Commercial Townhouse

Your Company Headquaters
Purchasing and owning a commercial townhouse or commercial condo has many benefits TODAY...

The most unspoken benefit is your own identity. Your company has the opportunity to own their own office/building ranging from 4,000 SF to 10,000 SF, including larger corporate headquarters of 10,000 to 50,000 SF. A footprint in Manhattan’s prestigious workplace is an identity within itself.

With multiple floors, the opportunities are endless. From office floors to conference areas, to lounge and entertainment floors, everything is within reach. Having an ADA elevator to access any floor makes these townhouses very convenient for all employees as well as clients.

Every townhouse has a lower level/basement with enough space to create your company gym with 24/7 access to employees. Being that it is a townhouse, showers and changing areas are an easy installation.

Having a rooftop above your corporate office serves many purposes. For those long days where employees need some fresh air, or Friday afternoon company meetings, can become enjoyable for everyone on your roof deck. Inviting clients over for a catered lunch on your rooftop then take and an elevator ride down a few floors to discuss the business points of closing that deal.

Now that you’re picturing your company in a corporate headquarters, let us send you all the availabilities. We will also walk you through the entire process with the banks for financing options to ensure you get the best rates and full white glove service from start to finish.

Condo / Co-op / Townhouse

Condominium

An office condominium is a portion of an office building (referred to as a "Unit") that can be purchased, rather than leased, from the owner/developer of the office building (referred to as the "Sponsor"). The owner of the office condominium unit (the "Unit Owner") holds title to the premises and has full control over any and all design elements within the premises. Office condominium units may also be purchased from another Unit Owner. The condominium unit may be as small as a single office suite among many suites on a floor of an office building, or it could consist of an entire floor of an office building, or even several combined floors. Any construction or other improvements made to the premises of the office condominium belong to the Unit Owner.

Cooperative

Purchasers of a Cooperative buy shares in the corporation allocated to a particular floor or unit. Ownership of the shares entitles the purchaser to a long term proprietary lease for the unit. Maintenance charges are based upon the number of shares in the corporation allocated to a unit.

Townhouse

Townhouse ownership is “fee simple” ownership of real property. There is no board approval in the purchase or sale of a townhouse. The sale of the property may be conveyed to any party without prior approval by anyone other than the property. Unlike cooperatives and condominiums, townhouses in New York City do not require monthly payments to a building for expenses. Townhouses are measured and sold using real feet. Meaning there is no “loss factor.” There are expenses each year for real estate taxes, water and sewer charges, utilities and heat, and maintenance and repair. Tax rates are determined annually by the NYC Council according to class of real property.

Benefits Of Owning

• Fixed Costs: Locking in your commercial mortgage long-term can give your business clear, fixed costs.

• Tax Deductions: The associated costs of owning and running a commercial space can provide tax deductions in the form of mortgage interest, property tax deduction and depreciation tax deduction.

• Additional Income: Owning your office can offer the advantage of renting out extra office space, adding another source of income.

• Retirement Savings: The prospect of owning commercial space and having the property appreciate over time, allows the owner to sell at a future date and fund their retirement.

• Accelerated depreciation refers to any one of several methods by which a company, for 'financial accounting' or tax purposes, depreciates a fixed asset in such a way that the amount of depreciation taken each year is higher during the earlier years of an asset’s life.

• Straight-line depreciation is the depreciation of real property in equal amounts over the allowed life of the property for tax purposes. A certain commercial property can be depreciated using a tax life of 39 years.

• Owners of commercial real estate can reduce their tax bill by depreciating the value of their property over a set period of time (the buildings' “useful life,” as defined by the IRS): the IRS depreciates residential rental buildings over 27.5 years and retail and other commercial structures over 39 years.

• Link to BLOG: How Federal Tax Reform Will Impact Commercial Real Estate

Links To Lenders

• Bank of America

• Chase

• Wells Fargo

• Savoy Bank

• Citibank

Small Business Association (SBA) Loan

The SBA works with lenders to provide loans to small businesses. The agency doesn’t lend money directly to small business owners. Instead, it sets guidelines for loans made by its partnering lenders, community development organizations, and micro-lending institutions. The SBA reduces risk for lenders and makes it easier for them to access capital. That makes it easier for small businesses to get loans.

• Link to U.S. Government Website Information

Current Availabilities Office Condos / Coops

633 3rd avenue – 3,800 SF
633 3rd avenue – 19,000 SF
820 2nd avenue – 2,400 SF
125 Maiden Lane – 6,200 SF
22 west 21st street – 5,500 SF
420 5th avenue – 18,000 SF
40 Rector Street – 20,000 SF
345 East 37th street – 2,700 SF
50 West 47th street – 1,800 SF
800 2nd avenue – 19,000 SF
800 2nd avenue – 21,000 SF