Should i?

If you like your current apartment and the monthly nut for the apartment and a rented office space would be comparable to the increased costs of the larger apartment, I would say just rent an office. Much greater flexibility re: increase/ decrease in business and, IMHO more of a professional setting.

Also there seem to be many places that offer nice office space with shared services (private office with shared receptionists, etc.)

thank you.

I second ph41's suggestions.

There are all sorts of incentives and deals for office rents for people like yourself (in fact I'm looking at similar options). Believe it or not, even landmark buildings like the Chrysler Building, Empire State Building and Rockefeller Center have sweet deals for shared services. It's more affordable than you might realize.

of course i meant $ 700,000 in equity

We got it.

http://www.youtube.com/watch?v=NRUdaWZ4FN0