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MANHATTAN OFFICE SPACE ™ |
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Although we maintain a professional relationship with landlords, we ONLY represent commercial tenants (unlike virtually all other brokers). Why? Because representing both sides, even at different times, creates an appearance of, or an actual, conflict interest, that harms you. Manhattan Office Space ™ was the first NYC brokerage to provide useful information on the Internet. While others try to imitate our name and reputation, Manhattan Office Space ™ is a registered service mark with the United States Patent and Trademark Office, and the only company authorized to do business under that name There's only one Manhattan Office Space ™ that can actually SAVE YOU TIME AND MONEY. |
Doesn't it make more sense to benefit from the FREE professional services of Manhattan Office Space ™ to find the perfect office space, instead of pouring over useless listings that don't meet your requirements, have to view space on your own, and be distracted from your business? In these uncertain financial times, we know the market and are prepared to devote as much time as necessary to fulfill your needs, throughout the entire rental process. This site is designed to help commercial tenants quickly identify 1500 to 50,000sf of Manhattan Office Space ™ retail, medical, loft and office space in New York City. Get up-to-date listings, photos and floor plans within 2 hours from the #1 Ranked Internet Site in America, then be escorted to view an excellent selection of space. Just complete the brief information at Space Survey, Retail & Medical or Non Profit to obtain all listings within two hours. Please take a moment to read the letter of recommendation, by a multi-billion dollar international company, describing the quality, breadth and value of our services, at the bottom of this page. Ten years ago, we established a commercial real estate services division by the name “Manhattan Office Space. ™” At the time, virtually nobody advertised the leasing or selling of commercial real estate in New York City using the name “Manhattan Office Space," nor did anyone conduct business under that name. Since then, however, hoards of “want-to-bes” have tried to use our Federally registered service mark in advertising or attempted to trade off our success as a tenant-only brokerage in New York City. But don’t be deceived—there’s only ONE Manhattan Office Space ™ that can help you find the Right Space at the Right Price.™ 7 Highly Efficient Ways to Save Time & Money with Manhattan Office Space ™
State of the Market
Downtown
Incentives have lured overseas investors, the overall vacancy rates have
dropped 21% and asking rents (especially in A buildings) have increased
by 43%. But the current financial market uncertainties have
stabilized or lowered rents in all Submarkets (the overall vacancy rate
in Manhattan is currently 9% and will likely go higher). Financial Incentives Manhattan Office Space ™ will help you take advantage of lower rents, tax exemptions and subsidies that end soon Downtown. It is, therefore, an opportunistic time for tenants to obtain long term leases at reduced rents with more generous concessions. Background Manhattan Office Space ™ was established in 1998 and is today the #1 resource for retail, non-profit, medical and office space in New York City. We offer clients a wide selection of lease or purchase options, obtain the finest space and negotiate the most favorable terms within weeks, not months. The CEO of Manhattan Office Space ™ is J. Lawrence Zegarac, a licensed real estate broker and active member of the California (www.calbar.org) and New York State bar associations. For over 25 years, Mr. Zegarac has successfully represented commercial clients in Asia, Europe and North America. The Difference Because the CEO of Manhattan Office Space ™ negotiates the business terms of every lease or sublease, that critical job is not delegated to an associate or agent-in-training, as is the case with many brokerages. Mr. Zegarac has negotiated contracts with Fortune 500 companies (IBM, Enterprise Rent-A-Car, ADP Corporation, etc.), the Singapore Government and many other multi-national companies. He knows the commercial real estate market, each building, the asking and taking rents, and the leverage your company can exert through the intelligent use of financials, company brochures, etc. With his expertise, significant concessions can be obtained on your behalf from the widest selection of available space. The Process Manhattan Office Space ™ provides professional brokerage services that others can only promise. Manhattan Office Space ™ approaches each client individually, assesses its space needs (present and future), and then provides an extensive Survey of ALL available space in locations selected by our client, except those buildings owned by unsavory landlords. In addition, Manhattan Office Space ™ does not attempt to influence its clients to lease larger space or those with a longer term (as other brokerages often do, simply to make more money.) Once we’ve prepared a Space Survey, our clients will typically select 6-12 spaces they’d like to see. Manhattan Office Space ™ then contacts every building agent to obtain additional information