Finding the right office space in NY for your business can be a daunting task.
Follow these five guidelines to simplify the process.
The Perfect Office Space in NY
Location, Location, Location. Although New York City may be your company’s first choice, exorbitant rents and overly compact spaces are often deal breakers. As an alternative, consider relocating to nearby Yonkers. With over four-and- a-half miles of waterfront property, some of Westchester’s largest corporate parks, and premium industrial, commercial and warehouse space—you can’t go wrong!
Find the Right Broker. You will be working with this person day in and day out, so chemistry is important. A high-pressure sales person will drive you crazy while an indecisive broker can be just as frustrating. It’s important to find someone who is familiar with commercial real estate as well as the geography of the location you are looking at.
Don’t Rent More Space Than You Need. Remember the rules of retail—it’s not a great deal if you don’t need it. This is especially true for startups; avoid wasting money on space your organization doesn’t need.
Is Your Perfect Office Space in NY, Perfect—As Is? Or does it require minor layout changes? If so, find out if the landlord contributes to tenant improvements (TI). Ask about nearby parking options. Also, inquire as to which amenities, if any, are included.
Last But Not Lease…(we couldn’t resist!) If everything works—except for the lease—than that’s a problem. Scour the contract for hidden costs and fees. Find out if utilities are included, and if not, request an estimate. If necessary, hire a real estate lawyer to review the lease.