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What you need to know about leasing an office space in New York: A Comprehensive Guide.

Manhattan, Brooklyn, Queens, Bronx, Staten Island

Finding office space in New York City may seem overwhelming, but it doesn’t need to be. With these helpful tips, you can discover the perfect workspace for your business and secure a favorable lease agreement.

1. Understand your needs.

Before you start looking at office spaces, take some time to think about your needs. How much space do you need? What kind of layout do you need? What amenities are important to you? Do you need a space that is close to public transportation or to certain amenities? Once you have a good understanding of your needs, you can start narrowing down your search.

2. Do your research.

Once you have a list of potential office spaces, take some time to research each one. Read online reviews, talk to other tenants, and visit the space in person. This will help you get a better sense of the space and whether or not it’s a good fit for your business.

3. Work with a broker.

A commercial real estate broker can help you find the right office space for your business and negotiate the best possible lease terms. Brokers have access to a wide range of office spaces and they know the market inside and out.

4. Understand the lease terms.

Before you sign a lease, be sure to understand all of the terms and conditions. This includes the rent, the lease term, the security deposit, and any other fees. It’s also important to understand your rights and responsibilities as a tenant.

5. Negotiate the best deal.

Once you’ve found a space that you like and you’ve read the lease terms, it’s time to start negotiating. Be prepared to walk away if you’re not happy with the terms. With a little negotiation, you should be able to get a good deal on your office space lease.

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Additional tips for leasing an office space in New York City:

Start your search early.

  • The office space market in New York City is very competitive, so it’s important to start your search early. This will give you more time to find the right space and negotiate a good deal.

Be flexible with your location.

  • If you’re flexible with your location, you’ll have more options to choose from and you may be able to find a better deal. Consider leasing office space in less popular neighborhoods or in boroughs other than Manhattan.

Be prepared to compromise.

  • You may not be able to find the perfect office space, but you should be able to find a space that meets most of your needs. Be prepared to compromise on some things, such as the size of the space, the layout, or the amenities.

Ask about free rent and other concessions.

  • Landlords are often willing to offer free rent or other concessions to attract tenants. Be sure to ask about this before you sign a lease.

Get everything in writing.

  • Once you’ve agreed to the terms of a lease, be sure to get everything in writing. This will help to protect you in case there are any problems down the road.

The best areas to lease office space in New York based on factors such as popularity, amenities, and accessibility:

  • DUMBO (Down Under the Manhattan Bridge Overpass): DUMBO is a trendy neighborhood in Brooklyn that is home to a number of creative and tech companies. The neighborhood offers a variety of office space options, from converted warehouses to modern high-rises.
  • Downtown Brooklyn: Downtown Brooklyn is the central business district of Brooklyn and is home to a number of Fortune 500 companies. The neighborhood offers a variety of office space options, from high-rise buildings to converted brownstones.
  • Williamsburg: Williamsburg is a popular neighborhood in Brooklyn that is home to a number of startups and creative companies. The neighborhood offers a variety of office space options, from converted lofts to modern office buildings.
  • Bushwick: Bushwick is an up-and-coming neighborhood in Brooklyn that is home to a number of artists and creative businesses. The neighborhood offers a variety of office space options, from converted warehouses to industrial lofts.
  • Park Slope: Park Slope is a family-friendly neighborhood in Brooklyn that is home to a number of small businesses and startups. The neighborhood offers a variety of office space options, from converted brownstones to modern office buildings.

Other neighborhoods in Brooklyn that offer good office space options include: Cobble Hill, Fort Greene, Greenpoint, Navy Yard, Red Hook, Sunset Park.

  • Longwood: Longwood is a rapidly developing neighborhood in the Bronx. It is home to a number of new office buildings, as well as several Fortune 500 companies. Longwood is also well-connected to public transportation, making it an ideal location for businesses of all sizes.
  • Mott Haven: Mott Haven is another up-and-coming neighborhood in the Bronx. It is home to a mix of new and old office buildings, as well as a number of restaurants and shops. Mott Haven is also well-connected to public transportation, making it an ideal location for businesses of all sizes.
  • Melrose: Melrose is a vibrant and diverse neighborhood in the Bronx. It is home to a number of small businesses and startups. Melrose is also well-connected to public transportation, making it an ideal location for businesses of all sizes.
  • Tremont: Tremont is a historic neighborhood in the Bronx. It is home to a mix of new and old office buildings, as well as a number of restaurants and shops. Tremont is also well-connected to public transportation, making it an ideal location for businesses of all sizes.
  • Soundview: Soundview is a waterfront neighborhood in the Bronx. It is home to a number of new office buildings, as well as several Fortune 500 companies. Soundview is also well-connected to public transportation, making it an ideal location for businesses of all sizes.
  • Midtown Manhattan: This is the most popular area to lease office space in Manhattan, and for good reason. It is home to many of the city’s most iconic landmarks, including the Empire State Building, the Chrysler Building, and Rockefeller Center. Midtown Manhattan is also well-served by public transportation, making it easy for employees to get to and from work.
  • Downtown Manhattan: This area has become increasingly popular in recent years, as it has undergone a major transformation. Downtown Manhattan is now home to many new office buildings, as well as a variety of restaurants, shops, and cultural attractions. It is also well-served by public transportation.
  • Hudson Yards: This new development on the West Side of Manhattan is quickly becoming a popular place to lease office space. Hudson Yards offers a variety of state-of-the-art office buildings, as well as a variety of amenities, including a public park, a shopping mall, and a performing arts center.
  • Chelsea: This neighborhood in Midtown Manhattan is known for its art galleries, boutiques, and restaurants. It is also home to a number of high-tech companies. Chelsea is a good option for businesses that want to be in a creative and dynamic neighborhood.
  • SoHo: This neighborhood in Lower Manhattan is known for its cast-iron architecture and its trendy shops and restaurants. SoHo is a good option for businesses that want to be in a stylish and sophisticated neighborhood.

