The Commercial Real Estate Blog

Preeminent Commercial Lease Brokers in NYC

Commercial real estate brokers work in several different capacities. Brokers not just tasked with facilitating the purchase of commercial properties. These professionals also facilitate property leasing. It is not uncommon to look specifically for commercial lease brokers to handle long term and large scale rentals. Here’s a look at what you will be getting when you work with a broker to help facilitate the finalization of your office space lease agreement.

Commercial Lease Brokers

Commercial brokers who specialize in leasing instead of sales are a great resource for landlords and tenant businesses alike. Experienced brokers have a plethora of background information about how a lease agreement should be structured to guarantee both parties are protected. On behalf of landlords, this means screening tenants and setting fair expectations about the care of the property over the lease term. For tenant businesses, lease brokers assess whether or not the rental rate is on par with other commercial spaces in the area. Brokers also thoroughly explain all terms and conditions of the lease agreement to tenants.

Thinking Outside the Box

Similar to commercial real estate sales, leases typically require a lot of negotiation to reach fruition. Commercial leases can span millions of dollars for a term of five or more years. It is imperative that high-end commercial lease agreements take into account every possible challenge and address concerns ahead of time to protect both parties. On the plus side, the scale of these leases often means that your commercial lease brokers have more room to formulate unique solutions for each lease agreement. A reputable broker will be able to come up with creative ways for negotiating fair price per square foot, upgrades, maintenance, and more.

Making Connections

It is also common for commercial lease brokers to work for both landlords and tenants at different times. Since they form relationships with clients on both sides of the aisle, they are sometimes able to make a match from within their client base. For instance, a business that is looking for their very first office space might ask their broker for recommendations based on properties the broker already represents. In this case, the tenant’s time investment prior to  signing a deal can be drastically reduced.

Preeminent Commercial Lease Brokers in NYC

If you are looking to find new tenants for your commercial property, or you are seeking quality office space within NYC, you should contact a commercial lease broker right away. They can help give you all the information you need to list your property or search property listings near you.

To learn more about commercial lease opportunities in and around NYC, contact the Handler Real Estate Organization Team today. Our brokers are ready to help you land the perfect lease for your needs. Call 212.398-1888 – or click the icon below to schedule your consultation today.

How to Renegotiate Your Manhattan Office Space Lease

There are many reasons to renegotiate your Manhattan office space lease agreement. The most common reasons include:

  • Drastic market changes
  • Impending financial struggles
  • Need to revitalize a business after a long lease term

The manner in which you approach the negotiation table will have a large impact on whether or not you are successful.

Renegotiate Office Space Lease Agreements

There are two things you need to consider before you begin negotiating.

First, you must know what you are trying to negotiate for and why. Obviously you are trying to save money on rent. However, if you’ve been paying a higher rental rate all along, your landlord probably won’t consider giving you a break suddenly. If your company is on the brink of falling behind, or if you have a better offer at another location and you are considering a move, your landlord has plenty of reason to listen to your requests.

Secondly, you must become informed. Are similar office spaces in your area suddenly renting for a fraction of what you are paying due to high vacancy rates or sudden market shifts? Is your landlord listing another office space in the same building for less? Know what current market conditions are and how your lease compares to the properties that are now available. These are bargaining chips when you need to generate numbers based on current fair rates.

Concessions

Another part of renegotiating Manhattan office space is to ask for concessions. Many people think only about the cash value of their monthly payments and fail to realize that a long term lease can actually burden your company with an outdated space unintentionally. Whether your landlord is willing to budge on rental rates or not, you can always ask for concessions such as new carpet and paint. This is an improvement allowance to during the term of the lease. Another concession would be paying partial rent for the first few months if you renew for a longer period of time. All of these can be equally valuable to the state of your company and should be considered as an alternative to simply adjusting rental rates.

Renegotiate Office Space Lease

If you feel that you have adequate reason and grounds for renegotiating your office space lease, seek the assistance of a qualified commercial broker. They will be able to arrange and handle the difficult negotiations for you by exploring every opportunity for cost savings outside of rental rate adjustments. Come to the table with a clear goal in mind and be prepared to explain why a renegotiation is pertinent. Back your claims up with facts about current market conditions and why your existing lease is no longer suitable.

When you are ready to begin renegotiating your office space lease, contact the Handler Real Estate Organization Team. Our team can help you create an outline and gather data for a better lease today. Just call 212.398-.1888 or click the icon below to contact us now.

