New York City Subleases of the Week - Spring 2014 - Flatiron Edition

Start up and technology companies in New York are always looking for shorter term leases than the standard. Unfortunately most landlords are looking for five year plus lease term, which can be hard for a new, growing company. Five years is a lengthy commitment and most either do not have the funds to make that type of deal work or are rightly concerned they will grow out of the space by then. Also, many of these types of companies are looking for loft type, open space, which is commonly found in the Flatiron District. So without further ado here are a few cool Flatiron office space subleases.

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theSkimm - Manhattan Office Space of the Week

This week we are featuring theSkimm for office space of the week. theSkimm is the daily e-mail newsletter that gives you everything you need to start your day. They do the reading for you - across subject lines and party lines - and break it down with fresh editorial content.

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NYC Office Space of the Week: Food52

Today's Office Space of the Week is NYC based Food52. Food52 helps people become better, smarter, happier cooks. Personally, I am a huge fan of the company and am always finding new things to cook up from their site and newsletter--two great places to check out some serious food porn to boot. After reading about their office in a second, you'll see exactly how their space plays into their needs as a company.

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Manhattan Q3 2013 Office Space Market Statistics

Lee & Associates recently published a report on the market for office space in New York City for the previous quarter. The report is rather interesting, but I really enjoyed their map of New York City with relevant statistics. The graphic shows the inventory, vacancy rate, availability rate, and direct asking rate compared to the ten year averages. What does all this mean to the average small business? I will tell you!

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Microsoft Office in New City - Midtown Office Space of The Week - 52nd and 6th Avenue

The 2013 Entrepreneur Roundtable Accelerator Summer Class launched this month at Microsoft's New York City office in midtown on 52nd and 6th Ave. It took place at Microsoft's office at 1290 Avenue of the Americas, which was very impressive. It had a sleek design and was very welcoming and warm. The look and feel of the midtown office space were about what you would expect from the tech giant, surprise meeting and collaborative areas around every corner-sprawling richly illuminated corridors, and simplistic finishes throughout.

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Manhattan Retail Space Ready to Make Way for Nordstrom Stores

Another high-end department store is set to join the ranks of Saks Fifth Avenue by taking advantage of Manhattan retail space. Nordstrom has searched for a perfect Manhattan retail spacefor two decades and finally settled on a deal with Extell Development this week to open a 7-story, 300,000 square-foot retail monster, on the north side of 57th Street, east of Broadway.

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Salesforce.com seeks Pfizer's former office space

San Francisco-based company Salesforce.com is reportedly negotiating for 100,000 square feet of office space for lease at 685 Third Avenue, which was formerly inhabited by Pfizer. The transaction would more than sextuple the cloud computing company's New York presence, further confirming what this blog has already touched on in multiple occasions - the city's increasing attractiveness to technology firms.

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Normandy Partners invest in Lexington Avenue

Normandy Partners, a New Jersey-based real estate firm, added some more New York City office space to its portfolio, with its purchase at 575 Lexington Avenue, between 51st and 52nd streets in the Plaza District. The 35-stories of Midtown East office space was redeveloped in 1990 by the Koeppel Companies and was bought by Normandy and New York Life for about $360 million, according to sources.

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WeWork gains sixth location with Madison Ave. lease

Two family-owned buildings, across the street from one another, signed on new tenants to take advantage of the Midtown office space for lease, totaling 71,000 square feet. Located just three blocks from Grand Central Terminal, the two buildings, which are both in the midst of renovations set to include a new lobby and elevators, will be ideal locations for each of their respective new businesses.

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Developers announced soon for new Brooklyn hotel complex

Additional Brooklyn retail space to come online as part of a new hotel and residential complex that is slated for construction adjacent to Pier 1, just south of the Brooklyn Bridge. Early this week, the Brooklyn Bridge Park Corporation is expected to vote to select Toll Brothers City Living and Starwood Capital Group as the development team for the 1.3-mile-long New York commercial space.

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Revival of Midtown South office space market continues

After the dot-com bubble burst in the early 2000s, many of the technology startups that had come to call Midtown South home no longer had the ability to remain in the area. As the vacancy rate of Midtown office space climbed, new technology companies sought more favorable locations for their needs. Now, many new startups are again flocking to Midtown South in search of affordable NYC office space for lease.

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Chelsea Market developers eye office space expansion

In a city full of them, Chelsea Market is one of the most widely known destination spots in all of New York City. With the more than 30 shops it has to offer tourists, the area has maintained most of the charm it has held since being constructed around the turn of the 20th century. This may explain why some New Yorkers and tourists alike are upset at a proposal to add two new buildings that would provide Chelsea office space to local businesses.

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Microsoft begins New York office space search two years before lease expires

Any business whose lease is up within the next few years needs to begin its office space search several years in advance, particularly if it is attempting to acquire a location in the highly competitive New York City market. When the largest software company in the world needs to plan for a new location that has at least 200,000 square feet of space, that search becomes all the more challenging.

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