That means smaller spaces that can be used more efficiently and collaboratively. Landlords in Midtown are making deals with tenants who sign long-term leases in Class A buildings giving them a month or more of free rent a month . On top of discounted rent, building owners are also offering over $200 per foot in work allowances as more developments in Manhattan and elsewhere come on the market and the cost of moving offices is reduced. With companies such as WeWork and WeWork offering large co-working office spaces, flexibility has become more desirable and so bigger incentives are needed to attract long-term deals.
Landlords in Midtown are making deals with tenants who sign long-term leases in Class A buildings giving them a month or more of free rent a month . On top of discounted rent, building owners are also offering over $200 per foot in work allowances as more developments in Manhattan and elsewhere come on the market and the cost of moving offices is reduced. With companies such as WeWork and WeWork offering large co-working office spaces, flexibility has become more desirable and so bigger incentives are needed to attract long-term deals.