Top Tech Companies Taking Manhattan Office Space in 2019
Tech companies are seemingly everywhere gobbling up major chunks of office space, especially in NYC’s most densely populated borough, Manhattan. Some of the companies making the largest impact are Amazon, Google, Facebook, Adobe, and LinkedIn. Amazon In February, Amazon walked away from plans to build its second corporate headquarters in Long Island City, Queens. The…
Why Landlords Should Consider Continuous Operations Clauses
NYC-based boutique law firm Pardalis & Nohavicka brings the latest legal updates from the world of real estate to PropertyShark. Pardalis & Nohavicka handles an eclectic array of matters, representing individuals and business owners in civil litigation, criminal cases and business transactions, currently litigating and representing clients throughout the United States and around the world. With the holiday season in full…
Top 5 US Cities for Self-Storage Facility Construction Right Now
The self-storage industry has been experiencing declining street rates in recent times, but there remains an enthusiasm for building storage facilities. With investors still seeing the industry as a good and stable option, it is therefore not surprising that in some parts of the country there are many self-storage projects in the pipeline, either in the construction or the planning…
Brooklyn Property Worth Nearly $3 Million Heads to Auction with $234K Lien
A 5,734-square-foot, two-family brick property located in Borough Park, Brooklyn, is scheduled for auction on December 19, 2019, with a lien of $234,061. The auction will take place at 2:30 p.m. at 360 Adams Street in Brooklyn, New York. The property at 1372 56th Street was purchased by the current owners in January 1988. In…
Yardi Matrix Special Report: Coworking Grows Steadily, NYC Leads the Way
In October, Yardi Matrix released its latest special report, “Shared Space: Coworking’s Rapid Growth Set to be Tested.” According to the findings, the coworking segment continued its growth in 2019, despite industry headlines being dominated by the struggles of The We Company. However, this rapid expansion is set to be put to the test in…
The Different Types Of Office Leases
Commercial office space is normally leased for terms of 5, 10, 15 years, and sometimes more. So, it’s important for business owners to understand the terms and conditions—and the potentially hidden costs and restrictions—of the lease before signing on the dotted line, and keep them in mind when looking for space. In this article we…
Top 25 Most Expensive Chicago Area Zip Codes in 2019
Key Takeaways: Kenilworth’s 60043 leads as the only zip with a median greater than $1 million. Chicago’s priciest zip code is The Loop’s 60603 at $570,000. The North Shore is home to six of the 10 most expensive zip codes in the Chicago area. City of Chicago ranks 12 zips among the area’s top 25…
Auction Rescheduled for Two-Family Property in Queens
A 1,536-square-foot, 2.5-story property built in 1930 heads to auction on December 20, 2019, with a lien of less than $550,000. The auction will take place at 10:30 a.m. at 8811 Sutphin Boulevard, Court Room 25 in Queens, New York. The property at 2220 146th Street, Whitestone, Queens, is a single-family house converted to a…
Three NYC Coworking Spaces with 24/7 Access
The growth that coworking space has seen in recent years goes hand-in-hand with the expansion of the gig economy. However, a coworking space needs to have the proper tools in order to provide service around the clock. For example, Yardi Kube — the most powerful coworking management software on the market — offers features such as automated…
San Francisco and Bay Area Office Report Q3 2019: Sales Volumes Set Multi-Year Highs As Lease Rates Rise
Key Takeaways: 18 major office projects were completed in Q3 with 15 more expected by year-end Sales volume sets a 5-year record at nearly $2.7 billion in San Francisco Sales volume in the Bay Area set a multi-year high of more than $2.9 billion Lease rates continue trending upward with trophy vacancies in San Francisco…
5 Best Coworking Spaces in Santa Monica
Apart from its golden, sandy beaches and incredible sunsets, Santa Monica is also an established hub for entrepreneurs and freelancers seeking shared workspaces. Of course, you can spend your workday on the oceanfront, but sometimes you’ll be needing certain amenities that only a coworking space can offer. We put together a list of the top…
Commercial Real Estate Financing Explained
Key takeaways CRE loans tend to be more flex and offer more options than non-commercial loans like shorter terms and a variety of payment options There’s a variety of commercial financing depending on the asset type and the investment strategy Get familiar with financial metrics used by lenders to evaluate commercial properties like LTV and the…
Securing Space in NYC: Security Deposits & Down Payments
NYC-based boutique law firm Pardalis & Nohavicka brings the latest legal updates from the world of real estate to PropertyShark. Pardalis & Nohavicka handles an eclectic array of matters, representing individuals and business owners in civil litigation, criminal cases and business transactions, currently litigating and representing clients throughout the United States and around the world. When looking to rent or purchase…
New York Apartment Construction Drops for the Second Year in a Row
Key Takeaways: New apartment deliveries down 8% Y-O-Y nationally; New NYC apartment deliveries down 33% Y-O-Y; Bushwick home to 8% of new apartment supply in NYC; 2019 marks the second year in a row in which apartment construction declines in New York metro. After 2018 saw the number of projected new apartments fall from…
Cove Property Group’s Hudson Commons Gets $724M Refi from Blackstone
On Monday, Cove Property Group announced the closing of a $724.2 million financing from Blackstone Mortgage Trust for Hudson Commons, its trophy office redevelopment located in Manhattan’s Hudson Yards. An Eastdil Secured team led by Grant Frankel, Phil McKnight and Ethan Pond represented Cove in the deal. “We are thrilled to provide senior mortgage financing…
Two-Family Manhattan Brownstone Up for Auction Again
A 2,816-square-foot, two-family, brick Manhattan building built in 1901 heads to auction on December 11, 2019, for just over $1 million. The auction is set for 2 p.m. at 60 Centre Street, New York City. The property at 310 East 84th Street was purchased by the owner in 1997 for $855,000. The same day, a…
16 Things to Consider When Leasing Office Space
One of the most exciting things about running a business is moving into a new office, and it’s an important milestone that can help your business grow and prosper. However, choosing the wrong office lease can stop your growing business in its tracks, regardless if you’re in Los Angeles or New York City. To avoid…
30 Key Office Leasing Terms You Need to Know
Negotiating a commercial office lease can be complicated; it’s sort of like trying to read a prescription from your doctor. There are abbreviations, jargon, and words that commercial real estate (CRE) professionals use every day, and they assume you know what everything means. To make things even trickier, the exact same term can mean different…
Top 50 Most Expensive Desert States Zip Codes in 2019
Key Takeaways: At $1.76 million, Glenbrook, NV, is the most expensive desert states zip code. Only 3 Nevada and Arizona zip codes feature medians greater than $1 million. Paradise Valley remains home to Arizona’s priciest zip code, up 40% in two years. With 7 each, Phoenix and Scottsdale tie for the highest number of expensive…
Manhattan Office Report Q3 2019: Price per Square Foot Reaches $1,676, Trophy Leases Surge
Key Takeaways Wafra flips the Coca-Cola Office Building and nets $30 million in less than 30 days Class A+ office rents in Manhattan surge 9.5% month-over-month Office sales prices reach a four-year high of $1,676 per square foot 3 million square feet of new office inventory set to hit the market by year-end Most signs…
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