Key Business Considerations for Office Owning or Leasing

James Nelson

We are going to be talking about considerations for businesses, on whether or not they own or lease their space. This segment of the market has received a lot of attention recently, especially from those who are buying office condos as a way to expand their businesses. In the first half of the year, although sales across almost all asset classes went down, office condo sales went up by 184 percent. The only two asset classes that also recorded gains were industrial and single family. Although office condos in other cities around the world are very prominent, here in New York, especially Manhattan, it is a very small percentage. Office condos only account for about 10 million square feet, compared to 400 million square feet available for lease.

Here to discuss some of the considerations are Aaron Lerner, senior manager at the accounting firm EisnerAmper, and Mario Dicerbo, SVP at Bank of America, to talk about some of the financing options.