NYC office leasing broker
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[{"id": "fjnt4oo", "text": "I work for a family owner in Manhattan and am in-house office leasing. We work on a portfolio of about 400K RSF. \n\nYou need to make sure you have an idea of what splits will be if you are on a team. Also pay very close attention to where and who they work with in specific submarkets. \n\nRight now certain parts of the market continue to be red hot while space in other areas are dead in the water. IMO we are seeing a squeeze on Class B/C leasing activity from the rise in coworking because of flexibility and scale. Location continues to be a key factor for TAMI uses which has affected certain neighborhoods. \n\nIf you are getting a salary thats great in a brokerage role but i would ensure that your splits are transparent and thta you are being put on some deals. \n\nAs far as the investment sales side, multifamily market here in NYC is in the toilet due to recent legislation but anything you have learned in the past will always be relevant.", "replies": [], "depth": 1}, {"id": "fjnwweh", "text": "If your plan is to quit investment sales every time the market is slow you may as well find a new career in leasing. That strategy doesn\u2019t work. This is an all or nothing business good times and bad. That being said the office market is hot right now and perhaps you can get your foot in the door of doing some office sales in addition to leasing.", "replies": [], "depth": 1}, {"id": "fjo03o0", "text": "If you want to stay involved in real estate investments stay in investment sales or asset management. Office leasing does not require nearly as much financial analysis as either of those. It really is more of a sales position (selling to both LL and TT). There is a ton of money to be made if office leasing especially in NYC but the only additional value that this position would bring is market statistics for whatever market you serve.\n\nRegarding compensation you can make a ridiculous amount of money leasing. Pay structure is typically as follows for office:\n\n5% of annual base rent per year if you rep the LL\n2.5% of annual base rent per year if another broker brings in a TT to a building your rep (he/she will get 5%)\n5% of annual base rent if you rep the TT\n\n\nIn my opinion you can make a ton of money but I really see it as a lateral move from  IS.", "replies": [], "depth": 1}, {"id": "fjodpqa", "text": "I\u2019m in nyc as well so I get it however there are still some deals and the market is picking up. If you can\u2019t afford to tough it out anymore then it is what it is but if you leave sales you will be out of the game and won\u2019t be able to just step back in when the market picks up again. Plan for something that you can sustain long term.", "replies": [], "depth": 1}]