The Commercial Real Estate Blog

Full Service Property Management in NYC

Many would be real estate investors struggle with the idea of property management on a grand scale. A commercial real estate venture can quickly turn into a full time job if you are not prepared to take on the responsibility of maintaining the property well and sourcing quality tenants.

landlord-tenant-relationships-nycFull Service Property Management

That’s why full service property management companies exist, to offer you an all-in-one solution for keeping your properties in great condition anywhere in NYC.

Tenants

One of the hardest parts of managing a property is keeping it leased with responsible tenants. There are plenty of nightmarish stories of bad tenants refusing to pay rent on time and causing thousands of dollars worth of damage to the property. Fortunately, property management companies typically have a detailed procedure for screening and approving tenants. They also tend to build up a pool of qualified applicants who are waiting for the right property to come along, which means you may not have to wait very long at all to fill the vacancy with their help.

Care and Repairs

In addition to sourcing tenants for your commercial real estate, an experienced property management service will also be ready to take on the challenges of keeping your property in top condition. Usually this means that they conduct regular inspections to ensure no damage is being done to the property. They are keeping the landscaping in check. When damage has occurred or something starts to leak, your property management professionals should be prepared to call a qualified repairman to the site. Most property managers already have a list of local service providers they have partnered with for quick service and fair pricing. This is a useful resource for you, as searching for a repairman and taking time to get quotes for repairs can be a costly endeavor.

Financial Management

Lastly, delegating duties to a full service property management firm also typically includes letting them handle all of the finances. They will collect rent and disburse money to you each month. Many of these companies also offer to handle all of your end of the year tax paperwork for the property so that you can quickly and easily file taxes. They will be responsible for tracking down late rent and initiating evictions in the event of a bad tenant.

The goal of any full service property management team is to reduce the amount of stress you endure as the property manager. They have the tools and resources to keep your property filled, while also making sure that it stays in good shape throughout the length of the lease. They can take over most of the day to day tasks related to the property and streamline them into a single service for you.

Preeminent Property Management Service in NYC

Darell Handler and the Team at Handler Real Estate Organization offer full service property management throughout New York City. If you are interested in learning more about how they can help you fill vacancies and maintain your properties, click below or call 212.398.1888 today to schedule a consultation.

Finding Commercial Real Estate in NYC Doesn’t Have To Be Hard

Finding commercial real estate can be a headache if you aren’t sure where to begin. There many different kinds of properties in the commercial category. Most often come with a wide range of zoning designations determining how the property can be used. The neighborhood and the other tenants or owners in the area also have an impact on your investment.

office-space-leasing-nycFinding Commercial Real Estate

One of the best ways to begin your search for commercial real estate properties is to enlist the help of a real estate broker who specializes in commercial properties. They will have the resources and tools necessary to conduct a thorough search of available spaces in your area. They will also be able to give you some great pointers on things to avoid, what you can expect from sellers or landlords, and what you should take into account for budgeting purposes.

Scouting

If you are like most business owners, you already have a vision in mind of what your offices will look like, where you want them to be, or even a specific building that you are aiming for. You can do some early reconnaissance on your own by driving around in the areas you love and collecting information. Available spaces are typically designated with a sign or banner that includes a phone number to call for leasing or purchasing information. By gathering information about your preferred locations up front, you can save time and even pass the information on to your broker to allow them time to do some background digging before you schedule viewings.

Online Resources

Professionals who work with commercial real estate day in and day out are constantly aware of their surroundings. Most of the time they know which buildings have openings, what the price is, and when there will be a major opening coming up. They work closely with other commercial clients to negotiate moves and investments, so they may know well in advance when a property is going to be available. In addition, they have access to a full suite of online resources and professional networks that give them an opportunity to search for the perfect match. They do this while weeding out the properties that won’t work. They can quickly put together a list of options online and you can compare and contrast features online without leaving the office.

Finding commercial real estate has always been a daunting adventure characterized by leaping into million dollar property negotiations and a tumultuous market. Fortunately the reality of commercial real estate is far less intimidating with the help of a qualified broker who can navigate the waters easily and point you in the right direction.

