Office Tenant Representation in NYC
Cogent Realty Advisors provides office tenant representation in NYC. Cogent is an independent local firm that finds intelligent real estate solutions for businesses by:
•Relocation to new offices
•Negotiating lease renewals and changes in lease terms
•Marketing surplus space through a sublease or assignment
•Buying and selling commercial space.
Unlike many well-known firms that simultaneously work for both building owners and Tenants (a conflict of interest), Cogent works for Tenants only.
Link to the Wall Street Journal article that follows which examines this conflict of interest and concludes that “Tenants often suffer as a result”. http://online.wsj.com/news/article_email/study-reignites-debate-about-broker-interests-1417399012-lMyQjAxMTE0MjA4MTYwNjE5Wj
Who Needs Office Tenant Representation in NYC?
Many businesses outsource non-core functions like accounting, legal and payroll because they recognize the expertise and the time/money saved by using a third-party professional. Hiring Cogent as your broker is no different. As your office Tenant Representation Broker, Cogent’s mandate is to identify the optimal deal for you by utilizing in depth market information, transaction expertise and negotiation skills.
Cogent is a NO FEE agency. In commercial leases the Landlord pays the fee which is already built into the rent structure. Some Tenant’s mistakenly believe that by representing themselves this fee will be returned to them in the form of discounted rent. The reality is that the fee budgeted for a Tenant’s Broker is either kept by the Landlord or paid to the Owner’s Agent. Additionally, because we are immersed in the local market and have real-time knowledge, Cogent will identify a selection of quality spaces that satisfy your criteria and explore multiple deals simultaneously.
Renewing your lease? When a business negotiates a lease renewal without a Tenant Representation Broker, it signals to a Landlord that you do not plan to move and are unaware of competitive market offerings. By using a Broker the Landlord is put on notice that the Tenant is well informed an considering relocation. Only in this context will the Landlord make its best offer.
OFFICE TENANT REPRESENTATION IN NYC
Review space requirements, budget and relocation calendar
Analyze current market rents, incentives and space availability
Conduct in-depth research and locate qualified properties
Schedule inspection tours with key personnel
Identify target properties
Negotiate the lease.
STRATEGY for retaining Office Tenant Representation in NYC
Thoroughly research all candidates before retaining Office Tenant Representation in NYC. As professional service business Cogent’s success is based on always placing the needs of a client first. We are committed to providing intelligent, honest and creative real estate solutions to NYC businesses. Contact Mitchell Waldman today: (212) 509-4049.