A New Method For Renting Extra Offices To Appropriate Professionals
Shared Professional Office Space Advertising In NYC
We feel that as the largest tenant in NYC self-implodes on its own coworking space there will still be a bit of a vacuum in the fractional space market for some time - law firms and businesses with extra offices are competing against a huge backdrop of shared office providers - but the largest one with the most money to spray around has been knocked back a bit.
There is still plenty of competition and our market is still a bit slow - but we see sunlight - and subleases and licenses are being consummated - though not as quickly as we saw several years ago. We still provide a unique venue for sourcing specific professionals to evaluate your available offices...and though it has been a bit slower lately, we're proud of the results we provide.
Some people have asked us if we do better in a slow market because advertisers are paying a monthly fee and a longer run results in more revenue for us. Actually, the answer is no, because when fewer people are looking, fewer people advertise, and though that seems a bit counterintuitive, we have the data to back it up. But people will always think what they want to think - so we're introducing a new model as an additional advertising option - and we'd like to hear from you with your thoughts on the following:
On December 1, for all Manhattan listings addition to monthly paid advertising we are introducing
a lower monthly rate in NYC, coupled with a success fee equal to one-month's rent, when offices
are rented to a party that came to you through our service.
The success fee due will be credited for all monthly payments to date so the total fee paid when
one of our readers rents your offices is capped at a total of one month's rent which is payable
when the new tenant takes occupancy.
For Success Fee based listings the monthly advertising fee is $49. Why do we do this? Because
if there is no recurring monthly fee we will end up with a lot of expired listings on the website.
The recurring fee (again which gets 100% credited against the Success Fee) helps us guarantee
that all of the listings on our site are actually available - and no stale information is being presented.
Here's what the new choice will look like - next to the original method which is still available to
anybody who wants to pay a larger monthly fee with no commission at the end.
The new pricing makes our system easier to assign the project to your broker - or transact on a "self service" basis.
We of course will share the success fee 50/50 with your designated broker - after deducting any monthly payments you have made to date
We want to support the brokerage community and we don't get involved in any way with your commercial office space listings for private prebuilt office space (i.e. 2,950 sq. ft.) that you are tying to sublease for one of your clients. No fee. No Obligation. No Strings. No Kidding.
We don't get involved at all because we want you to take care of your client's needs. Our only source of revenue is the rental of individual offices in shared professional space. We want to take care of the little stuff for you - so you can take care of the big stuff for your clients.
Our business is based on aggregating the demand for the smallest spaces on a multi-market basis. We're a magnet for solo professionals who are looking for space and wish to share office space with a larger firm. We're a resource for brokers who don't want to spend time looking for tenants for space that is too small for them to recognize any reasonable commission with. The reason we can tolerate smaller and shared fees, is because we do this many times in many places. For us, the small and bothersome listings are our reason for existing.
We are dedicated to helping principals and their brokers rent individual offices within a larger space, to appropriate professionals looking for shared office space.
We have a 7-year track record and lots of testimonials to support our validity as a tool to rent to solo practitioners and small firms.
If you're interested in the $49/month plus success fee listing to "do it yourself" or to give it to your broker please call us and we'll set you up. In December you'll be able to add these listings yourself without assistance from us.
If you're a broker and want a FREE LISTING for private space available for sublease, just send your
flyer to: [email protected] - and we'll do the rest for you. If you attach floor plans or any
other collateral material, we'll use it to enhance your listing. Again, all you have to do is reply to a
monthly email confirming that the space is still available for sublease.