Discover Prime Office Space in Manhattan

Affordable Office Space ManhattanFinding prime office space in Manhattan is definitely competitive. If you are not asking the right questions, you can be led on a wild goose chase, missing out on a deal while you’re distracted by unnecessary leads. In order to discover the best properties in Manhattan, you must have the assistance of a professional who is focused and knows exactly what information is needed to make the right choice for your business.

Researching Prime Office Space in Manhattan

With so many office spaces in Manhattan ready to be filled, it is important that you ask the right questions to narrow down your search and take notes when you get answers. The only way to really compare multiple properties is to compare your notes after you have asked everybody the same questions.

Here are a few questions you should be asking before you commit:

  1. What is the atmosphere like? – There are many factors that can impact the atmosphere of a particular office space. A dedicated maintenance team can really help keep it clean and professional, while the wrong set of neighbors can bring the whole place down. Before you even consider completing the signature line, you need to know whether or not your business will be able to thrive in the environment surrounding the prospective office space.
  2. What is the timeline? – Some property owners begin advertising their office spaces for lease well in advance of the old tenants moving out. Others need time to clean up or make repairs. If you are genuinely interested in moving in, you will definitely want to know how quick you can make the transition without unnecessary and costly delays.
  3. What are the terms? – A great looking space is not the only factor that will determine whether or not you have found the best office space in Manhattan. The terms of your lease agreement will greatly impact the viability of the location. Some landlords have strict minimum lease terms for three or five years. Others require hefty deposits. Finding out the answer to this question is a major part of your broker’s discovery responsibilities.
  4. What is the Landlord Willing to do? – This may seem odd, but if the landlord has had a vacancy for a while, they may be extra generous if it means filling the spot. Remember, landlords are competing for tenants as much as tenants are competing for office spaces in Manhattan. Ask what the landlord can do to help you get moved in and see what they say.
  5. What Makes it Special? After you have looked at a handful of Manhattan office spaces you will probably have a good feel for what to expect. It may get monotonous. Take the time to ask the landlord what exactly makes their property different from all the others. Special amenities? A better management team? Some of these things can really impact your experience as a tenant.

Leading Team to Locate and Research Prime Office Space in Manhattan

The team at Handler Real Estate Organization is here to help walk you through the search for your next office space. We can help you create a list of questions for each space you look at to simplify your search. To learn more, call (212) 398-1888 or click below to schedule your consultation.

Explore the Cost of Hiring NYC’s Best Commercial Broker

office_space-_real_estate-_deskWhether it’s your first time working with a commercial broker or your hundredth, the one thing that must always be considered is the cost of hiring the best broker around. Committing to using a quality broker ensures that you will get the best value for your money. The best commercial broker will give you the benefits of their expertise and contacts throughout your working relationship.

Commercial Broker Considerations

Ultimately, the actual cost of hiring a qualified commercial broker in NYC will depend on the actual details of your lease or purchase agreement. You will need to discuss commission rates in advance and determine whether or not you will be responsible for a retainer before a contract is signed. Make sure you ask your broker what marketing and research services they provide that make their fees comparable to other brokers in your area.

Commissions

The vast majority of real estate brokers in the commercial industry works on a commission. The structure of those commissions is slightly different for commercial brokers than residential brokers. This is because commercial brokers handle both sales and leases. The percentage rate of the commission generally decreases as the length and price of the lease increases. Thus, small, short-term leases may have a commission of 5-8 percent, while large, long term leases of 5 years or more can have commissions around 3 percent. You will need to discuss the exact terms of your deal with your commercial broker to determine what their commission will be. Typically, the commission is paid by the landlord, not the tenant.

Advance Fees

Depending on which broker you choose to work with, there are a number of other fees that can be added to the commission. A retainer may be paid to keep the broker working for you in the time before you sign a lease, which will then be deducted from the commission to be paid once the lease is in action. Hourly wages may also be paid for brokers who are conducting research or marketing activities outside of their typical responsibilities. Travel fees, success fees and other costs may also be a part of your broker’s deal.

Exclusivity

Another important facet of your commercial broker costs will be whether or not your contract with them is exclusive. Ideally, you should ask for a non-exclusive contract which allows you to do some searching on your own, and opens up the possibility of working with brokers from different areas for the best results. Thus, the broker will get a fee only for the work they have done, rather than any deal that you manage to make on your own. However, it is usually best to work out an arrangement where you can search for properties on your own, but the broker will help you handle negotiations, because their expertise is really what’s valuable in the final stages, whether they were the ones to locate the property or not.

