Prime Chelsea Commercial Space for Lease

124 WEST 25th STREET

Commercial Space For Lease

124 West 25th Street is a newly renovated retail storefront ready for immediate occupancy.  This space offers TREMENDOUS VALUE at $6950/month.  New renovations preserve original details and create expansive glass frontage to maximize street level visibility.

GREAT MANHATTAN LOCATION NEAR NOMAD, CHELSEA, FLATIRON, MIDTOWN SOUTH, SILICON ALLEY, MADISON SQUARE

For more details or a private showing, contact Century 21 Commercial today! 

1729 Lexington Avenue - BRAND NEW PROFESSIONAL / OFFICE SPACE

CHECK OUT THE VIDEO TOUR:  http://youtu.be/Gmf1tcEWA3k

FOR DETAILS:  CALL  REBEKAH (646) 801-6389

We are now Century 21 Metropolitan

Metropolitan Commercial is now Century 21 Metropolitan. 

On January 17th, we joined the Century 21 System.  The System is comprised of approximately 7,100 independently owned and operated franchised broker offices in 75 countries and territories worldwide with nearly 102,000 sales professionals. Century 21 Real Estate LLC is a subsidiary of Realogy Holdings Corp. (NYSE:RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.

Looking to fill a vacant space?  We can introduce the opportunity here in the city, across the USA as well as anyone working with any of the 100,000+ Century 21 agents around the globe.

Wanting to sell an investment property?  We can present your property to investors looking to own a piece of Manhattan real estate, hedge against financial risk, or leverage favorable exchange & interest rates.

Needing to buy outside of Manhattan?  We can connect you with a local Century 21 expert where ever your next hometown may be - across the USA or around the world. 


If you would like to learn more the 21st Century real estate market in New York - or want to what to expect when making a move in the Big Apple, you can always reach me at (rebekah@tmrp.com) and with no obligation to you!

Century 21 Commercial.  Smarter.  Bolder.  Faster.  

Happy Halloween!

Today, I'm getting into the Halloween Spirit.  The Village Halloween Parade is *ON* this evening, and I plan to walk in the parade with my husband (going as the Keebler Elf) and daughter (going as a sassy spirit).  I came to work today in costume.....a picture is after the jump.

Without further ado.....

The Empire State Building is now part of a publicly traded REIT

It's official.  The Empire State Realty Trust debuted on the New York Stock Exchange last week, trading at $13 per share.  The REIT includes a portfolio of 12 properties located throughout the region with 7.7 million square feet of office space.  Litigation delayed the initial public offering (IPO) for more than to resolve objections to bundling the iconic building with rest of the real estate portfolio.  

Your Business Plan & Commercial Lease: Ready for Success

Many successful business owners jump into business and intend to 'figure everything out along the way.' However, whenever a business requires a dedicated space, entering into a commercial lease agreement is not something to be "figured out along the way." The consequences of an unfavorable agreement will stick around for years to come. Therefore, whether prepared in excruciating detail, or scribbled into a succession of notebooks, a business plan is a crucial (and underutilized) tool to focus decision-making, spending priorities, and resource allocation for businesses of any size.

When it comes to leasing a commercial space, a business plan be used to clarify key space requirements, demonstrate seriousness as a prospective tenant, and convince a landlord of a business's likelihood of success.

Promote Integrated Thinking
The process of creating a business plan promotes integrated thinking about the business model, objectives and resources (think: measure twice & cut once). That integrated thinking is also instrumental to clarify key business needs that will drive the unique space requirements for a specific business. Space requirements range from square footage, amenities & features, volume of foot traffic, display options, ceiling height, venting, and much much more.

Demonstrate Seriousness as a Prospective Tenant
In the hyper-competitive real estate market in Manhattan, a business plan can also help to demonstrate seriousness as a tenant during lease negotiations. Why is that important? A tenant that demonstrates the discipline to formalize a plan for their business is more likely to take the obligations of a commercial lease agreement seriously as well.

