What to Know When Renting an Office Space for Lease in NYC

Office Space for Rent

With a land area of 790 square kilometers, New York City is the most prominent American metropolis out there. Also called the Big Apple, it extends through five different boroughs: Manhattan, Staten Island, Queens, Bronx, and Brooklyn. Likewise, it houses some of the best attractions in the USA, such as The Statue of Liberty, Rockefeller Center, Metropolitan Museum of Art, etc.

Given the beauty and vastness of the Big Apple, it also gives birth to a lot of opportunities in the area. Aside from people looking for jobs, people are putting up their businesses here. Therefore, there is a lot of office space for lease in NYC that one can consider. If you’re looking to find one, here are some things you should consider.

What is the Size of the Office Space You Need?

Before you start searching for office space in NYC, think of the size that you require to have. You may determine this by counting the number of employees and equipment that your business needs. Keep in mind that any rental in New York City is defined per square meter.

If you’re unsure of how much space you need, the general rule is about 150 square feet per employee. However, you may change it according to your needs.

What Kind of Office Space Do You Need?

Unknown to others, there are different kinds of office space for lease in NYC. Here are some of the most common ones:

  • Traditional office spaces are for those companies that value their employees’ privacy. At the same time, it gives them specific areas to handle clients, which in turn shows how they want to preserve the confidentiality of their patrons. Usually, it comprises of a reception, boardroom, bullpen, and private offices. Keep in mind that these kinds of offices require a multi-year lease, which usually lasts from three to five years.
  • Creative spaces, on the other hand, are the most common ones of today. They usually come with open offices, no cubicles, with varying styles, colorful decors, and creative layouts. Besides, it encourages collaboration, transparency, and communication between everyone in the team. Typically, creative spaces have wood floors, high ceilings, large windows, wet pantries, and private offices.
  • Co-working spaces are great for freelancers and small companies. It’s the most flexible and most cost-efficient out of the three. Aside from having a specific number of desks in an office space, it can also be an open office with meeting and breakout rooms. The leasing terms vary on a daily, weekly, monthly, or even annual basis. It provides a great avenue to extend your network and keep utility billings low.

What is Your Budget?

Office spaces for lease in New York City do not come cheap. Depending on the area, it can come up to $81 per square foot, which is why it’s deemed as one of the most expensive cities to rent. Determine your budget, how many employees you have, and what type of office space do you need before making your final decision.

What is Your Ideal Location?

Since New York City comprises five boroughs, searching for the most ideal office space to rent is quite tricky. When picking a location, you must consider the following:

  • Employee commute
  • Distance to public transportation
  • Proximity to customers

Aside from gaining income and having a stable office space in NYC, you must also consider the welfare of your employees. The new location of your office must not compromise your earnings, health, and customers.