Pros and Cons of Traditional Office Space in NYC
There are many different kinds of office space available, when people begin their search for office space, NYC traditional office buildings are what many people think of first. Traditional office space can include pre-built office space or custom office space. Let’s look at some of the pros and cons of the traditional office space in NYC:
Perfect space for your company – A traditional office is pretty much a blank slate that you can customize to your needs and preferences.
Wide range of spaces – Get exactly how much space you need, from 1000sq feet to an entire floor.
High Visibility – Your own custom office space in NYC with branding throughout the space can be a great asset. You can create a place where you’re proud to bring customers, clients, and associates.
Long-term Commitment – If you aren’t looking for a long-term commitment, a traditional office space in NYC probably isn’t a good fit for your business. The average lease for a pre-built space is 3-5 years and 5-10 years for a custom office space.
Cost – Because you are not sharing the costs with any other businesses, the cost of a traditional office space in NYC is out of reach for many businesses. Due to the long-term nature of traditional office leases, commercial property owners have high standards of financial stability. They want assurance that the companies will be able to pay for the duration of their lease.
Setup Time – Negotiating the terms of your lease, customizing the space to your specifications, and the process of actually moving offices can eat up a lot of time.
Many people think that traditional office space is the only option when it comes to office space. Today there are more alternatives than ever to a traditional office. There are shared office spaces, coworking centers, and virtual offices, just to name a few. If your search has been limited to traditional office space in NYC, you may want to consider whether an alternative office space might be a better option.