Renting offices in the Five Towns

The idea for creating office spaces more suitable for individuals and small businesses came to Matt Probkevitz back in 2002, when he was working as a real estate broker for CB Richard Ellis.
With only a few dollars in his bank account and his wife expecting a baby at the time, Probkevitz said that he needed an office space for one: himself.
“I just needed one private office to work in,” he said. “I said to myself, ‘If I needed one, there must be others who do, too.’”
That’s when Equishares was created. Equishares, which will change its name to YouOffice later this year, is a real estate development company focusing on office rental properties tailored for the small business owner.
Probkevitz said that his idea for creating his office rentals was inspired by a popular office fixture. “I think about my properties as being like a virtual water cooler,” he said. “In the old days, people would gather there, around the water cooler, to connect with each other. Because we put our tenants first, people want to gather in one of our properties to work.”

For about $800 a month, one rental office space in an Equishares property also includes utilities, a stocked kitchenette shared among all the offices, Internet, property surveillance, cleaning, and 24-hour, seven-day-a-week access to offices.
“We are all about the individual, as a company,” Probkevitz said. “The Internet has really changed the way how people work. These offices are turnkey positions. For about $800
a month, a person or company could be up and running quickly.”
The only challenge to operating the turnkey operation, Probkevitz said, is the maintenance cost. “The way my properties are set up, it’s basically a hotel for offices,” he said. “We’re not just renting out an office space to someone. We maintain each and every office we rent.”
Also with this type of rental situation, there is turnover. This means that tenants can opt out from renting office space, should their business needs change. “They can opt out with 90-day notice,” Probkevitz said. “It is short-term leasing. Because of the turnover, my work is very labor intensive.”
Probkevitz’s latest project at 499 Chestnut Street in Cedarhurst, is expected to be finished by October this year. “I call it the jewel of the Five Towns,” he said. “It’s the oldest building in the village. It was an old movie theatre. We have tenants already who are interested in an office space there.”
Scott Santana, the managing director of Andrews Property Services in Cedarhurst, was the manager of the Cedarhurst Center, Probkevitz’s first property. “He really specializes in creating executive offices, especially for someone looking for a small office locally to rent,” he said. “It’s taken off pretty big in Cedarhurst. Small businesses benefit, too.”
Cedarhurst-based lawyer Amy Mosery said she had gone to see a nutritionist in another Probkevitz property, 91 Carman Ave. in Cedarhurst, when she was “blown away” by the decor. “The design content and vibe in the space is like a South Beach, Miami hotel,” she said. “The office I rent is very convenient for me. I live in the Five Towns, in Woodsburgh, and it’s very easy to access my office. When I saw the property, I was hooked.”