A Guide to Leasing Law Firm Space in the Current NYC Real Estate Market (Update)
Created on November 14, 2017
Successfully leasing law firm space involves keeping up with evolving trends in the market, and a deeper understanding of the nuances of legal firms' needs. The rise of modern technology has sparked a change in the real estate market. Law firms want the feel of their space to reflect this trend, and look for offices with a tech feel - natural light with many windows, high ceilings, and open seating areas. For industries more traditional by nature, this is a drastic shift from the space needs of decades past, and the legal industry is no exception.
For legal space, the firm must navigate the straitlaced, traditional nature of the business with the "cool" factor that clients want. As the hub of the legal industry, this is especially important in New York City. This program, taught by Bert Rosenblatt, a Principal at Vicus Partners LLC, and Jonathan Twombly, the President and a Managing Member of Two Bridges Asset Management, LLC, will examine the end-to-end process of navigating this tricky balance for clients, and highlight the emerging trends that shape the process along the way.
- Discuss recent changes in the NYC commercial real estate market, including common pitfalls for tenants
- Review location and zoning issues
- Negotiate the Lease: Important Considerations
- Assess the implications of the "Good Guy" Guaranty
- Survey the requirements for green and LEED certified buildings
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