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About Greenwich Village Commercial Townhomes NYC

Purchasing and owning a commercial townhouse or corporate headquarters has many benefits. The most unspoken benefit is your own identity. Your company has the opportunity to own their own office/building ranging from 4,000 SF upwards of 10,000 SF. A footprint in Greenwich Village’s prestigious workplace is an identity within itself.

With multiple floors, the opportunities are endless. From office floors to conference areas, to lounge and entertainment floors, everything is within reach. Having an ADA elevator to access any floor makes these townhouses very convenient for all employees as well as clients.

Every townhouse has a lower level/basement with enough space to create your company gym with 24/7 access to employees. Being that it is a townhouse, showers and changing areas are an easy installation.

Having a rooftop above your corporate office serves many purposes. For those long days where employees need some fresh air, or the Friday afternoon company meetings, can become enjoyable for everyone on your roof deck. Inviting clients over for a catered lunch on your rooftop then take and an elevator ride down a few floors to discuss the business points of closing that deal.

Now that you’re picturing your company in a corporate headquarters, let us send you all the availabilities. We will also walk you through the entire process with the banks to ensure you get the best rates and full white glove service from start to finish.

Condos / Co-ops / Townhomes

Condominium

A commercial condominium is a portion of an office building (referred to as a "Unit") that can be purchased, rather than leased, from the owner/developer of the office building (referred to as the "Sponsor"). The owner of the office condominium unit (the "Unit Owner") holds title to the premises and has full control over any and all design elements within the premises. Office condominium units may also be purchased from another Unit Owner. The condominium unit may be as small as a single office suite among many suites on a floor of an office building, or it could consist of an entire floor of an office building, or even several combined floors. Any construction or other improvements made to the premises of the office condominium belong to the Unit Owner.

Cooperative

Purchasers of a Cooperative buy shares in the corporation allocated to a particular floor or unit. Ownership of the shares entitles the purchaser to a long term proprietary lease for the unit. Maintenance charges are based upon the number of shares in the corporation allocated to a unit.

Townhouse

Commercial townhouse ownership is "fee simple" ownership of real property. There is no board approval in the purchase or sale of a townhouse. The sale of the property may be conveyed to any party without prior approval by anyone other than the property. Unlike cooperatives and condominiums, townhouses in New York City do not require monthly payments to a building for expenses. Townhouses are measured and sold using real feet. Meaning there is no "loss factor." There are expenses each year for real estate taxes, water and sewer charges, utilities and heat, and maintenance and repair. Tax rates are determined annually by the NYC Council according to class of real property.

Benefits of Owning

• Fixed Costs: Locking in your commercial mortgage long-term can give your business clear, fixed costs.
• Tax Deductions: The associated costs of owning and running a commercial space can provide tax deductions in the form of mortgage interest, property tax deduction and depreciation tax deduction.
• Additional Income: Owning your office can offer the advantage of renting out extra office space, adding another source of income.
• Retirement Savings: The prospect of owning commercial space and having the property appreciate over time, allows the owner to sell at a future date and fund their retirement.
• Accelerated Depreciation refers to any one of several methods by which a company, for 'financial accounting' or tax purposes, depreciates a fixed asset in such a way that the amount of depreciation taken each year is higher during the earlier years of an asset's life.
• Straight-line Depreciation is the depreciation of real property in equal amounts over the allowed life of the property for tax purposes. A certain commercial property can be depreciated using a tax life of 39 years.
• Owners of commercial real estate can reduce their tax bill by depreciating the value of their property over a set period of time (the buildings' "useful life," as defined by the IRS): the IRS depreciates residential rental buildings over 27.5 years and retail and other commercial structures over 39 years.
• Resource Link: Raisal.com How Federal Tax Reform Will Impact Commercial Real Estate

Business Loan Lenders

Bank of America - Small Business Financing Real Estate Loans

Chase - Business Bankning Loans Real Estate Financing

Wells Fargo - Wells Fargo Business Credit Purchase Loan

Savoy Bank - Commercial Real Estate Buiness Loans

Citibank - Citibank Commercial Real Estate Loans Division

Small Business Association (SBA) Loan
The SBA works with lenders to provide loans to small businesses. The agency doesn't lend money directly to small business owners. Instead, it sets guidelines for loans made by its partnering lenders, community development organizations, and micro-lending institutions. The SBA reduces risk for lenders and makes it easier for them to access capital. That makes it easier for small businesses to get loans.
https://www.sba.gov/