Foremost Commercial Broker Team in NYC

The team at Handler Real Estate Organization aims to be the best NYC has to offer. Our commercial brokers are here to help you find the property of your dreams or match you with tenants in a timely manner. To schedule a consultation with the Handler Team, call 212.398-1888 or click the icon below today.

Know When The Price Is Right For Manhattan Office Space

commercial-office-spaceManhattan office space come in a variety of forms, however, the lease terms required for each space vary slightly. You will need the help of a commercial real estate broker to help you examine the proposed lease terms. An experienced broker will help you to sort out the contract language and determine which office spaces have the best price and fairest terms. To make a fair comparison you will need to do some basic research and calculations.

Manhattan Office Space

Ultimately the perfect price for any piece of Manhattan office space will be set by your needs. It is extremely important that you find a qualified partner who can walk you through the process and clear up any confusion about what the prices actually look like at a base level.

Price Per Square Foot

When you first hit the streets looking for a new Manhattan office space, the one thing you should be asking is what is the price per square foot of a given space. However, you also need to be explicitly clear about what that number includes. Some landlords will give you a price per square foot for the space, but not include extra expenses like shared maintenance or landscaping costs, or other additional fees. Some landlords will give you a price per square foot for only the useable office space, while others include common areas like hallways or storage spaces. If you aren’t sure what you’re comparing, ask a broker to help clean up the numbers so that you can get a more accurate picture of what is and is not included in the price.

Negotiating Power

It is important to remember that the commercial real estate industry is known for high stakes negotiations and high profile deal making. All of the research you are doing to determine which prices are fair and competitive will also play a role in how well you negotiate at the table. More than likely your broker will be the one handling the negotiations on your behalf, but they will be using the information you have gathered during your search to ask for a more favorable deal. Being able to clearly state what the competitors have to offer can be a great way to get someone to bring their price down or work with you on extra fees or terms.

Your Budget

When it comes to setting your budget and determining whether or not a given property falls within it, you also need to think about what kind of terms you are hoping to get. The price of a Manhattan office space is only right if it also comes with the terms you need to make it work for you. You may have one budget for spaces that include a number of amenities or improved infrastructure and a different budget for spaces that will require additional work on your end to make functional.

Preeminent Manhattan Office Space Brokers

The team at Handler Real Estate Organization is here to help you find a Manhattan office space that meets your budget and needs. We will help dispel any confusion around property pricing and help you negotiate the deal you need. For more information call 212. 398.1888 or click below to schedule your consultation today.

What to Know When Looking for NYC Startup Space

54337895 - portrait of business people standing back-to-back against new yorkShopping for NYC startup office space can present challenges. Startups are faced with limited funding and are relying heavily on their brokers to help them identify office space that will contribute to their success. Most startups are looking for space that will provide them with an edge as they fight to break into the marketplace and present themselves as a viable company.

NYC Startup Space

NYC startup space is abundant for those companies who are willing to shop around and manage their budget closely. The most important thing to remember is that you can’t know what the future has in store for you, so you must be careful about signing a lease that will limit your potential or hold you back.

Flexibility

One of the most important factors for companies looking at NYC startup space is the degree of flexibility they will have in their lease terms. It should be common sense that startups are particularly unpredictable when it comes to their growth and expansion. Some startups struggle along for a long time before becoming sustainable. Others don’t make it while others suddenly explode into a frenzy of hiring and need more office space. As a result, most startups are looking for a place with a short term lease so that they can move if they need more room or share their space if they can’t afford it all by themselves. In the commercial real estate industry, many landlords are seeking long term leases with guaranteed payout. However, there are plenty of places that are willing to take a risk to keep their space filled.

Amenities

In most cases, companies who are just starting out are not looking for fancy upscale arrangements. More than likely, they will be happy to find somewhere in the budget category with four walls and access to reliable Internet. They can do without the marble entryways and the fountain out front. Their focus is resting squarely on the shoulders of functionality. This can mean that startups get creative about turning unconventional space into offices, including strip mall locations.

Price

Obviously, the price tag is the thing that most small companies see first. If you’re working with a tight budget, don’t be afraid to stick to your guns. Spending more money under pressure rarely turns out well for anybody. There are plenty of spaces available in any budget range if you are willing to be patient and do your research. Your broker should be able to offer you some tips about what to expect from the available properties and how to get a better deal on a suitable location.

