NYC Commercial Real EstateLeasing commercial space in NYC is challenging to say the least. We will help you from start to finish and make sure the proper terms are in your commercial lease agreement.
LeasingDraft/Review a Commercial Lease
BuyingBuying a Commercial Property
SellingSelling a Commercial Property
3 Easy StepsGet to your Commercial Real Estate closing with our trusted attorneys
Step 1Answer a few easy questions. You can finish in as little as 15 minutes.
Step 2An attorney will prepare and review your documents for your real estate closing.
Step 3We will execute the documents and have your real estate closing.
New York Commercial Property
Residential vs. Commercial Real Estate
The distinction between residential and commercial real estate in New York
- 3-bedroom family home (Residential)
- 20-room hotel (Commercial)
- Home remodeled as duplex (Residential)
- 10-unit apartment complex
- Gas station (Commercial)
The one word that everyone loves is what distinguishes residential from commercial: profit. Keep in mind, though, that the old tenet "money isn't everything" wasn't just a cute classroom quote to make you share your snacks. There's a few other things you need to consider as well.
What to Know About Commercial Real Estate
Issues as a Buyer
- Large tax liability from appreciated property
- Liability deferral (e.g., IRS Code Section 1031)
- Potential mechanic’s liens
- Surveys, maps, local codes, easements
Issues as a Seller
- Undisclosed conflicts of interest (e.g., dual agencies)
- Loss of liquidity
- Potential for squatters or non-paying tenants
Experienced NYC Commercial Real Estate Attorneys
New York commercial real estate is an entirely different beast than residential properties. The properties are on a larger scale, so the risks are as well. Don’t take the chance of leaving yourself with financial or legal issues after the sale. Contact us at Fisher Stone today to ensure a smooth process through your commercial endeavors.
If residential real estate is the cute little bear cub at the Central Park Zoo, New York commercial real estate is its 700-pound, angry and hungry uncle that lives in Canada. The properties are on a larger scale, so the risk is larger as well. We can't help you against the grizzly, but we can simplify the commercial real estate process for you any time.
Schedule your Free 15-minute Strategy Session
If you have any questions, our attorneys would be happy to answer them for you. Speak with an attorney today.