The Commercial Real Estate Blog

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.