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So you need to find new office space. You do what all of us do these days. You first ask Google (spoiler alert: you really should just go to 42floors).
You skip over the ads, because those are the guys that are paying to be in front of you.
The guys that rank # 1 after the ads are who Google really thinks you want to talk to.
When you rank # 1 on google for a competitive term like office space New York, that is very credible.
You click through to 42floors.com and find TONS of space options.
For New York City, we found 4,134 listings, all uploaded within the last 90 days.
By the way, the listings on the site are powered by over 40,000 commercial real estate agents uploading their listings (for free...other listing curators charge brokers), and 42floors monitors over 10,000 landlord websites for space listings.
There is also a cool chart on median rental rates, providing you a quick perspective on how many space options there are at different price points - a great way to get a feel for the market.
As you browse the listings, you will notice that you can browse by popularity, date posted, and size.
The default setting is smart - it shows the freshest spaces first.
The stale listings get pushed down and are automatically deleted after 30 days.
When you click each listing you will receive detailed information about each property - enough for you to decide if you want to explore the space further.
You receive multiple, real photos of each suite, and all the static information about the building such as number of floors, year constructed, total building size, other available suites, and even information regarding the internet providers:
They even provide some key market node stats to see what has been the trend for the area.
In this case we can see that the NoMad neighborhood has trended up over time with higher than average rental rates, and smaller than average available spaces.
You can also put your office space requirement on autopilot by triggering an alert.
By simply filling out the form, you will receive email updates that match your requirements. Pretty simple, right?
Each listing also allows you to get right in touch with the listing agent or landlord from as well.
Simply fill in your name, email and phone number and you can book a showing for any space you wish.
At this point you can tour as many properties as you like with the individual listing agents.
What a great, free service.
So far you do not need a broker.
This is where it gets interesting.
Commercial real estate brokers are heavily screened and pay a fee to be a member of the site's preferred brokers.
So now that you have found the perfect space through 42floors, they are also offering to play matchmaker between you and a qualified commercial real estate broker.
You can either work with the listing agent for the space directly without a broker, or select one of the agents to work with exclusively on the site to help you close the deal.
If you select a broker, you will not pay a fee - fees are paid by landlords.
Says Jason Freedman, co-founder of 42floors,
"This is a great system, especially for tenants who do not already have a broker. Our website averages the first or second position for office space searches amongst the top 200 markets in America. Our database is robust and fresh and listing agents are notified immediately for office space tour requests. Brokers get more exposure for their listings and also have an opportunity to represent tenants that want representation after the space has been found. It is a win for everyone."
This process is very frictionless and will perhaps become the way most tenants end up finding office space, instead of answering too many cold calls from brokers, interviewing a few of them and deciding on one.
Then trusting that one broker from cradle to grave on the office space search, then the broker can help you with such things as what type of lease to enter into, operating cost exclusions, and avoiding personal guarantees.
Good luck with your office space search - it may be powered by 42floors.