Scope of Services

As an independently-owned, New York City-based and tenant-focused commercial real estate firm, we do not represent landlords. This is a key element which sets us apart from our competitors. We are involved with every aspect of your deal from finding the appropriate space, negotiating the lease or sale, working with the architect, engineers, and attorneys to make sure that your move-in is seamless.

Our experience shows that one’s representation is only as strong as the specific individual or team who is handling the transaction. In any dealings with our firm, you will have 24-hour/7-day access to us.

First New York consultants and support staff are well integrated in order to form a team qualified to negotiate every aspect of your transaction. We know that your bottom line goes far beyond base rent, and we negotiate every aspect of every lease or sale as if it were our own. Our experience has shown, and our satisfied customers have told us, that we have often helped them to realize significant savings beyond what they would have imagined.

While we do our best to act decisively and authoritatively in negotiations on your behalf, we are ever mindful that our involvement with you is always in an advisory capacity. We are your ultimate “power tool” in defining, creating and negotiating the ideal physical environment for your operation. Thinking out of the box, examining all options in a creative manner, will ensure that no stone remains unturned in order to provide you with the absolute best deal.

1: Preliminary Orientation
We begin with a thorough review of your existing lease document. We meticulously review all escalations including current rent bills, to verify actual charges. We specifically look for clauses that would adversely affect your company, with great emphasis on issues such as land leases, restoration clauses, overage charges, sublease clauses, and any subtle attempts by the landlord to add to the vulnerability of the tenant.

2: Planning Stage
In order to get the most accurate assessment of your space needs, we engage in a thorough analysis of all of your space needs. Included in that analysis are number of private offices, corner offices, conference rooms, board rooms, ratio of support staff to partners and associates, hospitality needs, storage, IT/telecom room, kitchen/lunch facilities, restrooms, physical fitness, reception and any other specific requirements that you may have. Once that analysis is complete, we’ll work with your architectural planners or ours as required to estimate the usable space requirement.

3: Space Survey
We personally supervise and prepare a comprehensive and current survey of all appropriate space availabilities. Our space research is reliable, professional and detailed. We will gather together all the facts, photographs, brochures, floor plans, building locations and features for you to determine suitability for your operations.

4: Space Inspections
We don’t just rely on database research. We will personally inspect 5-10 or more spaces for every one that we present to you. Every appropriate building and space we submit to you will already have been previewed by us with an eye toward confirming our research and ensuring the overall suitability for your use. We’ll arrange space inspections for your team at your convenience.

5: Financial Analysis
Based on initial discussions with you to determine the ballpark of acceptable terms, carefully prepared cost projections are produced for each of the buildings that you select from the space surveys and subsequent space inspections. Each analysis includes base rent per foot, loss factor, electrical costs, tax and operating escalations, government program incentives, free rent and/or construction allowances, buildout costs, lease buyouts (if any), cleaning expenses (if any), overtime service cost, net present value calculations, annuity calculations, and any special considerations for a particular building of interest. Detailed comparative analysis of the alternatives will also be provided.

Often of special importance is the analysis of lease renewal. This is frequently the easiest, most sensible and most cost-effective solution. But don’t presume that you can easily do this on your own. There are still compelling reasons why you may want to work with us as your broker in a renewal transaction.

6: Negotiation of Offer Terms
From our analyses and your evaluations, the top contenders are selected. We’ll start the next process by preparing and submitting our comprehensive offers on your behalf to the ownership of the building or buildings of interest, to which ownership will respond with their counter-proposal. The responses are progressively analyzed and further negotiated to your advantage, and in accordance with your needs. The number one choice is then determined and another round of detailed clarification of terms is done.

7: Review of Lease or Sale Contract
After the essential business terms are agreed to in writing, the lease document or sale contract is prepared. We diligently work with you, your legal counsel and architect/space planner to protect your business with the most advantageous financial terms, to eliminate or restructure any clauses which may bring benefit to the owner or seller at the possible expense or risk of the tenant or buyer, etc.

8: Continuing Market Research
Until a lease is signed, we never stop searching for the next best deal. It can sometimes happen that a more desirable space will become available in the midst of finalizing a deal. Additionally, even with the best groundwork and the most progress in negotiations, an executed lease or successful closing can sometimes fail to materialize. We never stop our research. We continue to provide you with updates on the status of the marketplace, and we will bring to your attention any new availabilities or market conditions that may cause us to consider changing course.

9: Lease Execution or Closing of Sale
When all terms are fully agreed to by all parties, we move to execution or closing. We will work to dispose of any expansion or interim premises you may have taken and to assist with the planning of the move, if requested. When the entire transaction has been completed, we will provide you with final financial projections which set forth your actual occupancy costs based upon the final terms as negotiated and executed.

10: Construction / Build-Out Support
We act as needed to smooth the way for your space planner to work with the landlord’s contractor or your own, depending on the specific arrangements. We will regularly visit the premises during build-out and render whatever assistance is required in this area.

11: Continuing Relationship
Whatever the task, your brokers at First New York Realty Brokers LLC will be there to consult and advise on any issues or questions that arise for the duration of your new lease. Our past relationships can provide you with insight as to how be operate. We welcome you to contact anyone on our list of references to find out for yourselves.