RDM Provides Building Measurement Seminar to Newmark Brokers

This week, RDM's Vice President Fatos Soykan and Vice President of Sales and Marketing Blake Grosch, conducted an informational seminar for a group of Newmark Grubb Knight Frank brokers. This activity is part of RDM’s commitment to educate the real estate community on measurement methods.

See: RDM's Measurement Training Courses overview

The topics covered included space allocation on a given floor, the efficiency of a floor plate, and the differences between REBNY (Real Estate Board of New York) and BOMA (Building Owners and Managers Association) measurement standards. This valuable information will help these brokers speak more confidently when pitching or working with clients.

An overview of the course is provided below. If you have any interest in this activity, please reach out to Blake Grosch at blake@rdm1.com or 212-213-8190.

Space Allocation
Generally speaking a floor is divided into usable, floor common, and non-rentable space. Usable space is the area that a tenant uses for their activities; common space is the area that a tenant shares with another tenant on a multi-tenant floor; and non-rentable space includes stair wells that provide access to the entire building, elevator shafts, mechanical shafts, and building common areas.

Floor Plate Efficiency and Loss Factors
Floor efficiency is affected by the sizes of mechanical rooms, corridors, electrical closets, and bathrooms. Further by the configuration of the core, columns, thickness of the exterior walls, amongst others. Loss factors may need to be capped on an inefficient multi-tenant floor in order to bring them down to market standards.

The REBNY method measures to the outside surface of a wall, includes corridor walls as tenant USF, deducts building common areas, and utilizes a market loss factor to determine RSF. BOMA instead measures to the inside surface of the exterior wall, excludes corridor walls, and includes building common areas which are apportioned to each floor and generates the BOMA loss factor.