Convince Landlord of Success
Finally, a business plan can help a landlord to determine whether the business owner is prepared to operate a successful business. What insight can a landlord glean from a business plan? Answers to questions like: do you know your fully loaded costs to acquire a customer? Can you generate enough revenue at this location to cover all operating costs? Does your business rely on a specific neighborhood or building feature to drive revenue? How do you plan to generate revenue and pay expenses during initial month of operations? Are you funded and staffed to undertake necessary renovations and improvements? Do you have a strong team in place to guide you through key decisions?

Resources Around the Web
If you are ready to beef up your business plan, and don't know where to start, below are a few great resources on the web - and connections to organizations that exist to support small businesses in New York City.

• New York City Department of Small Business Services: http://www.nyc.gov/html/sbs/html/home/home.shtml
• New York City Department of Small Business Services: http://www.manhattancc.org
• Workshop in Business Opportunities: http://www.wibo.org
• SCORE: http://scoreny.org
• Entrepreneur Magazine: http://www.entrepreneur.com

One lesson learned early and repeated often: while the wrong location can destroy a fledgling business, no location can save a business from itself - or from the lack of a plan. 

Is it time for you to take another look at your plans and requirements for space?

Checklist for Success: Organization

At it's fundamental, delivering results as a real estate professional hinges upon diligent follow-thru, managing deadlines, and excellent record-keeping.  To wit, I have crafted several purpose built information management tools to help me specifically with these objectives.  Each tool evolved specifically to prompt for and organize the key information relevant to typical real estate scenarios.

Of a good dozen or so tools, each tool generally falls into 1 of 3 basic categories:  Worksheets, Checklists, or Trackers.   Worksheets gather together different pieces of information about a single subject.  Checklists ensure key details are not skipped.  Trackers create a record of activities,  inquiries, or contacts.

Here are a few examples of the worksheets, checklists & trackers:  

(1)  Worksheets
- Client Information Worksheet
- Property Information Sheet
- Property Comparison Worksheet

(2)  Checklists
- Tenant Profile Checklist
- Proposal to Lease Checklist
- Top Ten Checklist

(3)  Trackers
- Tours & Showings Tracker
- Contact & Inquiries Tracker
-Daily Call Log

What are just some of the typical real estate scenarios that I can service more efficiently & effectively with these information management tools?  For example, I can

• Match new availabilities to tenants seeking space
• Present offers to lease professionally and completely
• Compare space alternatives
• Reference inquiries and applicants for a vacant space

Over the coming weeks, I'm planning to examine each one of these tools in a bit further detail....  

Boutique Commercial Space in Chelsea - ready for small business/retail tenant

Commercial Real Estate 156 west 20

Are you looking for the perfect location to start or expand your business? You want to consider this boutique space on West 20th Street. This boutique retail space is being ready for a new tenant in August 2013. Previous tenant retired after many many years. Tremendous visibility Great signage & display options Beautiful interior details This space is ideally situated in a prime location to create a foot hold for your business: Heavy foot traffic Easy access to transit & parking Densely populated & visited neighborhood

CLICK HERE TO EMAIL ME FOR DETAILS.....

GREAT VALUES - BOUTIQUE SPACES WEEK OF JUNE 17 2013

Looking for a Manhattan Commercial Space? A few of the GREAT Boutique Locations I Know...

LOCATION	APPROX. SIZE	NEAREST AVENUE	ASKING RENT	SPACE NOTES
Chelsea
West 20th Street	375 SQ FT	Seventh Ave	$3995/month
Seventh Avenue	375 SQ FT	ON AVENUE	$5900/month
Greenwich Village
Fourth Avenue	675 SQ FT	ON AVENUE	$5500/month
Macdougal Street	600 SQ FT	Sixth Ave	$6750/month
West Village/Meat Packing
Perry Street	850 SQ FT	Washington St	$5500/month	LOWER LEVEL
West 12th Street	850 SQ FT	Greenwich Ave	$4500/month	Key $$
West 13th Street	400 SQ FT	Ninth Ave	$3900/month	LOWER LEVEL
Gramercy Park/Kips Bay
East 25th Street	600 SQ FT	Third Ave	$4250/month
East 27th Street	500 SQ FT	Lexington Ave	$4750/month
East Village
East 10th Street	375 SQ FT	First Ave	$3250/month
Amsterdam Avenue	550 SQ FT	ON AVENUE	$4500/month

Give Due Diligence Its Due

Are you planning to invest in development or income producing real estate?

