NEW YORK, Jan. 28 /PRNewswire/ -- Veteran New York real estate executive Bruce Feldman has announced the formation of a unique real estate consulting practice specializing in lease renewals and subleases for commercial tenants. Bruce Feldman Associates LLC is based in Manhattan with an additional office in White Plains, NY.
Mr. Feldman, who has held senior leasing positions with several large New York commercial portfolios and headed up TMP Worldwide's Monstermoving.com, plans to focus the firm's efforts on renegotiating and extending leases in the office and retail sectors. He believes that the current market challenges presented by the new economy heighten the need for expertise around these transactions.
"In some fundamental ways, we are looking at a new commercial real estate market in New York," says Mr. Feldman. "I have seen too many tenants concentrate all their efforts on negotiating new leases and then treat their renewals and extensions as an afterthought. The current market conditions – and really any market conditions – make it vital for tenants to thoroughly analyze and negotiate renewals as if they were new leases which, for all intents and purposes, they are."
Bruce Feldman Associates LLC's professional staff has deep experience negotiating with tenants on behalf of landlords. Mr. Feldman, who is serving as the new firm's President, believes that practical knowledge of the landlord negotiation process is a necessity for any tenant with the uncertainty of an expiring lease.
"If a tenant signs consecutive eight-year leases, they really have just one opportunity in sixteen years to impact their hard costs, soft costs and peripheral conditions," according to Mr. Feldman. "In my time on the other side of the negotiating table, I was shocked by how few tenants felt they needed market expertise at that key moment in time." On the other hand, "Some leases, no matter how many years still remain, can be renegotiated," he said. "This requires an understanding of the positions of both landlord and tenant in a given point in time relative to the current market conditions."
Bruce Feldman is President of Bruce Feldman Associates LLC. For more than 15 years, he has served as a senior leasing executive for some of the finest properties in metropolitan New York. He also served as Executive Officer for Monstermoving.com – an offshoot of TMP Worldwide's Monster.com. A resident of White Plains, NY, he is a New York State Licensed Real Estate Broker, Certified Commercial Leasing Specialist, and Certified Leasing Advisor. He is a graduate of Pace University's Lubin School of Business.
Bruce Feldman Associates LLC is a New York City based leasing consultancy representing tenants exclusively and specializing in lease renewals. Formed in 2009, its web address is www.brucefeldmanassociates.com. Addresses: 228 Park Avenue South, NYC 10003, 212/710-3005, 445 Hamilton Avenue, White Plains, NY 10601, 914/358-6404.
SOURCE Bruce Feldman Associates LLC