Commercial Real Estate Leaders

Darell Handler and the Team at Handler Real Estate Organization are happy to assist you with all of your commercial property needs. With one quick consultation they can help you outline everything that a perfect property has in store for you. Click below and enter your information online – or – call 212.298.1888 today to schedule your consultation.

When is Real Estate Consulting Necessary?

Real estate consulting can help improve your return on investment by significantly reducing the amount of legwork you need to do on any given project. A qualified consultant typically has years of experience as a broker, but also as an investor, giving them a strong background in negotiations and market conditions.

commercial-real-estate-nycReal Estate Consulting

Real estate consulting is a slightly different field than actually brokering deals. Instead, the consultant is responsible for conducting the majority of the research about the properties at hand.

These duties include:

  • Contacting local code enforcement agencies
  • Gather reconnaissance about the conditions of a development
  • Assessing market values
  • Sourcing builders and materials in the area
  • Much, much more

Consultants are able to effectively negotiate and survey on behalf of the investor and provide a series of detailed reports. This includes the ability to compare the viability of multiple project opportunities.

Helping Developers Save Money

Some real estate developers believe that they can save money by skipping consulting altogether. Either they will do the research on their own, or they will try to negotiate their own terms. In the end, this often becomes inefficient as they do not have the resources and background knowledge to quickly get answers and draw conclusions about the market. The time it takes for a developer to gather this information would be better spent working on other projects, especially considering the relatively low fees charged by real estate consultants for their services.

Boosting Return on Investment

The real value of real estate consulting is especially evident for investors who want to put their money to work, but don’t have a deep interest in learning the ins and outs of the real estate industry. A qualified consultant has the ability to take investor’s money and place it in the best possible projects for high returns. Consultants will conduct thorough research into the actual building plans for each project and determine which ones will see the highest returns for the investor. This allows the investor to carry on with their full time business. The consultant only charges a small fee for putting together a great investment package, much like a financial coach would provide.

Ultimately, the services of a skilled real estate consultant are always needed when you are planning on investing heavily into a development project or you plan on launching your own development. In both cases, the consultant will provide invaluable information about potentially having an adverse impact on the success of the project.

Renowned Real Estate Consulting

Darell Handler and the team at Handler Real Estate Organization provide a wide range of real estate consulting services to investors and developers in New York and nationwide. If you are looking for a consultant to bring your project to life, click below and enter your information online – or – call 212.398.1888 today to schedule a consultation.

Find Firms For Property Development

Property development is a high stakes way of both investing in real estate, but also taking part in the creation of your city and your environment. Property developers work to bring together all of the necessary pieces to build a new high rise or a string of shopping centers. This is the work of a team of architects, designers and investors. Their job is to orchestrate all of the moving pieces to bring your development to productive life.

real_estate-_nyc_commercial_space-_blueprintsProperty Development Firm

The one thing differentiating property developers from builders and architects in the real estate world is that they have a unique opportunity to choose how a build will progress from start to finish. While most architects are hired onto a job site that already exists and spend their time designing buildings for the space they are given, a property development firm has the ability to look at many different pieces of land, compare their characteristics, and consult with an architect ahead of time about their vision before making a purchase. In the end, they are able to control more of the process and create a vision of their future building based on the most favorable building location. All of this contributes to a more thoughtful and well-rounded design.

Thoughtful Architecture and Design

Once the land has been chosen and the vision sketched out, the property developer seeks to draw investors and starts hiring consultants and contractors to handle the actual work. Property developers need to have experience with construction to understand all of the associated costs, permits, inspections, and other fine details needed to make a project come to fruition. Ideally your property development firm should have a few people who are highly knowledgeable about architecture and building working alongside their financial team and brokers. This strategy will ensure that each project is a success.

Make sure you ask your property developer questions, such as:

  • How many successful properties have you developed?
  • Have you ever suffered any major glitches in a development project?
  • What is your timeline for a new development?

Long Term Planning

Naturally, after you have developed a property, the next step is to find tenants to move in. If you are working with a property developer who also handles brokering and leasing, they should begin advertising your property well before the building is complete. This will drum up interest in the development and make it possible for new tenants to move in on day one. You will likely be handing the building over to a property management firm.

Property developers are widely influential in the way a city grows. Successful property developers carefully piece together the puzzle of funding, building professionals, and legal requirements to create amazing architecture. Their ability to do so comes from years of experience in the real estate industry. Experience property developers envision what makes great buildings and high traffic locations work.

