Tag Archives: NYC Office Space

Are NYC’s office brokers neglecting startups?

zandieh startups

Considering the real estate industry’s current obsession with tech companies, this number is surprising: a third of New York’s tech startups have never been contacted by a leasing agent, according to a new survey by real estate consulting firm RE:Tech.

This may be because many of these startups are simply to small to appear on brokers’ radars, according to RE:Tech founder Ashkan Zandieh.

“If a company doesn’t announce a funding round or is too small in size, many commercial real estate brokers will be uninformed about the startup,” he said, and may also shy away from spending time and resources building relationships with fledgling companies.

Some brokerages have tried to tap into the startup boom. Earlier this month, tech-focused office brokerage TheSquareFoot teamed up with PivotDesk, which allows startups to sublease office space from larger companies. TheSquareFoot will refer startups looking to sublease to the shared-office platform, while PivotDesk can in turn refer firms looking to upgrade to regular leases to TheSquareFoot. Meanwhile, brokerage giant Avison Young invested in LiquidSpace, a listing platform for short-term office space.

Still, the survey, which included responses from 50 New York startups, seems to indicate brokerages have a ways to go in their courtship of these companies. Brokers who forge an early connection with these startups stand to profit handsomely if the firms take off. Several real estate firms are among the fastest-growing tech startups in New York, attracting millions in venture funding.

Less surprisingly, the survey found that the vast majority of tech startups favor flexible, short-term leases. About 80 percent of respondents said they favor a sublease over a lease. About 60 percent said their ideal lease term is between three and five years, while the remaining 40 percent preferred a lease term of between one and two years. None of the respondents were keen on five-year-plus lease.

“We need flexibility,” one of the respondents wrote. “The future is very unclear and can bring tremendous growth, no growth, or going out of business.”

– See more at: http://therealdeal.com/blog/2015/08/27/are-nycs-office-brokers-neglecting-startups/#sthash.9Nlj0KnB.dpuf

IMG_5273

As office space gets smaller, changes in office dynamics

As the average amount of space per office worker has dropped, the dynamic in the office environment has changed.

Read more here:

http://www.nytimes.com/2015/02/23/nyregion/as-office-space-shrinks-so-does-privacy-for-workers.html?_r=0

2 Gansevoort Street

Yesteryear’s $3 per-square-foot space goes for $100-plus

Nearly 70 years after buying a building in Manhattan’s grimy meatpacking district, the landlord has just cut a deal for the penthouse at a very tasty rent.

Read more here:

http://www.crainsnewyork.com/data-lists/real-estate-deal-watch/details/12/3233195

 

MoAandD

12 Ugliest Buildings in NYC

TimeOut New York reviews what some consider the 12 ugliest buildings in New York City

Read more here:

http://www.timeout.com/newyork/things-to-do/the-ugliest-buildings-in-nyc

NYC from Hoboken

Office leasing was hot in 4Q 2014

Office leasing in Manhattan ended 2014 strong. The borough’s vacancy rate dropped to 9.5%.

Read more here:

http://www.crainsnewyork.com/article/20150105/BLOGS03/150109996/office-leasing-was-hot-in-4q-2014

2014 12 11 phone kiosk

City Approves Plan to Convert Pay Phones to Wi-Fi Hot Spots

The plan to convert New York City’s obsolete pay phone kiosks into Wi-Fi hot spots was approved unanimously by the Franchise and Concession Review Committee. The $200 million LinkNYC plan will eventually bring up to 10,000 hot spots to the city over the next eight years.

Read more here:

http://www.nytimes.com/2014/12/11/nyregion/plan-approved-for-wi-fi-at-new-york-citys-pay-phones.html?partner=rssnyt&emc=rss&_r=2

115-Delancey-St 20141209

Long-planned LES project inks first tenant

Regal Cinemas theater will take 65,000 square feet at the base of a rental apartment building to be built at 115 Delancy Street

Read more here:

http://www.crainsnewyork.com/article/20141208/REAL_ESTATE/141209868/long-planned-les-project-inks-first-tenant#utm_source=Real%20Estate%20Daily%20%5BRED%5D%20Alert&utm_medium=alert-html&utm_campaign=Newsletters

205 East 42nd Street

WeWork moves uptown

The provider of office suites to creative users and startups, which generally prefers “cool” locations, will open its first midtown outpost at 205 East 42nd Street.

Read more here:

http://www.crainsnewyork.com/article/20141205/REAL_ESTATE/141209883/wework-takes-a-walk-on-the-staid-side

2014 12 02 Bergdorf Goodman

Trimming NYC’s List of Potential Landmarks

The Landmarks Preservation Commission is proposing to remove more than 100 structures from their list of buildings under consideration for protection as historic landmarks.

Read more here:

http://www.nytimes.com/2014/12/02/nyregion/proposal-would-trim-new-york-citys-list-of-potential-landmarks.html?_r=0

20141201 taxi

NYC Taxi retires to Vermont

After 310,000 miles on the streets of New York City, one taxi has “retired” to Vermont.

Read more here:

http://www.nytimes.com/2014/11/29/nyregion/new-york-taxis-retirement-a-quiet-life-on-country-roads-in-vermont.html?partner=rss&emc=rss&_r=0