6D October 16 - 29, 2012 New York City Experts Visit the paper online nyrej.com Attorney In this market, no owner or leasing agent can afford to be arrogant or insulting to a tenant “business.” His only offer was space me as a tenant so it’s a net loss to decision easy. Albeit I made it in a professionally and not, among other Howard Stern, Esq. at our sister building in the complex. them. Not to mention the concessions fetal position. My new office over- things, redefined common industry He sent me the diagram. I pointed they will have to give, and the work looks White Plains. The wiring is terms, I probably would have stayed. out his measurements were incorrect. Owners know tenants get paralyzed He had redefined the term net usable So which kind of owner are you? Which over the thought of moving (see fetal Law Offices space. His incorrect definition added position above). My hand was forced 90 s/f. Given the loss factor, the high kind of rental agent are you? In this market and it turned out it was for the better of Howard rent and the many pass alongs, by for my office. I should thank him. I Stern my calculation that 90 s/f was the no owner or leasing agent can afford to be will email him a copy of this article. equivalent of more than four months Probably his boss too. rental over five years. I sent him a arrogant or insulting to a tenant. No owner The REIT has an empty suite. It Nothing like an article based on hyperlink to an industry website has lost a long-time tenant and will firsthand knowledge. Next week defining usable space. His response can afford any space remanding vacant or lose others as my old neighbors begins month three at my new office. was “radio silence.” How insulting. wait for their leases to expire. It has Didn’t want to move. But REIT’s So I looked. becoming vacant. already lost three month’s income. have away of “inviting” one to move. I contacted the broker that assisted Concessions and work at the suite I was an 11-year tenant. It was at a floor mate in his move. It resulted they will need to do to make a new upgraded to handle today’s Internet will cost the REIT at least eight best an A-minus building. in me renting more space at much tenant happy. and telecommunications needs. My month’s rent. Well the arrogance of The REIT had always acted like less rent. Ok, it is a B building, but My current space is two blocks staff, working with the owner’s staff the REIT and its leasing agent sure they were doing me a favor. Corpo- as my friend noted, today office visits away. I see my old building from my made the move smooth. has paid off for them. rate arrogance, I guess. At my last with clients are rare and clients do top floor window. I have a new, clean- My current LL now has a full renewal there was a major mess after appreciate not having their billing er, upgraded and brighter space and floor in its building rented with a So which kind of owner are you? the lease was renewed. The president rates rise. So I looked at several it’s a solid B building. My windows five year lease. Which kind of rental agent are you? of the REIT called me himself to properties in the area. open! Good staff. Family owned. In this market no owner or leasing smooth out the mess. The leasing There are a lot available. Cheaper No nonsense owners. Sat down at a Oh yes, the old broker did email agent can afford to be arrogant or agent obviously has a short memory. with owners anxious to rent. They face-to-face meeting and ironed out me, (not a visit or a telephone call!), insulting to a tenant. No owner can And he thinks he was doing me a offered concessions and would nego- the lease. You know, like the, “good three weeks before the expiration of afford any space remanding vacant favor. The building manager and tiate. Some buildings included onsite old days.” This owner understood my lease, and “invited” me to discuss or becoming vacant. general staff were fabulous, but they free parking. I’m not the biggest “market conditions.” a renewal. My response pointed out •to comment on this story didn’t handle leasing. tenant. But vacant space, means zero The broker took the measurements that it was obvious he didn’t rent my visit nyrej.com• I was looking to reduce my office income. My current lease will gross in front of me and we arrived at an space, that his invitation was late and size. No need to pay for unused my landlord well above $100,000. accurate computation of net space I asked him (professionally) if he Howard Stern, Esq., is the owner space. I communicated this to the The REIT is receiving nothing for available. thought I was that stupid as to not and an attorney at Law Offices of same leasing person I initially rented my old space. And even when they The final rental, with concessions have protected myself. How imper- the space thru. He knew I was in the find a replacement, they have lost and work done, made the final sonal. How insulting. Had he acted Howard Stern, White Plains, N.Y. LAW OFFICES OF HOWARD STERN Administrator of RENT STABILIZATION ASSOCIATION OF NEW YORK Legal Plan for Small Property Owners Specializing in NYC Housing Issues: Rent Regulation Issues Howard Stern, Esq. Residential & Commercial Non Payment & Holdover Proceedings 3 Barker Avenue, Suite 290 Buying and Selling: White Plains, NY 10601 Rent Regulated Properties Office: (914) 683-0505 ext. 11 Apartment Buildings and Brownstones Fax: (914) 683-0508 Commercial Property Commercial & Residential Leases E-mail: [email protected] Collections and Judgment Enforcement Corporate Matters

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