FAQs

A: We provide comprehensive commercial real estate solutions, including property buying, selling, leasing, investment advisory, and market analysis. Our team assists businesses and investors in finding the right commercial properties to meet their needs.

A: We specialize in office spaces, retail properties, industrial warehouses, multi-family buildings, and mixed-use developments.

A: You can get started by contacting us via our website, phone, or email. Our team will schedule a consultation to understand your needs and guide you through the next steps.

A: We provide expert market insights, property searches, due diligence, and negotiation support to ensure you find the right investment at the best price.

A: Gross includes most operating costs in rent; net passes some or all expenses (taxes, insurance, CAM) to the tenant.

A: Tenant pays base rent plus property taxes, insurance, and maintenance/CAM.

A: A hybrid: landlord covers some building costs; others are shared or passed through.

A: The first lease year’s operating expenses/taxes used as a benchmark for future pass-throughs.

A: Fixed percentage increases, CPI-based bumps, or operating-expense/tax pass-throughs.

A: Usable = space inside your suite; rentable = usable + pro-rata share of common areas via a load factor.

A: A multiplier applied to usable SF to account for shared areas—varies by building.

A: Landlord’s contribution (per SF or lump sum) to help build out the space.

A: Lease exhibit defining scope, standards, responsibility, timing, and costs for build-out.

A: Concession where base rent is waived for agreed months, often at lease start.

A: Options giving a tenant an early chance to lease adjacent or upcoming space.

A: Base rent plus a percentage of gross sales above a breakpoint.

A: A tenant right to stop operations while still paying rent—often limited or negotiated.

A: Commonly 2–6 months’ rent (more for new or high-risk tenants) or an LC of similar amount.

A: 3–10 years for small/midsize; longer for large or build-to-suit deals.

A: A tenant rents all/part of its space to another user with landlord consent per lease.

A: Staying past lease end; rent usually increases (e.g., 150–200%) and liabilities can apply.

A: Allows rent reduction/termination if key anchors or a certain occupancy level isn’t maintained.

A: Common area maintenance, management fees, utilities in common areas, repairs, and sometimes reserves.

A: Varies: central systems are often included/allocated; dedicated package units are usually tenant’s electricity and maintenance.

A: NYC has Midtown, Midtown South, Downtown; SF has North Financial, South Financial/SOMA, Mission Bay, etc., each with distinct inventory and rents.

A: Roughly 150–275 usable SF per office employee (varies with layout, hybrid policies, and collaboration areas).

A: Location, building class/amenities, floor height/views, creditworthiness, term length, and TI needs.

A: A = top tier location/amenities; B = good quality; C = older, fewer amenities.

A: Air quality, terraces, fitness, bike storage, conferencing, food options, and flexible layouts.

A: Reduces some footprints; increases emphasis on high-quality, experiential space.

A: Floor loads, ceiling heights, ventilation, wet lab capability, utility capacity, and zoning.

A: Foot traffic, co-tenancy mix, visibility, signage, loading, and parking/transit.

A: Normalize to effective rent (include concessions, load factor, escalations, pass-throughs, and build-out).

A: Yes, for swing space, project teams, or uncertain headcount—often at a premium.

A: The NYC Zoning Resolution (City Planning) governs use, FAR, bulk, and use groups.

A: NYC’s Uniform Land Use Review Procedure for significant land-use actions (map/text changes, large developments).

A: The NYC Department of Buildings (DOB); FDNY issues separate fire permits.

A: DOB document certifying lawful occupancy and use; temporary COs (TCOs) can allow interim use.

A: Yes, for spaces with 75+ people (TBD by use); issued by DOB/FDNY.

A: Imposes GHG emission caps for larger buildings, with phased compliance beginning 2024–2030 and beyond.

A: Energy use reporting for most buildings ≥25,000 SF on an annual schedule.

A: Yes—Landmarks Preservation Commission (LPC) must approve exterior changes to landmarked buildings/districts.

A: Subject to zoning, DOT/DOB permits, and sometimes LPC approval.

A: DOB/FDNY issue violations; owners must correct and certify. Open violations can delay closings/permits.

A: San Francisco Planning Department (Planning Code) and permitting via Department of Building Inspection (DBI).

A: California Environmental Quality Act requires environmental review; scope depends on project size and impacts.

A: SF’s annual cap on new office development square footage; allocation affects timing/approvals.

A: Yes; CA Title 24 and often a CASp inspection for ADA/California access compliance.

A: Yes—DBI final approvals/CO are required before lawful occupancy for new/changed uses.

A: Yes—formula retail controls, use restrictions, and design guidelines in many districts.

A: Absolutely—earthquake design, bracing, and non-structural anchorage are critical; check current code.

A: Requires benchmarking and periodic energy audits/tune-ups for many commercial buildings.

