over Manhattan, it does require time to find what suits your kind of business. For many businesses, office space is just a place to carry out business but there is much more to it; the choice of office space has a direct impact on staff productivity and in turn, overall profits. Basing your business in the city of Manhattan is a consideration not only for your staff but potential clients as well. There are three types of buildings that business owners will choose to operate a business from and the choice depends on the intended impression.

Class A: any building that was set up after the 1960s definitely falls under this category owing to superionew-york-668616_640-300x200 What You Need To Know About Executive Office Space In NYCr designs, prestigious addresses, and gleaming exterior finishing. Class A buildings are easily identifiable as the modern day skyscrapers that offer 24 hours lobby attendance. The security level in these modern buildings is remarkable, to say the least. Although the Chrysler and Empire State buildings were built in the 1930s, they too belong to this class for their iconic status.

Class B: buildings in this category are generally older than 1960 but are modernized to fit the image of modern day commercial premises. They also offer fewer services aimed at tenant convenience. The locations of such buildings are less strategic because they can be found on less desirable streets. The rent in this class is moderate and if you can find a class B building in a great location you can get a great office space with lower rents than a premium space.

Class C: the main difference between a class B and a class C building is the maintenance. Class C buildings are built before 1960 but can sometimes be run down. This aspect plus the fact that their location is not desirable causes their rent to be low compared to buildings in the other two categories.

Where to begin

With such a wide range of choice for office space, it can become quite complicated getting the right match for you. Where does the search begin? Who do you need to involve? To stay within your budget remains the greatest guide in finding office space but you will only be able to locate all the spaces within your requirements if you work with a commercial properties broker in NYC. In all cases, the broker earns their fees from the landlord so there is no financial obligation to you as the tenant.

Other than exploring all options for potential office space you would never have located on your own, a commercial real estate broker plays the following role in finding executive office space NYC;

office-581131_640-300x200 What You Need To Know About Executive Office Space In NYCSaving on time

With a business to run and employees to manage, a commercial real estate broker brings a wealth of experience and a list of properties they have gathered around town so that you will not have to do it. The broker only needs to understand the requirements for the business and they will match a suitable space to it.

This process takes time but it comes naturally to a broker because it is their profession and expertise. Just like a lot of time is saved finding the right property, time is also saved in the organization of inspections and processing of required paperwork. If you feel too rushed during the process, you can ask your broker to slow down so that you are able to understand every step of the process. Request for as much information as possible to keep you focused on what your business needs for executive office space in New York.

Saving on costs

How do you begin to negotiate for a property when you have never done it before? While it is a crucial part of doing business, only an experienced negotiator can be aware of what is required of them. Commercial real estate brokerage firms have attorneys to advise on the clauses contained in lease agreements so that every cost is agreed upon and understood before the actual signing.

Whether you choose to find executive office space NYC on your own or engage the services of a broker, you must maintain constant communication between potential landlords and your legal team. Finding a new location for a business as a startup or an established business can be quite stressful and it is, therefore, important that as many people as needed are involved in the process.

Sometimes the steps involved in finding the right location take longer than expected and this is normal especially in locating suitable space. It is often important to have a checklist of what you want for an office space; internet connection, amenities, amount of space, nature of companies working in the same building, consideration for disabled employees, etc. Having a comprehensive checklist is the best way to establish that the executive office space in a Manhattan or Brooklyn building is going to serve you for a long time.

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Spaces Commercial Real Estate helps businesses in NYC find and secure great space. Whether you’re one person running the show or have a cast of characters to do your bidding we’ll help you find the right space and at the right price! Click below for more information.

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Jack Cohen

Jack Cohen has over 15 years of industry experience developing and implementing real estate strategies for clients in Manhattan and throughout the United States. Prior to founding Spaces Commercial Real Estate, Jack was a Managing Director at Colliers International for 3 years and a Director at Cushman & Wakefield for 9 years. Jack’s forward thinking has engineered some of Manhattan’s most unique and difficult deals including the repositioning and leasing of 636 11th Avenue, a 564,000 RSF warehouse to office conversion, which was awarded real estates highest honor- REBNY’s Henry Hart Rice Most Ingenious Deal of the Year Award. Jack is a graduate of Rutgers University School of Business where he majored in Economics and Business Management. He is a member of the Real Estate Board of New York, the executive committee of American Israel Public Affairs Committee (AIPAC), and the Board of Education of Keter Torah, his childrens’ school. Jack lives on the Jersey Shore with his wife and three children.