Leaders in Providing NYC Startup Office Space

The team at Handler Real Estate Organization is dedicated to serving all customers regardless of size or budget. If your company is searching for the NYC startup space, our team will help you find the perfect fit to meet your organization’s goals. Just call us at 212.398.1888 or click the icon below to schedule your consultation today.

Best in Performance for 2016 Commercial Real Estate

commercial-real-estate-nycIf you are seeking a quality commercial real estate broker, you should start at the top by looking at those who have earned prestigious recognition within the real estate community. For instance, brokers who have been recognized for Best in Performance for 2016 show that they have completed a variety of successful deals. The Handler Organization has earned high marks from their clients and colleagues in the commercial real estate industry.

Commercial Real Estate Performance Factors

It is easy to look at online reviews and jump to conclusions about a team of commercial real estate brokers. However, the overall performance of a brokerage team is made up of many different aspects. In some cases, a brokerage team is rated best in performance based solely upon their revenues for the year. This is indicative that they signed a number of high dollar deals. In the commercial real estate sector it is also common to look at the combined square footage of the deals that were completed throughout the year.

More Than Numbers

If you are shopping for commercial real estate brokers for future investments it is important to look at both quantitative and qualitative data. The quantitative data can tell you a lot about how a business is run. Customer reviews are also useful for determining whether or not a broker is the right fit for you. You should be able to see overall customer satisfaction ratings for the broker that interests you. Also, check out the number of clients who would refer a friend or family member to the broker. Sometimes customers are generally satisfied with a broker, but they aren’t quite ecstatic enough to make a referral. You should find out why.

What it Means to be Best

The commercial real estate brokers who earn the designation of Best in Performance have mastered their craft. They are able to balance the numbers as well as their customer relationships to achieve the best of both worlds. They show growth over time not only because they take on bigger and bigger transactions, but because they also build a reputation for reliability and service. These positives draw in even more customers. As their reputation grows, you begin to see more and more of their work in the papers as large corporations begin turning to them for help and support finding commercial real estate space in the area.

2016s Best In Performance

For this year’s end, Handler Real Estate Organization is on their way to being the Best in Performance for 2016 in the commercial real estate market. Their team has proven time and again that they are up for the challenge of handling large scale deals. The Handler Team continues to meet their clients’ demands.

To learn more about how the Handler Real Estate Organization team can serve you, call 212.398-1888 or click the icon below to schedule your consultation today.

New York City’s Leading Commercial Real Estate Brokers

office-midtownNew York City is stocked with commercial real estate brokers vying for your business. What makes one broker stand out above the competition? Dedication to serving you with the absolute best available properties on the market. Further, working hand in hand with you to discover what you need out of your next real commercial estate purchase or lease in New York City.

Commercial real estate brokers are a very specialized group of professional who should always put your needs first and foremost. The leading brokers in the industry are known for being communicative and honest in their transactions, while also working tirelessly to make sure you are making informed decisions all along the way.

Commercial Real Estate Brokers

Leading New York City commercial real estate brokers will always begin working for you with a detailed consultation. When you arrive at this meeting, be prepared to answer some tough questions about your goals and priorities for your real estate. You will need to think deeper than just budget and size. The brokers will analyze the fine details of your business plan. Going one step further, a leader in the commercial brokerage industry will want a detailed and accurate picture of your business plans in order to seek out the best properties for you.

The Discovery Process

A leading broker will also include you throughout the research and discovery process. Once you have narrowed down your search to a short list of prospective properties, it is time to do some digging. Today’s commercial real estate brokers have access to important information detailing the history of the property. You can often learn about:

  • Past tenant’s performance in the space
  • Any upgrades or changes that were made to the property
  • Tenant turnover rates, and more

However, it takes a really experienced broker to point out current industry trends and define what they mean for your business.

The Negotiation

Once you have decided on the perfect property, it is the job of qualified commercial real estate brokers to negotiate the terms of the sale or lease. The more knowledge you have gathered up to this point, the better chances you have of negotiating for favorable terms. They spend all day putting together contracts for clients, so they will know when and how to apply pressure to get the terms you want. They will also know when you need to walk away if negotiations are not going in your favor. Being steadfast in your favor will save you a ton of money and strife in the long run.

New York City’s Leaders in Commercial Real Estate

The team at Handler Real Estate Organization is here to help you discover the great commercial real estate properties New York City has to offer. Schedule your  consultation with New York’s leading commercial real estate team by calling 212.398.1888 or clicking the icon below.