Property Development Experts

Darell Handler and the Team at Hander Real Estate Organization are happy to discuss property development opportunities with you. Just click below and enter your information online – or – call today at 212.398.1888 for more information.

 

Find Luxurious, Available Office Space in New York

New York is home to many impressive luxury office spaces. Luxury office spaces are characterized by penthouse suites, premium construction materials, and a range of high-end amenities. New York’s luxury office spaces typically boast amazing views of the skyline and sometimes expansive terraces for a breath of fresh air. The hunt for available office space in the luxury sector can reveal a part of New York you never knew existed.

midtown-_central_park-_manhattanDefining Luxurious Office Space in New York

Before you begin your search for a available office space in New York you first need to define what luxury features you are looking for. Location, design, and even external features like the landscaping or lobby areas are all considerations. Some companies look for luxury amenities benefiting their employees, while other companies focus on luxury features that their clients can appreciate. Speak with your broker to learn about the types of luxury options available in your area and the price tag you can expect for those additional amenities.

Available Office Space

Once you have determined the features most important to your organization you can begin looking at available listings. Many developers hire designers and architects from around the world to create one of a kind office spaces. These artists bring together exotic hardwoods, colorful stone and tile, and plenty of accented fixtures to make the space unique. While there is a significant amount of demand for luxury office space in Manhattan, it is not a particularly fast moving commodity due to the relatively small number of companies actually able to afford those spaces. Take your time and compare your options before you make a decision. It is also important to remember that many builders only dedicate their top few floors to luxury design, which means you may come up against limited space in any one location.

Plentiful Office Space

There is plenty of available office space to go around in New York. Searching for luxury office space is an animal of a different color, but can open your eyes to a world of conveniences and features that are not generally open to the public. Choosing to lease a luxury office space will help you draw new customers and will impact the overall impression that your company makes on customers and investors long term.

Luxurious Office Space in New York

Handler Real Estate Organization brokers and property managers are currently working with local property developers and owners to find the perfect tenant for their currently open office spaces. Schedule a consultation today to see the full range of office spaces you can choose from and get a better idea of what features are available.

To learn more about how Darell Handler and the team at Team at Handler Real Estate Organization can help you locate available, luxurious office space in New York, click below or call today at 212.398.1888.

Where To Look For Commercial Real Estate in Manhattan

Commercial real estate is available across Manhattan, but finding quality spaces meeting your business needs can be difficult. Oftentimes, commercial real estate is not readily marked with the same signage and banners used in the residential real estate market. For this reason, using a qualified commercial broker can help point you in the right direction.

rent-office-space-nycTypes of Commercial Real Estate

Commercial real estate is broken down into many different classifications. Whether you are looking for office space, warehouse space, a retail location, or industrial buildings, your commercial broker can help identify sections of Manhattan that are most likely to have what you are looking for. In addition to the desired type of property you are searching for, you can also narrow down results by the neighborhoods they are in.

Properties are typically rated on a scale of A-D, according to the relative value of the neighborhood and other surrounding buildings. Class A real estate is premium quality, while class C is probably older and in fair shape. Deciding what scale of property you are looking for will ensure that you are looking in the right places from the get go.

A Skilled Brokerage Team

Unless you are in need of an office space immediately, the best way to find commercial real estate is to hire a brokerage firm to do the homework for you. Based on your budget and desired attributes, a skilled broker will be able to search and identify prospective properties effectively. Beginning with a narrowed list of the best properties will prevent you from wasting your time on spaces that don’t fit your needs. While this can take some time, it will guarantee that you end up with the right space instead of the space that just happens to be open right now.

Commercial real estate is a big investment for most companies. Finding the right space is important for long term success. Fortunately, it is possible to clearly define what you are looking for using type classifications and specific neighborhood searches. By hiring a knowledgeable broker you should be able to further reduce the time you spend searching. An experienced commercial real estate broker will find a great property in Manhattan best suited to your business and property needs.

Commercial Real Estate in Manhattan

Darell Handler and the Team at Handler Real Estate Organization have combined decades of experience managing commercial real estate in Manhattan. To learn more about available properties meeting your commercial needs, click below and enter your information online – or – call 212.398.1888 today.