to determine whether the space is, in fact, suitable and uncover any potential hidden charges or issues. Manhattan Office Space ™ will then often add spaces that may be newer listings or those which could potentially fit the client’s needs. It normally takes 2-3 days for Manhattan Office Space ™ to arrange showings, and a printed itinerary is emailed to the client. Our tours typically last 2-3 hours, covering 9-12 buildings. On the day of showings, Manhattan Office Space ™ personnel personally accompany clients to every space, making notations of work that needs to be done, asking salient questions of the building agent (location of wet columns that can be used for a pantry, HVAC age and condition, electrical panel output, flooring conditions under existing carpeting, expansion potential, etc.), and answering any of the client’s questions. On many occasions, the CEO of Manhattan Office Space ™ accompanies clients, in order to address any issues personally, instead of delegating this important job to someone else. Once the perfect space is found by Manhattan Office Space, ™ we negotiate the most favorable business terms for our client and prepare a written proposal, submit financial information (Balance Sheet and P&L), and have the client provide a brief, 1-2 paragraph written summary of its company, which highlight its history, operations and projected revenues. Manhattan Office Space ™ will periodically encourage a client to personally meet with the landlord to establish a more personal relationship. This technique is not feasible with REITS, but Manhattan Office Space ™ strives to develop a personalized, working relationship between Tenant and Landlord, before the lease is signed, which always works to the Tenant’s advantage (in terms of free rent and other concessions). After Manhattan Office Space ™ has negotiated the very best business terms for our client (length of lease, rent, free rent, operating cost and real estate tax escalations, Landlord work, etc.), we prepare a Term Sheet from which the prime lease or sublease is prepared. Manhattan Office Space ™ also ensures the tax base year (from which any real estate tax escalations are calculated) is based on terms most favorable to the client. For example, most leasing agents will try to include future tax increases based on the current tax year, even though the new tax year is only months away. In New York, the tax year runs from July 1st though June 30th. So, if you sign a lease in May, you could be facing a large tax increase in July, instead of having no tax increase for 14 months. Manhattan Office Space ™ therefore uses the most favorable formula to calculate its client's tax base year (which sometimes might be a calendar year), or has an adjustment included in the lease that excludes any increase while the tenant was not actually occupying the space. If Tenant Improvements are part of the lease, Manhattan Office Space ™ does two other important things. First, we include in the lease a description of any alterations that will be made to the space (otherwise, you’ll have to submit a request later that has to be separately approved by the landlord, wasting time and costing money). Second, Manhattan Office Space ™ can recommend reputable and reasonable architects and contractors to obtain permits and complete Tenant Improvements in a timely manner. However, we never request nor receive any consideration for this type of referral. Manhattan Office Space ™ personnel often visit the space while work is being done to further insure that the work conforms to the Landlord's commitment, and co-ordinate lease issues with other involved professionals. When the prime lease or sublease is prepared by the landlord’s attorney, Manhattan Office Space ™ reviews all of the business terms to confirm they accurately reflect the agreement between the parties. This includes operating cost escalation calculations, Landlord Work, insurance, tax increase calculations, term of lease, free rent, and other critical factors. As an attorney, Mr. Zegarac (who reviews all of the leases/subleases) is prohibited from offering legal advice when acting as a real estate broker. Nevertheless, he can and does speak with the Tenant’s attorney to discuss issues that might otherwise be overlooked (insurance amounts and coverage, estoppel provisions, etc.). Manhattan Office Space ™ doesn’t advertise (e.g., Ad Words, Banner Ads, etc); we don’t get paid referrals from contractors or office suppliers; nor do we accept any other compensation (gifts, money, etc.) for doing our job. Manhattan Office Space ™ receives a fee from the owner (similar to a residential sales transaction), so you don't incur any costs. Manhattan Office Space™ works ONLY for you to find and lease the perfect retail, medical or office space in New York City. While some companies try to imitate our name, we ARE the only Manhattan Office Space ™ in the United States, and are registered with the US Patent and Trademark Office. Most brokerages consider you a “customer,” not a client—in other words, caveat emptor. We, however, follow the Golden Rule of business-- “Treat your client as you would have your client treat you.”Below is a letter from a multi-billion dollar, American corporate client re: our services:
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