Abie Hidary on Last Week's Poll

WHERE DO YOU STAND ON CONCESSIONS?

We all like a little something for free, and New York City office tenants are no different. We asked our readers how they felt about concessions and they were close to being even. A stout 43% of you said “We’re standing pat – but it’s getting tough.” Another 38% voted that tenants are getting what they want, while another 19% don’t believe in concessions. Real Estate New York spoke with Abie Hidary, president of Hidrock Realty, and he expressed the necessity of looking at each building individually.

“I think it’s very hard to just look at New York City and make a general rule about concessions because it depends dramatically on the building and what you’re giving and the type of landlord. If you’re a landlord that’s pretty hands-off and going to say, ‘Here’s the space, take it the way it is,’ then you’ve got to give six months’ concession, seven months’ concession.