Are you real estate brokers?

Yes, we are. VIZA Group is a full service commercial real estate brokerage that specializes in New York office space and retail space leasing, investment sales, and advisory.

What does “NO FEE” mean?

In leasing “NO FEE” means that tenants don’t pay any commissions to their brokers.

Are all your listings “NO FEE”?

99% of our office space listings for lease are “NO FEE”!

How many listings do you have?

We have all NYC commercial space listings for lease and sale. It’s over 7,000 spaces with combined area in excess of 50M square feet of available space at any given moment.

Which parts of New York are you covering?

Manhattan.

Who do you represent: landlords or tenants?

We represent tenants, and negotiate with their interests in mind.

How do you negotiate a deal?

We negotiate aggressively, knowledgably, and deliver great results. We never leave money on the table and always create real value for our customers.

Do you have a track record of success?

Yes we do. Our brokers have closed over 1,000 transactions for various NYC businesses. Please, refer to the “Our Clients” section.

What is “the Base Rent”?

The Base Rent is the amount of rent that a tenant pays in the first year of a lease. It doesn’t include utilities, escalations, concessions, surcharges, etc. The base rent is normally presented as the price per rentable square foot per year. For example if the Base Rent is $30/RSF/year, it means that the monthly base rent on a 2,000-square-footer is $5,000.

What is “the Loss Factor”?

The loss factor is the difference between the actual (usable) square footage of a space and the rentable square footage of the space. Basically, landlords add proportionate share of common areas (lobby, hallways, bathrooms, elevators) to the actual footage of a space. The loss factor ranges from 10% to 50% and you should keep it in mind when you are making your decision. Our brokers will help you compare apples to apples, not apples to oranges.

How much does it cost to lease an office space in New York City?

The price depends on many variables such as location, building, landlord, space size, lease term, buildout, vacancy rate, your broker’s negotiating skills, et cetera. For example, a top-notch Class A 2,000-square-footer may cost you $6,000 in Downtown, $8,000 by Grand Central, and $10,000 in Plaza District. Our brokers’ deep knowledge of the inventory will help you make the right choice and find ideal space.

What is "the Rent Escalation”?

In leasing “escalation” means rent increase. There are several different types of escalations and in 90% of instances you will see two or three of them in your lease:

     -  Fixed annual escalation toward operation expenses. Usually it is 3% per year.

     -  CPI (Consumer Price Index). It is used sometimes instead of the Fixed escalation

     -  Real Estate Tax escalation. A Real Estate Tax is normally included in a Base Rent; however, it is common for a landlord to pass on the real estate tax increases (over a Base Year) to a tenant. The tenant’s proportionate share of the building and Base Year must be specified in the lease.

     -  Rent Bump. In long leases it is common to see a fixed increase(s) after a certain year(s) on top of Fixed 3% and Real Estate Tax increases. For example, your 10-year lease can stipulate that your Base Rent will jump up by $2-$5 per square foot after year 5.

     -  Porter’s Wage escalation. This escalation is correlated with the cost of servicing the building. It is a rare escalation, but some landlords still use it.

Is it better to lease or buy?

It depends on your situation. For most businesses it makes more sense to lease their spaces, because leasing is fast, flexible, not as expensive as purchasing, and often is the only available option. For established businesses that reached their maturity and are looking to make smart investments, it is advisable to buy their office spaces for many reasons: equity building, owner’s control, appreciation in the long-run, etc.

I have a question that is not answered here, what should I do?

Please, do not hesitate to call us with any questions at 212.235.2000 or e-mail at office@vizagroup.com. Our consultations are free of charge!