Who is responsible? →
In commercial leasing, many tenants are married for better or for worse to their landlord for many years. And throughout the years I can guarantee something out of the ordinary will happen. I can also make a guarantee that it will put you at odds with you landlord. Example Access is lost because the road serving the property (call it a shopping center) is temporarily or permanently closed...
Helpful! Brooklyn Neighborhood Map.
Even as a experienced commercial agent I find these neighborhood lines confusing. Am I in Carroll Gardens or Gowanus? Bushwick or Williamsburg? Crown Heights or Prospect Heights? This map will help shed some light!
ATTENTION NYC BUSINESSES: NYC is giving away free...
Let’s face it running a business in the city can be brutal. Businesses have to dodge a minefield of regulations, high rents, taxes, disasters , and most of all a vulnerable economy. There is a small consolation. New York City and the NY State do provide economic incentives which can be especially helpful to Brooklyn businesses.looking for real estate. But finding these incentives was...
The Most Expensive Blocks in Brooklyn -... →
The Most Expensive Blocks in Brooklyn No CommentsBy Catalin on March 21st, 2012 Map of the most expensive blocks in Brooklyn It’s time for our third and final post covering the most expensive blocks in New York City, and this time we analyze Brooklyn. If you haven’t read the first two entries (covering the most expensive blocks in Queens and over NYC as a whole), you can do it here and here. ...
A Discussion on Seller Financing
What do you do if you own a property free and clear that someone wants to buy, but they can only put cash down for 30% of the property’s value? Before the credit crisis, the answer was easy. They buyer puts down 30% and finances the rest. In the absence of traditional sources of financing, the above question is being asked for every deal, and the answer can be a real problem that often kills...
Preparation Guide for Leasing Commercial Property
If you are looking to lease a warehouse, loft space, offices, or retail property, you should be well prepared. Commercial Real Estate inventory in Brooklyn and the other boroughs in NYC is low and it’s competitive. I prepared this guide to assist you on making your big move. [[MORE]] Are you ready to lease? The number one thing a landlord wants to know is “will the tenant pay the...
See Photos of Properties on Instagram! →
As a commercial real estate agent that works in selling and leasing warehouses, loft buildings, and retail spaces- I have the unique opportunity to travel all around Brooklyn every day. I take photos of what I see. Find me on the phone app Instagram or click the above link to see my photos online. My user name is @jondavidbrooks.
Purchasing and Lenders: The differences between...
If you are looking to buy Industrial or Commercial Real Estate it’s important to identify how you are financing purchasing deal. While this seems obvious, often times I see buyers identify their type of financing to me but don’t prepare themselves to show proof of their ability finance a deal. This can erode a seller’s confidence in you as a buyer and reduce your chances of...
Great Article in Sonic Scoop about the Sunset Park...
Sonciscoop did an amazing job talking about the great opportunity in the Sunset Park Music District. Check out the article
The cost of an office buildout →
Made the NYTimes again! Retail For Lease on Court...
I recently completed a commercial retail lease that was featured in the NYTimes, with the franchise Kidville on 380 Court St. in Brooklyn. Along with specializing in selling and leasing of warehouses, commercial lofts, I also am very active in the retail market in Brooklyn.
Recently Featured in Crain's Business Magazine
I was recently featured in Crain’s Magazine for my work in Industry City Bush Terminal in Sunset Park to creating a music district out of upper floor warehouses. Click Here to see the article
Swimming with Sharks, Traits of a Great Real...
In case you missed my previous post, I discussed in detail the traits of a great commercial real estate agent. See Part One. 6. A good real estate agent has no problem saying “I don’t know.” Most people have trouble saying “I don’t know”. In fact the writers of the famous book “Freakanomics” discuss it in depth. It is impossible to know everything...
Swimming with Sharks, Traits of a Great Real...