Other popular neighborhoods to lease office space in Manhattan include: Tribeca, Flatiron District, Union Square, Garment District, Financial District, Midtown South, East Village, West Village.

  • Long Island City: Long Island City is a rapidly growing neighborhood in Queens that is home to a number of tech companies, startups, and other businesses. It is also home to the Gantry Plaza State Park, which offers stunning views of the Manhattan skyline.
  • Astoria: Astoria is a vibrant neighborhood in Queens with a diverse mix of businesses and residents. It is also home to the Museum of the Moving Image and Socrates Sculpture Park.
  • Jackson Heights: Jackson Heights is a diverse neighborhood in Queens with a large Hispanic population. It is also home to the Jackson Heights Historic District, which is one of the largest historic districts in the United States.
  • Flushing: Flushing is a central neighborhood in Queens that is home to a number of businesses, restaurants, and attractions, including the New York Hall of Science and the Queens Center shopping mall.
  • Forest Hills: Forest Hills is a quiet neighborhood in Queens with a mix of residential and commercial properties. It is also home to the Forest Hills Tennis Stadium, which hosts the US Open tennis tournament each year.

Other notable neighborhoods for leasing office space in Queens include Sunnyside, Woodside, and Ridgewood.

  • The Corporate Park of Staten Island: The Corporate Park of Staten Island is the largest private real estate developer on Staten Island, and they offer a wide range of office space options to choose from. Their office spaces are located in a variety of locations throughout the island, and they offer a variety of amenities, such as conference rooms, fitness centers, and on-site parking.
  • The Staten Island Mall: The Staten Island Mall is a large regional shopping mall, but it also offers a variety of office space options for lease. Their office spaces are located in a convenient location, and they offer a variety of amenities, such as on-site parking and security.
  • The Staten Island Ferry Terminal: The Staten Island Ferry Terminal is a major transportation hub, and it also offers a variety of office space options for lease. Their office spaces are located in a convenient location, and they offer a variety of amenities, such as on-site parking and security.
  • The Staten Island Teleport: The Staten Island Teleport is a major telecommunications hub, and it also offers a variety of office space options for lease. Their office spaces are located in a convenient location, and they offer a variety of amenities, such as on-site parking and security.
  • The Staten Island Business Center: The Staten Island Business Center is a co-working space that offers a variety of office space options for lease. Their office spaces are located in a convenient location, and they offer a variety of amenities, such as conference rooms, a kitchen, and high-speed internet.

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In 1732, the British Debt Recovery Act was passed and changed the United States Commercial Real Estate community forever. This act allowed British merchants to buy and own more than just their living property, and brought up the idea that land can be used instead of money.  By the 19th century, Brooklyn’s population, commercial, industrial and residential development had reached its peak, with the majority of the territory being urbanized. 

Years later, during the 20th century, real estate benefitted the States drastically. During this time, the first realty company was created (The National Association of Realtors).  The National Association of Realtors was first founded as the National Association of Real Estate Exchanges on May 12, 1908 in Chicago. It originally had 120 members, 19 boards and one State Association, which of course all grew as time went on. The main goal this association hoped to accomplish was “to unite the real estate men of America for the purpose of effectively exerting a combined influence upon matters affecting real estate interests.”

Brooklyn was one of the greatest shopping locations, filled with both shops and residents. There were two attempts at urban renewal; one in the 50s/60s and one in the 80s/90s. The reason they were just attempts, and not successes was because of people like Jane Jacobs. At the time of the 50s/60s renewal, Jane was a 45 year old woman, working as editor of Architectural Forum. She believed that the renewal was not beneficial, rather it will destroy the city. On February 20, 1961, Mayor Robert Wagner announced that Jane’s area was going to be urbanized.   

On February 25th, a Saturday night, 300 people met in St. Luke’s School at Hudson and Christopher Sts to put together the committee that would end up saving their city. Their aim was to completely get rid of the urbanizing project and keep their city intact. Within that week, children were creating and giving out posters and petitions,  while their parents informed people in cafes and other shops. On March 21, Manhattan Borough President, Edward Dudley, examined homes and stated that this neighborhood was not filled with “slum dwellers”. 

On August 17, the mayor stated that no urban renewal can be done to this city because it would ruin the “village traditions”. He later asked the committee to agree to the “blighted” area so that the renewal does not end up happening to them, but Jane did not want to accept these terms. Because of her rejection, on October 18, the Planning Commission said the urban renewal can be done in their city.  

