Article provided by: officespacesny.com
It’s Easy to Find NYC Subleases with Spaces Commercial Real Estate
As you likely know, there are distinct benefits and advantages when you find NYC subleases as opposed to traditional leasing agreements. The main reason people find NYC subleases is because they save significant money compared to when choosing to enter into conventional leasing contracts. Sublease spaces trade well below direct market rates. Second, you have much more flexibility when you sublease. Subleasing allows you to rent for shorter periods than typical terms and subleasing allows you to inherit finishes that would only be feasible with a long-term lease.
Another distinct advantage of subleasing is that you get plug and play delivery. Furniture and communications equipment are usually included in subleased spaces. You also will likely have access to other useful building amenities that may not have been in an ideal space when you find NYC subleases. Additionally, subleasing gives you stronger negotiating leverage with your landlord. Indeed, there are a number of ways that subleasing can be advantageous. However, if you want to find NYC subleases, be aware that subleasing in the city isn’t for everyone.
Is Subleasing Right for You?
At Spaces Commercial Real Estate, we believe in operating with transparency and integrity. Our reputation speaks for itself in this regard. We want our clients to know that subleasing, while having many advantages, isn’t for everyone. You should educate yourself on both the pros and cons of finding subleases in NYC. Let’s consider some of the reasons why subleasing may not be for you.
The Downside of Subleasing
First, think of each sublease space as a size-10 shoe in the color black. When subleasing, there’s a “one-size-fits-all” element involved. If the sublease fits, it’s excellent for you. However, if the sublease doesn’t fit your needs, it may not be easy for you to modify it according to your specific requirements. Getting approval from your landlord for construction and getting your landlord to give you money to customize your office space might be impossible. Why?
Your landlord may be hurting for money already and may not be eager to provide a generous allowance or wait for you to construct. Your landlord may not be thrilled by your more intensive use of your subleased space, and he/she doesn’t have to spend a dime to earn the remaining rent due. Also, your landlord may not be willing to front you the cash you need now in anticipation of a return some years in the future.
Many corporate real estate attorneys like to spend months haggling over the terms of your lease documents. Except for in rare instances, you’d do best to accept the terms we negotiate with your landlord. We will get you the best deals available, and we’ll find NYC subleases that match your needs and preferences.
With subleases, keep in mind that options to renew or expand often aren’t transferable. If your term is too short, the landlord likely has little incentive to extend you now, at today’s rates, when they anticipate the market might be better for them at lease expiration. Spaces Commercial Real Estate will help you find NYC subleases that are ideal for you. Contact us today. We’re here to help and find a solution that works.