Leasing Info

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Step 1: When you contact Red, you will receive a detailed client consultation that will allow you to express your NYC commercial leasing needs and your individual space specifications.We will learn your tastes, priorities, move schedule, desired price range and overall company direction as it relates to your acquisition of new space. Your RED Real Estate agent reviews this information before your tour so that your valuable time is invested only in viewing space that matches your style and makes sense for your company.Step 2: Armed with a clear understanding of your needs, your RED Real Estate agent will do a geographically specific and exhaustive search for any currently available Manhattan real estate spaces that would be desirable to you, carefully screening each one in accordance with your demands.Step 3: Your NYC commercial space/office viewing itinerary will be arranged to suit your schedule and will be confirmed in advance. Once you identify a match, your RED Real Estate agent will help you plan your customized build out of the space including any needed flooring, wall construction, lighting, electric work and/or painting.

Step 4: Your RED Real Estate agent will then prepare a formal proposal to the landlord on your behalf which will provide information about your company and your requested lease length, offering price and other specified terms for the office space. Your RED Real Estate agent will also inform you of any additional NYC building charges before they submit your proposal.

Step 5: Many companies feel most comfortable communicating their requirements to the landlord through a licensed Manhattan broker. Red’s Real Estate brokers are trained in negotiation and are well qualified to assist you in coming to an agreement on terms.

Step 6: Your RED Real Estate agent will manage any information related to the status of your space, any counter proposals or other correspondence from the landlord and the scheduling of any additional inspections prior to finalizing the paperwork.

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Important terms you will need to be familiar with as you begin the office leasing process.

loss factor: the percentage of difference between the actual square footage and an office and the listed size. Your RED Real Estate agent can advise you of how many square feet you will need based on your company specifications and the current loss factor range for Manhattan.

construction/build-out: Many office spaces can be custom built to the layout needs of the tenant. Your RED Real Estate agent will review with you the building specific details regarding space alterations and custom build-outs.

security deposit: the amount of required security will vary based on the NYC landlord’s assessment of the strength of the prospective tenant. Contact a Red Real Estate agent for a security deposit estimate for your company.

insurance: Office insurance is an important expense to plan for. Your agent can provide you with information of the insurance requirements of your selected address.

Please contact your RED Real Estate agent for more information.

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