 

Best Commercial Real Estate Agency

Anyone who is looking for the best commercial real estate agency in their area is sure to find a wide range of listings. However, choosing the best of the bunch can be difficult unless you know what metrics are being used to compare the different agencies side by side. Your organization needs a leader in the area having the prime commercial real estate listings.

Commercial Real Estate Agency

nyc-commercial-real-estateSuccessful commercial real estate agencies are made up of more than just brokers who handle deals. Since commercial real estate deals are most often in the form of leases or long term investments, their team needs to be diversified enough to handle a wide range of scenarios greater than just buying and selling individual properties. They typically keep consultants and property managers on staff to help round out their services for the unique needs of their industry.

Total Volume

One of the most common indicators used to determine the success of an individual agency is the total volume of deals they handle in any given year. The best agencies in the nation handle billions of dollars in transactions each year, but they also typically have a nationwide staff and contracts with some of the largest retailers in the world. The tradeoff is that the agency itself may be bound to rules set forth by their parent company and could be less invested in the local market. Another number that is also frequently used is the year to year increase in transaction volumes as a percentage. Both of these numbers give a solid idea of which agencies are managing major properties in any area.

A Personal Touch

While not every commercial real estate agency is able to take on billions in deals, a smaller local company might be the right fit. These companies are more likely to have been in the area for many years and grown with the local market. In addition, they are better able to serve smaller clients with a higher level of customer service since they are not tied to any major corporation all the time.

There is no one-size-fits-all formula for finding the best commercial real estate agency. However, the goals of each individual client will determine whether a smaller or larger agency will best serve their needs. For most people working on the small scale, a local agency will be able to provide a more thorough service and spend more time finding the right properties than some of the larger high traffic agencies around.

Commercial Real Estate Team

Darell Handler and the Team at Handler Real Estate Organization specialize in providing a quality one-on-one real estate experience. Their 25 year history in Manhattan as a family run business has led them to great success as one of the most preferred commercial real estate agencies in New York. Schedule a consultation with the Handler Team today by clicking below and entering your information online – or – call 212.398.1888.

Real Estate Firms For Office Space

Office space is difficult to find. It takes a perfect balance of location, square footage, layout and price to make all the pieces fall into place. Any business looking for prime office space needs the assistance of a skilled real estate firm to point them in the right direction and help get the deal done. Real estate brokers know the laws and the lay of the land, so they can guide you through the complex process of leasing office space.

Office Real Estate Consultations

office-space-nycSince office real estate is such a specific niche, it is not uncommon to sit down with multiple commercial real estate firms before you begin your search to discuss your needs and wants. They will make a list of your priorities and give you some feedback about what you can expect to find based on current market conditions and trends. Plan to spend some time interviewing with multiple brokers to find the one that fits best with your goals.

Identifying Office Real Estate

Once you have created a detailed outline of the attributes you want in an office space, the real estate firm will work on your behalf and within your budget to identify properties that are a great match. If the initial consultation went well, the properties on this list should meet most of your requirements, if not all. Naturally, it can be hard to find the perfect fit on the first try, but you should get a feel for the office spaces available and make any adjustments to your wish list at this point to narrow down your search.

Making a Deal

Once you have selected a property or two meeting your needs, it is time to put together an offer. A skilled broker will work to negotiate fair lease terms. In the world of commercial real estate, lease terms include more than just the rental rate. An experienced broker will also be looking into the maintenance and upkeep conditions, utility and infrastructure provisions, and any other fees associated with the lease.

While finding the right office real estate can be a difficult task on your own, a great real estate firm can ease the burden and help you get over the hurdles. Their knowledge of the properties in your area will serve to focus your search faster and streamline the shopping process. From there, they can work to minimize your costs and set you up for a mutually beneficial relationship with the property owner long term.

Office Real Estate Professionals

Darell Handler and the Team at Handler Real Estate Organization have earned a reputation for being the best office space brokers in NYC. They are happy to set up a consultation and learn more about your office space needs. Click below, or call 212.398.1888 to find out how fast they can help you get into your own office space today.

