THE QUEENS
Nonprofi ts increasingly consider
Queens for new facilities
When searching for a new location in
New York City, most nonprofi t organizations
prioritize aff ordability, easy access
to public transportation, and proximity
to peers or to a specifi c population of
constituents.
As many organizational leaders know
fi rst-hand, it can be challenging to fi nd
a space that meets all three criteria, especially
in New York’s competitive real
estate climate.
“Queens has long been a home for
many great organizations, and it is proving
to be the answer for an increasing
number of nonprofi ts,” said Paul Wolf,
co-president of Denham Wolf Real Estate
Services, a consulting and brokerage fi rm
that works with nonprofi ts across the fi ve
boroughs.
In recent years, many historically
nonprofi t-friendly neighborhoods in
Manhattan have become unsustainable
for tenants, partly due to an infl ux of
well-funded companies in the technology,
advertising, media, and information
(TAMI) sector. Asking rents in these
neighborhoods have risen; when the time
for a possible lease renewal arrives, nonprofi
ts may be shocked by asking rents
of almost $50 per square foot, or sometimes
more.
As a result, organizations are looking
to other boroughs, and key among these
options is Queens.
Public transportation is an important
factor for nonprofi ts that are consider-
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The Denham Wolf staff meet
Staff Meeting courtesy Denham Wolf
NOVEMBER 2017