What to Look for When Browsing Manhattan Office Space

office-space-leasing-nycManhattan office space comes in all shapes and sizes. When you’re browsing Manhattan office space for yourself, you may be surprised to find that there are a vast array of options available for businesses of all kinds. A search for Manhattan office space can be an exciting adventure. There is plenty to choose from and a huge variety of styles available. You are certain to find something you like, or at least learn what others have done in the past. More than anything, you should keep an open mind and make sure you are thinking about the long term implications of how the space will be used in addition to the price and location.

Browsing Manhattan Office Space

Here are a few of the top questions you should be asking while you’re searching for your office space in Manhattan:

  1. Which Location Is Best? – Location is often the number one concern for business owners seeking office space. While browsing Manhattan office space you will find that some spaces look really convenient on a map, but they are actually a nightmare for traffic. On the other hand, some locations may seem off the beaten path, but they are actually easily accessible by public transport. Preferably, the best office space is located in an up and coming neighborhood with high potential for the future.
  2. Will Your New Office Space Be A Marketing Tool? – As a natural extension of location, you need to determine whether or not your office space will be it’s own form of marketing. Does it have a large visible window front that will host advertisements? Will the exterior of your building invite foot traffic into your office in the form of customers or potential employees? If so, what exterior features do you need to draw people in? Simple research planning on the marketability of any office space will be required if it is to be used an effective tool.
  3. Does the Space Flow Well? – It’s amazing how many of Manhattan’s top office spaces are actually broken up into inefficient layouts. Browsing Manhattan office space will give you a good idea of which designs work for your goals. You have the opportunity to choose from completely open layouts or closed off layouts. Your choice will likely depend on how much privacy and communication you need to take place between your team members.
  4. What is the True Useable Space? – When it comes to office space listings, it’s not surprising to find that some spaces offer slightly inflated estimates for square footage. What you need to know is how much of the space is truly useable. This means actual office space for working functions, not closets and shared hallways. Simple research for functionality of your future office space is required.

Leading Agency Providing Premier Manhattan Office Space

The team at Handler Real Estate Organization is available any time to help you research and locate the perfect office space in Manhattan. We have plenty of current listings and we can help you narrow down the search according to your needs. For more information call 212. 398.1888 – or – click below to schedule a consultation today.

How to Find Premier Office Suites in NYC

nyc-office-rentingPremier office suites exist all over NYC for businesses who are seeking to boost their image and make their workplace employee friendly. As trends in office design and workflow have changed, commercial property developers have taken note and started building some incredibly modern and thoughtful office suites.

Premier Office Suites in NYC

These tips will help you find premier office suites fitting your organization’s size and needs.

  1. Know How Much Space You Need – One of the most popular changes in office design today is openness and lack of clutter. Many high end developers have gone to great lengths to make their office spaces exemplify this free flowing atmosphere. However, if you move too many people into a tight space, you probably won’t achieve the luxury feel you were looking for. In general, business owners should estimate about 250 square feet of space per employee. This number can move up or down slightly depending on the industry. Some companies require more space for client meetings, while others can afford to trim this requirement to a minimum.
  2. Know What You Are Trying to Project – Your office space represents your company as a whole. When it comes time to look at premier office suites around NYC, ask yourself what type of image you are trying to forge for yourself. Do you want to be seen as modern and cutting edge? Or are you looking for something classic, familiar and trustworthy? Remember, this image is not just about customers. It’s also about employees and prospective employees who will be coming to your offices every day.
  3. Know Where You Are Headed – A great deal is only premier if it actually serves your long term goals. How much growth do you expect in the next few years? If you achieve this growth, will you have to move across town or can you expand upon the space you’re looking at today? What kind of infrastructure do you need to support your growth? If you aren’t sure what your future looks like, it can be very difficult to choose premier office suites that are conducive to your business objectives.
  4. Know What A Space Is Worth – The value of any particular piece of real estate according to the market is only one piece of the puzzle. Take a step back and consider what the space is worth to you. Is your new office space going to be the key to taking your business to the next level? Is it going to be a place where you can connect with the community that you are working in? Is it a representation of all the work you have done thus far? The amount you are willing to pay to be in a specific part of NYC, or to attain a certain type of office is often influenced by personal factors beyond the market itself. Take some time to determine what the space is worth in those terms.

Premier Agency Providing Office Suites in NYC

Commercial real estate developers continue to add more premier office suites to NYC’s market every day. The style of offices has evolved over time to include a wide range of features conducive to today’s working class. The team at Handler Real Estate are happy to help you find your perfect office space. Call 212.398.1888 – or – click the icon below to schedule your consultation today.