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downtown commercial space need a good agent

Started by askwangd
almost 15 years ago
Posts: 22
Member since: Feb 2010
Discussion about
I like to rent out a commercial loft at the Union Square area.I have no ideas how to start,just put a sign on the window,Can you give me some advises!any local commercial rental realtor recommended? Thanks
Response by dwell
almost 15 years ago
Posts: 2341
Member since: Jul 2008

I think you should first discuss this with your RE lawyer. What are the permitted uses for this loft? How long a lease do you want? Look at neighboring blds/lofts: what type of tenant occupies similar space in the bld/neighborhood? Also suggest you read some books on how to be a (commercial) landlord.

If you hire a broker, he/she will probably ask you to sign an agreement. IMO, do not sign anything until after your lawyer reviews/re-writes the agreement. And, even if there is no written agreement, a broker could claim a fee by presenting you with a tenant.

this web site may give you an idea of rents:
http://therealdeal.com/deals/office
http://therealdeal.com/deals/retail

I suggest you do a lot of home work/due diligence before you sign any brokerage agreements &/or leases because there can be many pitfalls.

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Response by dwell
almost 15 years ago
Posts: 2341
Member since: Jul 2008

http://therealdeal.com/deals/office?page=8

24-32 Union Square East
The branding and design consultancy firm signed a two-year lease. March 2011

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Response by NYCREAgent
almost 15 years ago
Posts: 156
Member since: Sep 2010

Call Adam Sanchez in our Mercer Street office. His number is on our website.

Scott K
Bond New York

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Response by vslse65
almost 15 years ago
Posts: 226
Member since: Feb 2011

askwangd - How big is the space and what are you asking for rent?

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Response by askwangd
almost 15 years ago
Posts: 22
Member since: Feb 2010

vslse65-the commercial space is 2000sf,asking 9800/per month

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Response by jim_hones10
almost 15 years ago
Posts: 3413
Member since: Jan 2010

Whatever you do, before you follow Mr. Bond (Scott's) advice test Sr. Sanchez. Ask him if he knows what a triple net lease is. Entiendes?

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Response by vslse65
almost 15 years ago
Posts: 226
Member since: Feb 2011

askwangd - send me an email to vlee at ccrny dot com

I think I can help you, but of course I would like to see the space before going any further. My office is located only 5 minutes from you so it would take very little time.

Full disclosure: I manage my family's portfolio of commercial and residential properties in NYC. I am also a NYS licensed real estate salesperson at City Connections Realty. We are the exclusive commercial leasing agents for 71 W 23rd Street (our offices are located on the 10th floor).

Best,

Vincent L.
City Connections Realty
71 W 23rd Street Suite 1001
New York, NY 10010
REBNY Member - Real Estate Board of New York

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