The KNOG
GE Grace Relaunches His Eponymous Commercial Real Estate Firm
Contact: David Grant Phone: (646) 699-7832 Email: David@GrantPR.com Industry Veteran George E. Grace Relaunches His Eponymous Commercial Real Estate Brokerage and Consulting Firm ---- G.E. Grace & Company Founder Says Manhattan’s Shifting Trends And...
In the Retail Market? Time to Rent or Buy?
In the Retail Market? Time to Rent or Buy? We are currently representing a buyer who’s in the market for a commercial building, condominium or cooperative. As I’ve been scouring the market, I’ve noticed that sale prices have increased dramatically over the past year....
Avoid Management by Lease
Avoid Management by Lease In an ideal world, commercial tenants would work with both internal and external stakeholders to determine how much space they need before looking at properties. Management would go through a strategic planning process to figure out where the...
A Tale of Two Landlords
A Tale of Two Landlords In the real estate business, it’s no secret in Manhattan that when you get out into the boroughs or suburbs, the quality of the landlords changes quite dramatically. It’s not true of all landlords, but there is a definite mindset that begins to...
Authority vs. Responsibility
Authority vs. Responsibility Throughout my career, I have seen many situations in which doing business is made difficult by a dysfunctional power structure, but there are two that are particularly vexing: 1. A person has all of the authority, but none of the...
A Theme of Renewal & Motion in New York City’s Commercial Real Estate Market
A Theme of Renewal & Motion in New York City’s Commercial Real Estate Market New York City’s commercial real estate market is a very intense environment—it exemplifies capitalism at its best. As one area attempts to solve its problems, another area is concurrently...
Why an Exclusive Broker is the Right Choice
Why an Exclusive Broker Is the Right Choice During the course of a conversation with a tenant, they asked why anyone would want to use an exclusive broker to represent them in finding and negotiating a lease. Of course, any tenant in the market for a space has full...
Landlords Increasingly Looking to Shift Insurance Obligations to Tenants
Landlords Increasingly Looking to Shift Insurance Obligations to Tenants Landlords have recently become more aggressive in trying to shift some of the costs of insurance that they traditionally carried onto their tenants. In a large commercial building, the cost of...
How to Leverage Your Real Estate Broker
How to Leverage Your Real Estate Broker One important reason to hire an exclusive real estate professional "Why hire an exclusive real estate broker to represent you when finding space?" is a question that I find fairly often. Some benefits, like managing the...
Getting Out of the City and Into Paradise
Getting Out of the City and Into Paradise Have you ever taken a moment to appreciate the curves of a quiet country road surrounded by bursts of yellows, reds and a last touch of green? It truly is a pleasure to drive in and out of rock formations, farmland, and...
Retail Vacancies
Retail Vacancies Because there’s a fairly high retail property vacancy rate (just walking down the streets of Manhattan, you see many “for rent” signs on stores), I don’t think rental rates for retail property will rise. I believe the fairly low level of demand for...
The Mercy Center’s 13th Annual Gala Dinner and Auction
The Mercy Center's 13th Annual Gala Dinner and Auction On March 16th, I had the great pleasure of being honored by the Mercy Center of the South Bronx. Mercy Center was founded in 1990 to address urgent problems of the women and children of the area by providing an...
A Bronx Tale: Millions of Untapped Consumers
A Bronx Tale: Millions of Untapped Consumers Recently, I’ve started working with a national company based in the midwest. Their New York office is located in Westchester County, but they have become eager to relocate closer to the city. One of the places they are...
Manhattan vs. Westchester: A Case Study of One Non-Profit’s Dilemma
Manhattan vs. Westchester: A Case Study of One Non-Profit’s Dilemma Recently I was contacted by a non-profit organization whose lease will be expiring soon. The current space: Signed at the nadir of the Great Recession in 2009, the current price paid by the tenant...
There’s No Substitute for Leg Work in Real Estate
There’s No Substitute for Leg Work in Real Estate I was at a networking event recently where we were asked to do an intellectual exercise. The speaker posed the question: If you had a magic wand, what would you change—even if it was disruptive—to make your life...