Jane then called a press conference to show the proof that there was a prearranged deal to urbanize their city. She had the resume of a man named Barry Benape that had written on it that he prepared sketches for the renewal. Barry’s papers were typed on the same typewriter that printed petitions that were pro the renewal, dated in October 1960; before the renewal plans were even publicized.  Barry tried to play it off as a typo, and stated that it was actually created in 1961. Days before his reelection, the mayor stated he was very against urbanizing their city, so the Housing and Redevelopment Board got rid of it for good. 

As time went on, Commercial Realty helped the economy grow and prosper. By the 21st century, the real estate world went digital, making it even easier for realtors and spaces to be found. Commercial realtors know that in order to be successful, they have to give it their all before they see success; and that no matter the time or place, when commercial realty is the topic, the community is the main focus. Later on, in 2004, there was a Downtown Brooklyn Rezoning. 

The Downtown Brooklyn Rezoning changed the future of both Downtown       Brooklyn and Brooklyn for the better. The idea of the Rezoning was that over 10 years, the area would reach 4.6 million square feet of office space, 850,000 square feet of retail, and 1,000 units of houses.  In the end, the Rezoning only ended up using 1.3 million square feet for commercial space, and used 9.8 million square feet for residential lots.

Even so, this Rezoning was very successful, adding both private and public funding to the Downtown Brooklyn area, creating the society that we live in today. An analysis conducted by the Downtown Brooklyn Partnership in 2015 stated that this Rezoning brought $400 million in public funding and $4 billion in private investments. It created 6,700 new apartments and 530 houses that were more affordable than others. As time passed, many commercial lots opened in Downtown Brooklyn. One off those lots was a 420,000 square foot office-tower created for development at 420 Albee Square.  

Because of the Rezoning, Downtown Brooklyn is thriving with business and is a great commercial realty location. Per the rezoning and the location of Downtown Brooklyn, it became the third largest business district of NYC. Downtown Brooklyn was also involved in the development of new condominium towers, office conversions, and townhouses such as BKLYN Air and The Brooklyner Apartments;  leading to population growth. Because of the drastic residential growth, more income was brought to the area, which led to more luxurious services around there, such as fancier restaurants and better schools.

As of 2010, the Downtown Brooklyn district had 2.6 million residents. Because of the ongoing growth of residents, from 2010 to 2013, a 1,200 square foot, three bedroom apartment raised its selling prices from $600,000 to $900,000. Apartment rentals also raised their prices drastically; a $2,666 apartment in 2010 was raised to $3,309 a month in 2013.

Downtown Brooklyn is a very popular location because there are 13 subways that go through it, making it very easy for the public to commute. Some of the stations are: Borough Hall, York Street Subway Station, High Street – Brooklyn Bridge Station, Jay St. Metro-Tech Subway Station, Hoyt St, Bergen St Station, Jay Street Metro Tech, High Street Metro Station and Clark Street Subway Station. 

 Since the population grew annually, more and more groceries and schools opened. By the end of 2013, there were schools throughout Boerum Hill, Brooklyn Heights and Fort Greene.  

Presently, more and more apartments are being built in the Downtown Brooklyn, Fort Greene and Vinegar Hill areas.  The New York City Housing Authority does not have enough land to cover all the residents in the city, so they plan on converting empty parking lots, community centers and playgrounds into apartments. Because of all of this, 2.9 million more square feet are going on the market in Brooklyn Heights, DUMBO and Downtown Brooklyn.

DUMBO, short for Down Under the Manhattan Bridge Overpass, was originally a place for ferries to dock. In the 20th century, it was bought by David Walentas, the owner of Two Tree Management, who turned DUMBO into the residential and commercial community we know it as today. When he first started developing it, it became the main place for art galleries, then later on became the center for technology startups. At that time, it was known as Rapailie, Olympia, and Walentasville. Because of this, DUMBO became Brooklyn’s most expensive neighborhood, being that it was nicknamed “the center of the Brooklyn Tech Triangle”. 

In the 1890’s, DUMBO was mainly a manufacturing neighborhood; where machinery and the cardboard box were created. Because of the popularity of the cardboard box, the DUMBO neighborhood was called Gairsville, after Robert Gair, the creator of the cardboard box.

While NYC was being deindustrialized, DUMBO became the main residential part of the city. The residents of that time decided to call it DUMBO because they believed this title would keep others away. Towards the end of the 20th century, Manhattan properties became more expensive, and DUMBO was improving drastically. It wasn’t properly known as DUMBO until 1997, and mainly catered to artists. Even so, there were still many AC repairs and auto shops; and because of its industrial past, DUMBO did not have one laundromat, coffee shop, or bookstore in sight at the time.

Overall, it took Brooklyn a long time to get to where it is today. There was a rezoning, there were almost two urban renewals, ferry docks were turned into apartments and shops and areas that once didn’t have residents soon became the third largest business district in NYC. All these little steps helped lead Brooklyn to become the thriving city it is known as today, the place that we now call home.

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