NYC Sublets 2017-07-13T11:43:48+00:00


If you’re serious about saving, Manhattan office sublets deserve a look.

sublet_imageRecently, we detected a significant increase in available sublets, which are priced considerably below the rental rates for direct space. We expect more space to come on line as financial firms consolidate and look to dispose of space. We have many years of experience in finding and structuring sublet arrangements. Accordingly, if you are thinking about making a move or want to jump start a new venture, you should give strong consideration to sublets. They are usually better economic deals than direct space, both in dollars saved in rent and in capital required for renovations. A sublandlord usually wants to minimize its financial obligation and is not concerned with the market perception of a reduced rent. As a result, sublandlords frequently offer space at a lower rent than they are paying the over landlord.

What’s the catch? While there are some risks involved, they usually can be managed with a well constructed deal that protects the subtenant.

The primary issue is credit risk. Sublandlords are often in a weak financial position. They want to sublet their space because they are downsizing. In the event of the bankruptcy of a sublandlord, a subtenant could lose his security deposit and even, possibly, his lease position if the space is recaptured. Over the years, we’ve developed strategies to help our clients minimize the risks of sublets.

Timing. The documentation on sublets can take time to complete due to the need to obtain the landlord’s consent.Usually landlords have 30 days to review the lease and give consent. While some landlords act very quickly, others are not as helpful. On the positive side, the sublease document itself is far simpler than a direct lease.

In well selected situations, the subtenant is in a strong position because neither the sublandlord nor the landlord wants the space to remain vacant. A potential tenant can use this leverage to negotiate positive terms and win great space at a below-market rent. Subleasing is an important option every tenant should consider.

If a subleasing arrangement appeals to you, give us a call at (212) 759-0408. Or use the Contact page to send us an email.


tags:" broker dealer space nyc,office space lease advisors nyc,office space lease advisors ny,office space lease advisors manhattan,ruth colp,office space lease consultants nyc,wharton property advisors,ruth colp haber,sublet space nyc,sublet space manhattan,wharton properties,office space lease consultants manhattan,tami office space nyc,office sublease ny,office sublet nyc,office sublease nyc,office space for brokers nyc,sublease office space manhattan,office sublease manhattan,sublease space nyc,sublease office space nyc,law firm space nyc,office space for law firms nyc,manhattan sublease,hedge fund space nyc,office space for hedge funds nyc,penn station office space,nyc office space lease,chelsea office space,manhattan office space,manhattan office space lease,office space for non-profits nyc,office space lease manhattan,midtown manhattan office space,soho office space,times square office space,ruth haber,office space nyc midtown,manhattan sublet,office space in midtown manhattan,tribeca office space,office space near times square,office space lease nyc,midtown office space,office space near plaza district,plaza district office space,office space midtown manhattan,flat iron district office space,office space near bryant park,office space manhattan,shared office space nyc midtown,bryant park office space,office space ny,midtown office space for rent,office space lease ny,nyc office space,office space nyc,non profit space nyc,grand central station office space,office space near grand central station,financial district office space"

search terms:" how do i negotiate manhattan office lease,need a manhattan office space broker,how do i negotiate nyc office lease,need to sublease extra nyc office space,need to sublease nyc office,tribeca office space available,manhattan office space for lawyers,looking for midtown nyc office space,find manhattan office space,need midtown nyc office space,penn station office space available,nyc office space for lawyers,can i sublease my extra nyc office space,need an nyc commercial real estate broker,need a manhattan real estate broker,office space in manhattan lawyer building"