The 30-Year Leasehold Condo – NYC – What you need to know.

The 30-Year Leasehold Condo NYC.  What you need to know Many nonprofits, including charitable organizations, educational organizations, and healthcare providers, are eligible for a real estate tax exemption when they hold legal title to a property. However, purchasing a commercial building or a commercial condo can be cost-prohibitive for many organizations. A way to get the full tax benefit of ownership without the […]

What is the Purpose of the Good Guy Guarantee? Everything you Need to Know.

What is the Purpose of the Good Guy Guarantee? Everything you Need to Know. The Good Guy Guarantee (GGG) started as a simple concept, yet it has become one of the most misunderstood components of a commercial lease. The biggest misconception is that it gives a tenant the ability to walk away from a lease […]

Finding the Perfect Office Space in New York City

Finding the Perfect Office Space in New York City Many brokerage websites claim that their firm will find you “The Perfect Office Space.” As a successful 30-year industry veteran, I am sorry to say that unless you have Jeff Bezos or Elon Musk type money, and cost is not a factor, the perfect space is […]

Annual Escalations in a Commercial Lease. What You Need to Know.

Annual Escalations in a Commercial Lease. What You Need to Know. The escalation clause is a provision in a lease that allows for annual increases in the rent. The rationale behind the clause is so a landlord can defray the increasing costs to operate, maintain, and service the building and continue to provide the same […]

Security Deposit in a NYC Commercial Office Lease. What You Need to Know

What is a Standard Security Deposit in a NYC Commercial Office Lease. In the high-stakes world of New York City commercial real estate, the security deposit is far more than a formality—it is often the most contentious point of a negotiation. Unlike residential leases where one month’s rent is the standard, commercial deposits can range […]

Deal Economics in a NYC Lease

The basic economic terms of typically more straight forward in a Class A Building where the rents are higher. Base Rent – This is the minimum rent that the tenant owes the landlord either on an annualbasis, a monthly basis, or a per square foot basis.Additional Rent – This is to account for the increase […]