{"id":1004211909,"date":"2012-06-21T00:00:00","date_gmt":"2012-06-21T08:00:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/cpe-uncategorized\/re-measuring-for-due-diligence\/1004211909.html"},"modified":"2020-02-17T01:06:31","modified_gmt":"2020-02-17T09:06:31","slug":"re-measuring-for-due-diligence","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/re-measuring-for-due-diligence\/","title":{"rendered":"Re-Measuring for Due Diligence"},"content":{"rendered":"<p>When assessing the value of a building on either the buyer\/seller side in a sale many factors such as location, condition, and existing tenant base are considered.\u00a0 Another important aspect is total rentable square footage.\u00a0 Rsf as you know is a piece used to determine the fee for renting a given amount of space in a building.\u00a0 It\u2019s critical then as a landlord to utilize sf numbers that are accurate and follow REBNY or BOMA measurement standards in order to maximize rentable income.\u00a0 It is also vital during a due diligence phase to be certain that the rsf numbers being used to establish the ongoing value of the property are in fact correct. \u00a0<!--more--><\/p>\n<p><a href=\"https:\/\/www.rdm1.com\/\" target=\"_blank\" rel=\"sponsored\">RDM<\/a> has performed due diligence surveys for many acquisitions on both the buyer\/seller sides.\u00a0 Most recently we\u2019ve provided services for the 222 Broadway, 1370 Broadway, and 4 NY Plaza transactions.\u00a0 Over the years our work has helped discover inconsistencies in rsf numbers presented to the potential buyer, added credibility to existing calculations, and uncovered additional value because the building was under measured.\u00a0 One way a building can be under measured in NYC, apart from being done incorrectly, is the loss factor applied to the REBNY usable space is below market average.\u00a0 Historically we\u2019ve seen that buildings under measured grow anywhere from 3% to 10%.\u00a0 This growth translates to a significant amount of additional rentable income.<\/p>\n<p>I suggest asking yourself the following question: Given the amount of time and money you spend to acquire a building does it make sense to take a chance on the existing rsf numbers?<\/p>\n<p><strong>&#8211; This post written by <em><a href=\"mailto:blake@rdm1.com\" target=\"_blank\">Blake Grosch,<\/a>VP &#8211; Sales &amp; Marketing <\/em>at <a href=\"https:\/\/www.rdm1.com\/\" target=\"_blank\" rel=\"sponsored\">Real Data Management<\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When assessing the value of a building on either the buyer\/seller side in a sale many factors such as location, condition, and existing tenant base are considered.\u00a0 Another important aspect is total rentable square footage.\u00a0 Rsf as you know is a piece used to determine the fee for renting a given amount of space in&hellip;<\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[39372],"tags":[],"class_list":["post-1004211909","post","type-post","status-publish","format-standard","hentry","category-cpe-blog"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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