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Mick88, Renter in 10001

4 comm space, usable sq feet, is it measured from the outside of the brick etc or the inside of the brick? in nyc

Asked by Mick88, 10001 Wed Dec 14, 2011

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According to KBa's lease audit website, http://www.kbalease.com/2009/12/methods-of-building-measurement/… New York City is the only major market that does not use a BOMA (Building Owners & Managers Association) method of measurement. Instead, New York City uses the Real Estate Board of New York (REBNY) standard when measuring properties. This standard is far more aggressive than BOMA, as usable space is measured to the outer face of the building exterior wall. The thickness of the demising wall between tenants and floor common areas are also included as useable footage. REBNY does not define how rentable footages should be calculated. Instead, a loss factor is applied on usable areas. This number is market driven and varies on both a full floor basis and a multi-tenant basis. Landlords in New York City use different approaches to determine what loss factor they decide to apply:
Applying a set full floor loss factor throughout the property. It should be noted that full floor loss factors can yield very high multi-tenant loss factor on inefficient multi-tenanted floors. In this case, most landlords decide to cap the multi-tenant loss factor (usually between 33%-35%).
Applying set rentable numbers throughout the property to simplify leasing and marketing efforts. This may result in each floor having a different loss factor.
Matching the rentable area to the property’s building gross area. This method tends to result in loss factors lower than the market standard.
0 votes Thank Flag Link Mon Feb 27, 2012
New York is famous for these crazy measurement systems, especially with commercial spaces...
here is a discussion on this topic from Real Deal http://therealdeal.com/blog/2010/03/04/inexact-science-of-sq…
0 votes Thank Flag Link Mon Feb 27, 2012
thanks for all your answers but it seems that in NYC the REBNY
code calls for using the outside of the walls which in my case is about 1 foot thick. Seems criminal that they recommend this method as it is a clear misrepresentation of the actual usable space.
0 votes Thank Flag Link Thu Dec 15, 2011
Proper due diligence is necessary before signing the lease as there are various methods of measuring...
0 votes Thank Flag Link Thu Dec 15, 2011
Generally from inside the brick, but gross sq.ft may include some portion of common areas as well so make sure you get all of the details.
0 votes Thank Flag Link Wed Dec 14, 2011
It is measured from the inside as usable space.
0 votes Thank Flag Link Wed Dec 14, 2011
Usable is the amount of space on the inside you can actually use. What you are describing is called Gross or Rentable square footage (RSF). What yo must know is that RSF can be negotiated to reduce rent if overstated.

All commercial deals I do are negotiated point by point. Every little detail and agreement that is put in place with the landlord is what accompanies you the entire time you are in the space. So price per foot, utilities, landlord's work, tenant's work, escalations, tax caps and pass through, garbage, HVAC, sprinklers, water, heat, electric, fixtures, use limitations, sublease provisions... and the list goes on.

If you've never rented commercial space, you need to have a professional walk you through it.
0 votes Thank Flag Link Wed Dec 14, 2011
In all my experience, it is measured from the inside brick of the common space. It is the useable space.
0 votes Thank Flag Link Wed Dec 14, 2011
That will depend on the building and the developer giving instructions to the engineer on where to measure square footage.

You will want to hire your own engineer to get accurate square footage.

Jennifer Chiongbian
SVP/ Associate Broker
Rutenberg Realty NYC
9172502284
0 votes Thank Flag Link Wed Dec 14, 2011
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