You've found an appealing property to acquire. Perhaps you've made an offer and are starting to work with a real estate attorney to negotiate the contract. Before a contract is signed or during a contractual due diligence period, a savvy buyer will conduct thorough due diligence to verify the facts presented about the opportunity, calculate the value and identify the risks of the opportunity.

Some typical areas of focus during due diligence...

BOUTIQUE RETAIL SPACE AVAIALBLE IN CHELSEA - JULY 1

156 West 20th Street Street Retail is a perfect boutique space for:

• ACCESSORIES, SPECIALTY or GIFT items
• JUICE BAR, VITAMINS & SUPPLEMENTS
• BARBER/STYLIST or SALON
• TAILOR/DRY CLEANER DROP-OFF, SHOE REPAIR
• WINE SHOP, CHOCOLATIER, BAKE SHOP

SPACE HIGHLIGHTS & TERMS after the jump...

Do The Numbers Make Sense (Part 2)

Are you thinking about purchasing the condo or cooperative unit in which your business operates? Do you believe it would be a sound investment?

Then treat the purchase like an investor by calculate CAP for the property and comparing to similar opportunities.  The CAP rate typical for the market will fluctuate over time, with interest rates, and differ by property class.

Do the Numbers Make Sense?

 Most investors want to know that 'the numbers make sense' for a purchase opportunity.  Ratios like GRM, NOI, or CAP can rapidly identify properties that warrant deeper consideration or investigation.   They describe the potential to earn money now and later from investment made today to acquire a given property.  So what are these indicators?  Let's look at the ratios in more detail...

The High Line - Symbol and Catalyst for Growth

NY1 ran a segment this morning to announce the completion of digging for the Second Avenue Subway project - which has been planned and envisioned since the 1920s!  When the new line opens for strap-hangers in 2016, Second Avenue will become a draw for more retail, eating/drinking establishments, community services and more.  One only needs to look at the High Line to see how public & private investment can re-envision an entire neighborhood. 

A recent New York Times article, Cities See Another Side to Old Tracks, discussed how The High Line has become both a symbol and a catalyst for an explosion of growth in the meatpacking district and the Chelsea neighborhood. 

In fact, in the five years since construction started on the High Line, 29 new projects have been built or are under way in the neighborhood, according to the New York City Department of City Planning. More than 2,500 new residential units, 1,000 hotel rooms and over 500,000 square feet of office and art gallery space have gone up.

Visit High Line Section 3 during OHNY weekend 15/16 October

openhousenewyork Weekend, America's largest architect and design event, opens doors throughout New York City each October. The 9th Annual openhousenewyork Weekend will be held October 15 & 16, 2011.

Among the pages and pages of tours and programs, I discovered one that immediately caught me eye:

The High Line

W 34th St/11th & 12th Aves, Midtown

 

James Corner Field Operations and Diller Scofidio + Renfro, 2009. The High Line, an historic elevated rail viaduct that runs through the Meatpacking District, was renovated and reopened as a public park last year. Take a tour of the still unopened portion of one of NYC’s most talked about open spaces. Subway ‣ A, C, E to 34th St–Penn Station. Bus ‣ M11, M34.

For more information visit: http://www.ohny.org/weekend/

Making Sense of Dollars and Cents

As an investor, you have a unique investment strategy, threshold for risk, and desire for return on your investment. Ratios like GRM, NOI, and Cap Rate can identify properties that warrant deeper investigation as a financial asset. You can address fundamental purchase questions like: 

• Does this opportunity match your investment strategy?
• How much income do you expect to earn each year?
• Should you reduce costs or increase income?   

