35ft BrdwyBeavrExchange Classy Office Space

(My Original Blog Post: http://www.lodging-manhattan.com/2009/08/08/35ft-brdwybeavrexchange-classy-office-space/)
CitySites Commercial Group
Prime Broadway Avenue Office space available at $35/ft
18,000sf at $52k/month
More Information call:
Gui Tepedino (212)823-0612 or Clell Tickle (212)823-0820
 
By presenting the information set forth herein, CitySites Commercial Group, LLC makes no representation or warranty of any kind, including without limitation, the condition or manner of construction of the property offered, conditions considered latent or patent, compliance with local law, and environmental conditions. CitySites Commercial Group, LLC . does not warrant the accuracy of the information set forth herein, and the same is submitted subject5 years worth of data on all condo sales in Manhattan, New York including prices, floor plans and building photos. First, it's usually not built, and if it is, somebody has probably been using it. If the walls are configured to your liking, you may be able to paint and recarpet it (about $7 per square foot) and move in. Otherwise you're going to have to do construction. Plan on this costing $50 per square foot. So if it's a 3000 square foot office, expect to spend $150,000 on the construction. I know, this sounds like a lot. While you are looking for offices, brokers will tell you that you can construct an office for less than $50 a square foot. They are lying to make the deal. Do not fall for it. The only way to pay less is if a lot of the work is already done (on our office, the demolition, ceiling, sprinklers, air conditioner, bathrooms, and finished floors were all done, so we're hoping to spend $25/ft on construction.) No Fee No Key Money Free Buildout. This is because normal landlords hate venture capital funded companies. The few landlords in New York that rented to VC startups during the dotcom boom have learned never to do that again. Here's why: venture funded companies only have enough cash to last a few months or at most a year, after which they have to raise another round. If they don't raise the round, they close. Probably 80% of these companies close within a year. The way most leases are written, a landlord literally loses money if the tenant leaves after a year. If you're venture funded, and your VC won't sign a five year lease for you, you may be stuck paying the Rich Tax, paying $200 per foot (per year) to be in executive suites when the market rent is $20 - $30. First, it's usually not built, and if it is, somebody has probably been using it. If the walls are configured to your liking, you may be able to paint and recarpet it (about $7 per square foot) and move in. Otherwise you're going to have to do construction. Plan on this costing $50 per square foot. So if it's a 3000 square foot office, expect to spend $150,000 on the construction. I know, this sounds like a lot. While you are looking for offices, brokers will tell you that you can construct an office for less than $50 a square foot. They are lying to make the deal. Do not fall for it. The only way to pay less is if a lot of the work is already done (on our office, the demolition, ceiling, sprinklers, air conditioner, bathrooms, and finished floors were all done, so we're hoping to spend $25/ft on construction.)