http://trdny.com/T3G2Qy

next move -- other markets...seems logical at least

Good for SE, they deserve a good move. It appears to be a good workplace.

"But wouldn't it have been much better for them to buy? They're just giving all their money to the landlord."
Alan the same thing went through my mind considering mid 40's per month. They also had to wait a year or so for tenant to vacate, in that time they might have found some structure or large loft for sale in that area? Just sayin'.

It's mid-40's per year, not per month.

congrats SE team. looks like it will be a great place to work.

"It's mid-40's per year, not per month."

Clearlly I'm not a commercial lease junkie. I didn't know how much space there was. Mid 40's per year; then by all means rent.

To add / clear confusion, I meant mid-40's ppsf per year would be a typical way to quote rent. But mid $40K rent per month could also be plausible, albeit somewhat high based on my limited knowledge.

if it is $40k per year for 7,500 sq ft it is the best deal in all of nyc...doesn't make sense

it should be about $40k per month as it is about 7,500 sq ft or $5.33 per sq ft, which is within normal range in the area

as far as buying vs renting commercial property it is not uncommon to rent if your business is doing well. you are trying to maximize wealth. why borrow money to earn a 4-8% return on your capital, when u can rent, save cash monthly and use it to invest in your business that should earn significantly upwards of 20%.

that same place may cost them close to $8 million and commercial deals require a lot more cash and significantly decreased flexibility, both horrible things for a start-up or most privately owned businesses. if the revenue justifies the deal, it makes sense.

The story says they're paying "mid-40s" per ft² per year. If that's $45, then $28,125 per month for their 7500 ft².

the link doesn't mention anything about sq ft, just says mid-40s

Congratulations, Streeteasy! (nice looking pad.)

"The story says they're paying "mid-40s" per ft² per year. If that's $45, then $28,125 per month for their 7500 ft²."

Thanks NWT, that makes sense. An awareness of commercial leasing always been on my list of things to do along with organizing closet space. Neither of which will come to fruition I am sure.

Congratulations, StreetEasy! We've ALL known how terrific you are & it sounds like a great place to work. Good on you!