Published
Author: Mensah Alkebu-Lan
Table of Contents #
What is Class A Office Space
Calculating Square Feet
The Lipstick Building
What is Class A Office Space? #
In the world of commercial real estate, there are generally three types of office buildings– Class A,B,C. Class A are considered the highest quality, then B, then C.
Class B and Class A properties differ in that prospective tenants of Class B tenants are generally looking for a functional space and not necessarily to impress anyone. Tenants of Class C properties are generally small businesses offering industrial services like landscaping and construction.
In class A buildings, a prospective tenant expects to see high-quality, first-class finishes and state of the art technological capabilities. The tenants of class A office buildings are typically law firms and other providers of high end professional services. Amenities Class A office buildings can include things like a fitness center and other pleasantries. As you may have already guessed, the rental rates are usually higher compared to other locations in the area.
Calculating Square Feet #
There is no shame in not being able to calculate square feet, or you just can’t remember. This is something that’s not just helpful when looking at real estate. For example, for DIY projects at home, it can help you save on the cost of materials.
To calculate the total square footage of an area, multiply the length and width. Sounds simple enough, right?
For some of us the difficulty comes in when we start thinking about units of measurement. If we’re talking about square inches, both length and width need to be converted to inches. It works the same for square yards and square meters.
And so it makes sense when calculating the area of a square or rectangle to find the unit of measurement that’s most appropriate. For example, when finding the square footage of a room, it may be best to have both the length and width converted to or measured in feet.
The Lipstick Building #
Completed in 1986, the Lipstick Building is a class A office tower offering over 600,000 square feet of office space. It’s called the Lipstick Building because of its recognizable shape that looks like a tube of lipstick. It is a three-tiered cylindrical tower with a red granite and stainless steel facade. Designed by architects Philip Johnson and John Burgee, the idea was to try to make every office a corner office. Its address is 885 Third Avenue in New York City between East 53rd Street and 54th Street.