Renting and Designing a NY Showroom

Renting and Designing a NY Showroom

Renting and Designing a NY Showroom requires careful planning. An overriding concern for most firms is the cost of the annual rent and the improvements required preparing a showroom. In NY, rents and construction costs are increasing because of a reduced supply of both space and skilled contractors. Listed below are important tips for renting and designing a NY showroom.

 

LOCATION: An accessible location attracts more buyers. If your industry is concentrated in a specific building or geographic area, opening there will ensure a larger volume of prospects, especially during a market week. Examples follow:

295 Fifth Avenue– “The Textile Building“. Although fully leased (as of 3/15) vacant space in close proximity is priced from $45 PSF.

10 West 33rd Street– “The Fashion Accessories Center”. Spaces from 1,500- 20,000 RSF. Asking rents are from $44 PSF.

200 Lexington Avenue–  The “New York Design Center” for furniture and interior decorating. Fully leased.

50 West 47th Street-  The “International Gem Tower” offers commercial condominiums for sale from  $1,200 PSF, and rentals from $70 PSF. 

150 East 58th Street- The “Architects & Designers Building”. Limited availability of offices priced from $65 PSF.

 

The “Fashion District“–  Loosely defined by Sixth to 9th Avenue and 34th to 42nd Street. This sub-market includes hundreds of buildings where NY showrooms are found. At year’s end 2014, asking rents ranged from $41.77 to $61.01 PSF.  Effective rents after negotiation and credits for rent abatement are less. 

 

 

 

 

 

 

 

BUILDING ENVIRONMENT: Easily found streets and buildings with readable addresses are a strong plus. First impressions are lasting impressions- lobbies should be easy to enter, clean, safe and where possible staffed by a doorman. A knowledgeable Tenant Representation Broker  will discuss the history and reputation of a building and its owner.  

 

DESIGN: Design a showroom to transport your customer to a place that is relevant to the merchandise for sale. Clean and uncluttered open spaces offer maximum flexibility. Using fixtures and furniture systems to divide areas with different themes or focus is preferable to “hard walls”. Showrooms should be versatile so that they can present different product lines, seasons and trends. The corporate name and logo should appear at the entrance to the premises. A showroom should be staffed by a knowledgeable salesperson that can educate and close a customer.    

 

Strategy for Renting and Designing a NY Showroom

Cogent Realty Advisors, Inc. is an independent licensed real estate broker that represents New York City business owners that lease commercial space. We will find you the right space at the right price. Cogent also has a network of professionals that can assist you with the relocation process including legal services, insurance, accounting, design, construction, furniture and moving.