“Taking punches at the bully for my clients.”

Tom, his predictions, perspectives and expertise.

Studley Q2 Market Report

Studley Fights for the Tenant; Competitors for the Landlord

In an article in the NYT; CB Richard Ellis states “We also tailor our research to landlords’ needs, so it is very customizable.”  At Studley we believe this is backward.  It is you the tenant who is important.  We fight for your rights against the landlords.  See the article below to understand the how our competitors are not looking out for your best interest.

– Tom

Class-Consciousness in the Office Building Market

By JULIE SATOW – New York Times, July 26, 2011

There are roughly 400 million square feet of commercial real estate in Manhattan, an amount equal to more than 9,000 acres. For the last three decades, as the office market grew and matured, brokers and tenants began slicing that space into classes that signaled a building’s amenities and location and, of course, the rent that its landlord could charge.

Traditionally, four classifications are used for office buildings: trophy properties, which are mostly new construction that offer tenants the latest technologies, best locations and most exclusive tenancies; Class A, where the vintage may be somewhat older but the location or landmark architecture demands above-average rents; and Class B, mostly on Midtown side streets or peripheral locations, with average rents, services and building systems. Rounding it out are Class C properties, which are often simply Class B buildings that lack services. Often, Class C buildings will be upgraded to achieve higher rents and make better use of valuable real estate or be converted into residential units.