There’s a saying in law: “A lawyer who represents himself has a fool for a client.” There are exceptions, but the underlying truth holds. Some things are better left to professionals, and searching for office space in New York is one of them.
You can do it yourself. But if time, money and your company’s long-term success matter, you shouldn’t, especially when the right partner costs you nothing.
First, the cost
Most people are surprised to learn that a tenant broker costs the tenant nothing. Commercial tenant brokers are paid by the landlord, usually as a commission calculated as a percentage of the total lease value, and that fee is already built into the deal whether you use a broker or not. You aren’t paying extra for an expert on your side. You are only choosing whether to have one.
Tenant broker vs. listing broker
It’s critical to know who is sitting across the table. A listing broker works for the landlord: their job is to fill vacancies and protect ownership’s bottom line. A tenant broker works for you. We learn your business, including team size, culture, growth plans and brand positioning, then identify the spaces that fit your real needs, not just what is listed on a public site.
That is what the industry calls tenant representation: a broker who represents only the tenant, in choosing a property and in negotiating the lease.
Your time is too valuable
Founders and operators are busy raising capital, hiring, scaling operations and running the business. They don’t have time to sift through floor plans, chase availabilities and sit through redundant tours. A tenant broker runs the process end to end. You make the decisions. We do the heavy lifting.
- Define the briefCurrent headcount and projected growth, layout, must-have amenities, budget and location. Settling these before the search starts makes every tour more useful.
- SearchSource the spaces that fit, including upcoming and off-market availabilities.
- Tour and shortlistSchedule the tours and judge each space against the brief, not against the last one you saw.
- Model and proposeRun the financials on the finalists, then put your terms to the strongest options in an LOI.
- Negotiate and signWork through every line of the lease with your interests protected.
- Build out and move inManage construction and the move once the lease is signed.
Off-market access
In New York, not everything is on LoopNet. Many of the best deals, especially those with flexibility, furnished space or early access, never reach the public market. A broker embedded in the market hears about upcoming and off-market availabilities before they are public. That can be the difference between landing the right deal and overpaying for the wrong space. The same local knowledge steers you away from spaces that look good on a floor plan but won’t work for your team. More on this in why some of the best space is never listed.
Negotiating every line item
Landlords have experienced teams of their own. A tenant broker’s job is to level the playing field, and when it’s time to negotiate, that means managing every line of the deal.
What we negotiate
- Base rent and free rent
- Escalations and landlord contributions
- Electric and HVAC
- Cleaning, trash and access rights
- Early occupancy, renewal options and termination clauses
We negotiate like it’s our name on the lease. Because in a way, it is.
Flexibility for growing teams
The question often comes up when a company outgrows coworking, which offers little privacy, few branding opportunities and limited room to customize. A growing company’s needs can also change faster than expected. You may not be ready for a 10-year lease. You may want built-in growth options, or a sublease may be the better move for now.
A good broker helps you make decisions that support growth rather than restrict it: negotiating shorter terms, finding plug-and-play suites or structuring early exit options, depending on your stage. There is also value beyond the rent, from pre-installed furniture and IT infrastructure to an amenity-rich building that helps you recruit and retain people.
More than a transaction
A good tenant broker doesn’t disappear once the lease is signed. The work continues into build-out, the move and facilities support. If your headcount spikes, your landlord drops the ball, or a change in the business means you need to move, your broker should guide you through it, and staying close is what puts you in a strong position at renewal. See what your broker should do after the lease is signed.
How to choose one
Interview more than one broker, and ask each one who they represent, how they are paid and how they would run your search. Our guide to choosing an NYC office broker covers what to evaluate, conflicts of interest and how tenant brokers are paid.