Market intelligence
Studies
Written as the questions come up in real deals — the lease mechanics that move money, worked from first principles.
Lease mechanics
Operating Expense Escalations
In a NYC office lease, an operating expense escalation passes through the tenant’s share of increases in the building’s operating costs — payroll, cleaning, insurance, utilities, management — above a base year.
Lease mechanics
Tax Escalations
In a NYC office lease, a tax escalation passes through your share of increases in the building’s real-estate taxes above a base year.
Lease mechanics
The Loss Factor
In NYC office leases, the loss factor is the gap between rentable and usable square footage — typically 25–35% in Manhattan towers — meaning you pay rent on space you cannot occupy.
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3 published · 17 in the run.
Relocating in the next eighteen months?
Tell me the requirement and I’ll send a shortlist of three to five buildings within 48 hours.