Now, let's look at a few stats in more detail...

Giving Due Diligence Its Due

Are you ready to buy property and wanting to know if it is good value? Are you ready to sell your property and want to know what to expect? Have you found an appealing property and are ready to make an initial offer? Did you know that conducting a thorough due diligence can help make the market (and time) work for you to put more money in your pocket and avoid countless headaches.

Simply put, due diligence is the opportunity for you to verify the facts presented about a property or a buyer, calculate value, and identify the risks you may face. A recent article in the Real Estate Weekly offered a bit of quick guidance for conducting the due diligence crucial to commercial real estate deals. The article offers some sound suggestions for due diligence on any size of deal - co-op, condo, townhouse, or multi-unit investment property or more.

While your due diligence will be unique, here are four areas to explore during this time:  

→ Building Condition: Identify repairs, improvements, and upgrades that might be necessary in the near future.TIP: Engage a professional inspector to conduct an engineering inspection. 

→ Financial Health: Verify building financial statements, schedule of improvements & budgets.TIP: Obtain prior year tax returns to compare with reported financial figures. 

→ Current leases: Examine lease terms & options, obtain estoppel certificates for any matters not documented in current tenant agreements.TIP: Review correspondence files for insight.

→ Neighborhood Survey: Review zoning laws, inquire to known plans for neighboring properties and check local government records.TIP: Tap into online data sources to search NYC records for liens, violations, tax records and more.

The bottom line: You will understand the value of a property as well as the risks and rewards  if you plan for due diligence.

Today is new headshot day

Happy Monday everyone.  In celebration of the back to school season upon us, I've decided to update my profile picture.  I had this head-shot taken earlier this summer to use on marketing materials.  So, here it is...now my blogger profile picture as well. 

For the rest of the story....I spent this summer with my hair piled on top of my head to beat the heat.  This past weekend it was finally a bit cooler but my hair kept blowing into my eyes, my nose, and my mouth.  So I am now seriously contemplating a shorter sassy cut for the fall.  The bottom line?  New Headshot Day may come again before the end of the year.  Stay tuned.  =)

Astoria Three Family Home Available

Today, I'd like to present a Three Family Home available for purchase in Astoria.  See the full listing on LoopNet (follow the snippet below). The savvy buyer can purchase this property and keep it configured as an income property with three rental units above owners quarters on the ground floor.  Another option is to combine the owners quarters with the first floor rental apartment to create a duplex with access to a deep terraced garden. 

If you've been looking for a property that is both an asset and a home, this could be the opportunity you've been looking for.  Contact me today for more details!  You can email me at  rebekah@tmrp.com. 

If you're looking for other opportunities to own and invest properties in the NYC area - I'd love to talk with you.  Contact me today!

Commercial Real Estate

28th Avenue and 41st Street

StreetViewed!

Remember when "google" became part of our vocabulary?  You know, after meeting someone all the sudden, it was time to go home to google them?

Not long ago, another google word crossed the boundary into my own vocabulary - StreetViewed.  Well, I've always been a big user of Google maps.  I've used the 'my places' feature to visualize sales data - current listings, recent sales, development sites, etc.    I've also used StreetView to explore neighborhoods during a home search - neighborhood features, building facades, and nearby properties.

So, I've known for awhile that the unexpected can be preserved as part of the image for a particular address.  But until recently, I'd never actually seen the image capture in action.

Picture this (no pun intended):  My business partner and I were standing in front of a building for a pre-closing walk thru.   As we chatted, a little green and white car with California plates and a huge apparatus (best word I could come up with here) motored up and idled in front of the building.  It paused long enough for me to get a picture of it - and then it moved on.

My conclusion:  Being 'StreetViewed is the ultimate in candid camera!

Here's the photo I took of the StreetView car.  Now, I'm curious how often do street view images capture people taking a picture of the StreetView car itself? :)