Top Rated Property Management Firms

Finding the top property management firm is often the difference between a successful investment and a costly mistake. Top property management firms can make your life easier by handling all of the day-to-day operations of your properties. These professionals will ensure of your properties are kept up to the highest level of care. As one person, it may be impossible for you to maintain your properties at a high level of care due to the amount of time, distance ,and number of properties you have.

Property Management Firm

office-midtownAny successful investor in the commercial real estate world will tell you that the most important thing to do is to build a great team to work on your behalf. Property management firms are a large part of that team as they are the ones interacting directly with the tenants and making important decisions about how to handle repairs when necessary. Many property management firms already have their own team of maintenance professionals. They have plumbers, electricians, and landscapers on hand so you don’t have to take the time to recreate a top notch maintenance referral list.

Documentation

One of the hardest parts of managing multiple properties is keeping a solid paper trail of everything that takes place at each one, day in and day out. Property management companies are able to effectively handle the books, keep track of applications and lease agreements, and keep records of repairs, expenses, tenant complaints, and other issues. All of this information is necessary at the end of the year during tax time, but also in the case of any tenant disputes.

Property Management Firms and Separation

In some cases, property management firms provide a much needed degree of separation between the tenants and the property owners. Giving the tenants your direct phone number often leads to numerous unwanted calls at all times of the day and night. When tenants have a problem, they don’t think of the owner as a person with set business hours, so they will call regardless of time or day of the week. On the other hand, property management firms usually have regular hours and an emergency line if something needs to be addressed immediately. This separation is an important barrier for successful investors who don’t want to be overwhelmed with requests.

Hiring the right property management firm ultimately provides a much smoother lease experience for both the owner and the tenants. No matter how big the office space is, having the right team available to keep the property clean and in working order is important. Hiring one of the top property management firm will save you from having to build and sustain your own team.

Top Rated Property Management Firm

Darell Handler and the Team at Handler Real Estate Organization are experts in the field of commercial property management. They are happy to assist you with leasing and maintaining your properties. To schedule a consultation with the Handler team today, click below – or – call 212.398.1888.

NYC’s Best Commercial Real Estate Firms and Brokers

Commercial real estate continues to be a safe place for investors to place their money and earn relatively high returns. The right real estate firm and broker will be instrumental in evaluating real estate to determine whether or not a deal can be made. That’s why it’s important to choose the very best in NYC to help guide you through the process based on their knowledge and experience in the area.

Commercial Real Estate

landlord-tenant-relationships-nycCommercial real estate is often seen as the high stakes table in the investing world. Commercial real estate investing takes far more capital and leverage to obtain than does residential. Commercial lease terms can be incredibly complex. Even experienced buyers require the assistance of a highly skilled team to pull off deals working in their favor. Whether it is office space, retail store fronts, or warehouses, each type of commercial real estate has its own risks and rewards.

Evaluating Returns

For anyone interested in purchasing commercial real estate, determining the return on investment can be difficult at first. Before purchasing any given property, there is often much speculation about what the returns could be. It isn’t until the property is actually purchased and leased to a tenant that those speculations turn into hard numbers. The cash-on-cash return value is what many buyers look at to determine how long it will take them to recoup their initial cash investment.

Here’s a common example:

  • The investor puts up $250,000 for a million dollar property to cover the down payment, closing costs, and any up front repairs or expenses needed to make it tenant ready.
  • The property generates $28,000 per year of positive cash flow after expenses and mortgage are paid.
  • The total cash-on-cash return is 11.2 percent.
  • This is a much higher return rate than could be expected in nearly any other investment vehicle over the course of a single year.
  • It will take just less than 9 years to fully recoup the initial cash investment.

Deals like this happen every single day in Manhattan’s commercial real estate market. The best real estate firms and brokers are able to identify prime properties and line up the right investors to make the deal happen. They know their clients portfolios well enough to know a good fit when it pops up. The top performing brokers are those that are extremely proactive about matching properties to people, as opposed to waiting for clients to come to them in search of something. This gives them the competitive edge by opening up the opportunity for more deals to take place.

Best Commercial Real Estate Firm and Brokers in NYC

Darell Handler and the Team at Handler Real Estate Organization have years of experience buying, selling, and leasing commercial properties in NYC. The Handler Team is happy to help you build your portfolio with the very best properties NYC has to offer. To schedule a consultation with one of the Hander Term today, click below – or – call 212.398.1888.