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How to Find Better Office Space in New York For Your Business

Posted On : Nov-11-2011 | seen (170) times | Article Word Count : 909 |

It has never been an easy job to find an ideal office space in New York City, the home of the world's first skyscrapers, and then the venue for vacancies and affordable rents. Economic downturn and the crisis is helping to make it easy on the pocket for tenants to move into Manhattan and play with the big boys.
It has never been an easy job to find an ideal office space in New York City, the home of the world's first skyscrapers, and then the venue for vacancies and affordable rents. Economic downturn and the crisis is helping to make it easy on the pocket for tenants to move into Manhattan and play with the big boys.

How would you find the office space in New York that's right for you?

Let's start with picking a broker or agent. Try to find someone who has many listings online. That would provide a great idea of location and price. Make a phone call and speak with the salesperson. If they seem pleasant, interested and aggressive, chances are they will look out in your best interest and negotiate a lease for a lot better terms than the asking price; considering so many businesses closing there is no better time to wheel and deal with the landlord.

Lease agreements for commercial property in The Big Apple could be complex and all sorts of hidden charges abound in triple net leases and common area maintenance fees. A great agent usually leads you through these areas.

Carefully consider the spot where you plan to be. If you reside on the Island or west side of the Hudson, you might want bridge, tunnel and train station access. Or you may like to impress customers and clients by having an A class building. At this time it is easy to get yourself a built- out, turn- key commercial property that you may move into tomorrow morning. Or you may choose to design your own personal decor that makes a statement about your business. Keep in mind parking issues. Wall Street may be laying off workers, but parking in New York will almost allways be at a premium.

Are you making your first move into the Big Apple from a prior office in Long Island or New Jersey? Maybe it's best to go slowly and see if the economy rebounds before signing up for a long term lease for a few thousand square feet.

Executive suites, or what some call shared office space or full service offices, are less expensive and provide you with all the options and amenities of leasing your own office. Leases can be obtained from under 100 sq. ft. to 3,000 and perhaps 5,000 sq. ft.

Sharing space will give you your own office to meet up with customers in, and provides you use of a reception area and receptionist, conference rooms, kitchens, fax and photocopy machines, online connections with T1 lines, and possibly even a great city view from your office.

Full service office leases are usually signed for one to twelve month terms, and many owners add in even a full complement of furniture. Everything you need to do is sit back behind the desk and get to work.

Perhaps you have an established business which even in these hard times is still conducting business, grossing money, and turning a profit, and you also believe that it's the perfect time to have a Manhattan address to draw international and national business and let your customers realize that you are a New York City company which includes a full line of services and products. You want more than an executive suite; you desire your own office along with your name on the door and a brass plate.

These days, first class Fifth Avenue locations are going for $50 a sq. ft., and the landlords are seeking 5 to 10 year leases. At 3,400 sq. ft. of space, you're paying about $14,000 a month.

Maybe a little farther downtown is exactly where you want to be to network and connect to the financial services world. Office spaces to rent in Chelsea, south of Canal and north of Wall, can be had for $26 a sq. ft., and offer pretty good views of downtown when you need to take a break.

Forty Second Street is within the core advertising and media world. Class A space has been offered for $40 a sq. ft., and spaces have built out offices and conference rooms, ready to move into.

The Penn Station zone has listings for $32 a sq. ft., and Grand Central commercial properties for rent are going for $42 a sq. ft. These places all offer from 3,000 to 7,000 sq. ft. of availability.

Before you sign that lease, ask a few questions. Is utility included or will it be an add-on? Oftentimes utility is provided directly without extra charge. Will the owner permit you an allowance for any build out? Are you being asked to personally guarantee a corporate lease? It is possible to limit guarantees to a few months or simply a specified amount.

Don't take it for granted that an old building certainly comes with elevator or AC. Ask initially and test everything out when you go to visit.

Ensure that your business is licensed to run in the building. Not all operations are permitted. If you want to be near CPA's, lawyers, courthouses, media or consultants, take a look at the directory in the building for that types of businesses which are gonna be your neighbors.

Office Space in New York is there begging to get rented. All you need to do is think right before you leap.

Article Source : http://www.articleseen.com/Article_How to Find Better Office Space in New York For Your Business_103321.aspx

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In a hurry to get your office search done? Why not to compare plenty of New York Office Space in just one stop.

Keywords : New York, Office Space, Executive Office,

Category : Business : Business

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