A: Yes—Planning and DBI approvals; some districts have stricter design/signage rules.

A: Major projects can face extended reviews (planning, CEQA, neighborhood input); schedules should include contingencies.

A: NY: attorney-driven closings. SF/CA: escrow/title-company closings with grant deed and title/escrow settlement.

A: Policy protecting against defects in title/lien priority; lenders require it, buyers often get an owner’s policy.

A: Yes—federal tax-deferred exchange rules apply in both states (strict timelines and Qualified Intermediary required).

A: Subordination, Non-Disturbance, and Attornment agreement aligning tenant rights with lender priorities.

A: Tenant’s certificate confirming lease terms and status—often required for sales/financings.

A: 30–120 days depending on asset type, entitlements, financing, and environmental reviews.

A: Purchase and Sale Agreement—defines price, deposits, contingencies, timelines, and representations.

A: Ground lease = lease of land long-term (often 49–99 years) with tenant improvements; fee sale = land and building.

A: Restricts landlord from leasing to direct competitors within the center/project.

A: Buyer accepts condition subject to due diligence; sellers limit reps/warranties.

A: NYC Real Property Transfer Tax + NY State transfer tax are due at sale; rates vary by price/category.

A: City/County transfer tax applies with progressive rates by price tier; paid at closing per custom.

A: A tax on recorded mortgages; often higher for commercial, and borrowers may use mezz debt to manage costs.

A: No state mortgage recording tax, but documentary transfer tax applies at sale.

A: NYC: Department of Finance assesses annually by class and estimated market value. SF: Assessor-Recorder assesses and revalues at sale/new construction per Prop 13 rules.

A: Tenant pays increases in real estate taxes above a base year or pro-rata share.

A: NYC: Business taxes vary by entity; not a blanket CRE rent tax. SF: Gross Receipts Tax (plus special taxes like Homelessness GRT for large firms) may apply to businesses.

A: Varies by lease: direct-metered to tenant, sub-metered, or included with allocations.

A: SF has had targeted measures affecting certain commercial categories; verify current applicability with a CPA.

A: Occasional programs (e.g., façade, energy, job credits) exist but change; confirm with city economic-development offices.

A: Life-co, bank, debt fund bridge loans, CMBS; construction loans for development.

A: Focus on DSCR, LTV, stabilized NOI, tenant credit, lease term/roll, and market vacancy.

A: Debt Service Coverage Ratio—NOI divided by annual debt service (typical minimums ~1.20–1.35x or higher).

A: Loan-to-Value—loan amount divided by property value (often 55–70% for stabilized assets).

A: NOI divided by purchase price—an indicator of yield and market risk.

A: Through reserves, additional capital, or as part of project budgets; sometimes covered by lender holdbacks.

A: Recourse includes personal guarantees; non-recourse limits liability except for “bad-boy” carve-outs.

A: Hedging tools for floating-rate debt; often required by lenders.

A: Yes, programs reward certified sustainability/energy performance with better terms.

A: Lenders require MAI appraisals, Phase I ESAs (and Phase II if needed), plus property condition assessments.

A: Licensed contractors/expediters working with architects/engineers; owner and tenant coordinate.

A: Small interiors: a few months; major or complex use changes can take 6–18+ months including permitting.

A: Switching to a different occupancy classification—often triggers code and accessibility upgrades.

A: GL, property, worker’s comp; tenants provide COIs naming landlord as additional insured; limits per lease.

A: House rules: hours, deliveries, signage, alterations, waste, and tenant conduct.

A: Per-hour or per-ton rates if running central plant outside normal building hours.

A: Landlord contracts maintenance; downtime windows and service credits may be negotiated.

A: Union contracts in some NYC/SF buildings may require union labor at defined rates/hours.

A: NYC: commercial waste zones and hauler rules; SF: strict zero-waste/recycling/composting compliance via Recology.

A: Fire alarms, sprinklers, egress lighting/signage per code; FD approvals where applicable.

A: Yes—NYC Local Laws (84/133) and SF EBEO require energy benchmarking/audits for many buildings.

A: System tuning to meet design/efficiency targets; often required by code or local law.

A: LEED, ENERGY STAR, Fitwel, and WELL can aid leasing, retention, and financing.

A: Common for owners and sometimes tenants due to seismic risk; premiums can be material.

A: Check FEMA maps and local guidance; affects insurance and build-out choices in both cities.

A: Yes—CEQA in SF and SEQRA/CEQR in NYC can extend timelines depending on scope.

A: NYC uses BBL (Borough-Block-Lot); SF uses APN (Assessor’s Parcel Number).

A: NYC DOB/FDNY online systems; SF DBI/Planning portals provide permit/inspection histories.

A: Usually yes for code, life-safety, and permit drawings; required for most alterations.

A: Strongly recommended—local expertise in leasing, law, and permitting saves time, risk, and cost.