NYC is the home to the most saviest population when it comes to Real Estate. You will never see a city population more in tuned to their own real estate market. Owners of Commercial Real Estate are notoriously famous for being challenging to deal with To help you navigate through these treacherous waters to lease or purchase commercial real estate, a good broker can be a guide to help you...
Why you need a Tenant Rep →
The process of securing office space for your organization, whether it is a new location or extending a lease in your current building is a complex and time consuming process. This endeavor is filled with numerous opportunities to make a decision that doesn’t best compliment your business objectives. Tackling this process without the benefit of an experienced tenant representative to guide you...
Signing a commercial lease? Hire an Attorney. →
As a Real Estate Agent I would like nothing more then for a deal to move along quickly without friction. With that being said, I would never advise a tenant to simply sign a lease contract without hiring an attorney. REPEAT HIRE AN ATTORNEY before signing a commercial lease. Most likely you will be leasing the space for quite a number of years and signing unfavorable terms can cost you dearly,...
BUY OR LEASE IN BROOKLYN?
For those businesses lucky enough to find themselves in the position to either rent or buy, this article is certainly for you. In this post I’ll be discussing buying or leasing in regards to Industrial (warehouses etc) and Commercial Lofts. [[MORE]] Brooklyn has been undergoing for the last 20 years a huge metamorphosis to the point where you can say “Brooklyn is the best...
What is a good guy clause? →
“As long as I pay the rent, I can leave whenever I want, that’s a Good Guy Clause, right?” That statement is wrong, and it’s a common misperception. A Good Guy Clause is a personal guarantee that protects you when you break the lease. However, typically there are certain conditions that a landlord will want you abide to. Firstly the landlord will probably make you...
I was profiled in the Brownstoner for my work in... →
Broker Envisions a Music District for Industry City It’s been reported that Sunset Park’s Industry City, which has 6 million square feet of warehouse space geared toward creative tenants, has had a hard time finding tenants. (Not surprising, perhaps, give how huge the complex is.) Butbroker Jon Brooks thinks the warehouse space may have potential as a future music district, and he has started...
Coming Soon: New Music District in Sunset Park,... →
The Problem: The lack of spaces in Brooklyn that can service musicians in the city due to high rents, noise complaints, and landlords who don’t want to give long leases. The Solution: I’m working with Industry City to create a music district in the amazing commercial loft spaces in Industry City in Sunset Park. Owners are looking for new music businesses. Owner is willing to do a...
Who pays the commissions in the commercial lease?
If you speak to an agent, that’s an important question that should always be asked. There are no concrete answers. It really depends on the kind of market is in the area that your looking for property . I can only speak for myself when I say 95 percent of the properties I offer, I don’t charge the tenant a fee. I always make it clear before I offer I offer a property where I charge...
How to calculate your rent to revenue ratio? →
This is very important to calculate whether this space your business is occupying is truly makes sense to your bottom line.
I brokered a transaction in Greenpoint with these amazing group of musicians who formed theendnyc.com. Here is a profile of their space.
9 Things You Should Do Before You Lease Office... →
Some great pointers you should consider.
Made the NY TIMES! Completed deal in Williamsburg!
I completed a transaction in Williamsburg Brooklyn, representing the tenant, Bandspaces NYC. This deal pushed Bandspaces NYC to be the largest music rehearsal studio in NYC. From NY Times Click here to go to website
Options! Tenants, grab em while you can!
Options in life are a great thing. Who wants to be pigeon holed? When you are leasing a commercial property, options for a tenant is a good thing. My advise is to always ask for them and push the limits. A tenant’s option I’m referring to in a lease is in reference to the option to extend the amount of years you can remain in the space. For instance you sign a five year deal with a...
Commercial Leases: The Question of Security
If your looking to lease a warehouse, retail location, or office space, you should be prepared to put up security. How much security will you have to pay? Technically, it’s negotiable and there is no required amount. With that being said, typically on a commercial lease in NYC, a landlord will expect at least 2 months security. However there are many circumstances where a landlord...