NYC Commercial Real Estate Lease Example
I'm thinking about signing a lease to open up a business in NYC and was wondering if anybody has a sample of a commercial real estate lease from an existing property. I know this is a long shot but any help would be great.
[{"id": "db8k2b0", "text": "The landlord will most likely provide this, then you should have your attorney review it.  Outside of some very corporate type tenants who require the landlord use their lease, the tenant rarely needs to come up with the lease doc, unless there is some weird norm in NYC I'm not aware of.  \n\nCommercial leases tend to be highly custom and lengthy.  Most states have a fair amount of protections for tenants and landlords on a residential lease transaction built into the law so there is less to negotiate.  In commercial the general assumption is you are operating in a professional capacity and are more or less free to make your own rules with less regulation, so its pretty important you have someone who knows what they are doing help you on this (ie a re lawyer).  ", "replies": [{"id": "db8l57g", "text": "&gt; The landlord will most likely provide this, then you should have your attorney review it.\n\nExactly. OP, I am not sure where you're looking but this is likely going to be provided by the LL.\n\n&gt; unless there is some weird norm in NYC I'm not aware of.\n\nNever seen a T provide the lease in NYC.", "replies": [{"id": "db8lyki", "text": "I am not providing the lease but just wanted a lease to compare to since I have never had any business dealings in NYC.  I know I worded the title terribly. ", "replies": [{"id": "db8m0po", "text": "You should get an attorney familiar with commercial RE leases. Where is the property? Is this a major LL?", "replies": [{"id": "db8mddr", "text": "Yeah, I have already contacted one from a few different references but I was just going to try and get a head start on reading it before I send it out to him. The landlord has some pretty significant holdings but is family owned business. ", "replies": [{"id": "db8miyr", "text": "There are a bunch of commercial leases some LLs even have a completely custom lease. Even if you saw one beforehand, it may be drastically different from the one you receive. I highly advise you to discuss it with an attorney when you receive it. ", "replies": [], "depth": 6}, {"id": "db8yfrg", "text": "Reviewing a random lease really isn't going to be very helpful to you. It can very a huge amount depending on the location, term length, buildout, building class, renewal options, etc.\n\nJust because a term is included in some other random lease doesn't mean it's applicable to your situation, and similarly a random lease may be missing sections that are absolutely critical for your business to have included.\n\nHave a real estate attorney look over the landlord's lease for you to see if it's fair. Keep in mind the landlord is usually going to write everything in their favor and the building's broker represents the landlord's interests, not yours.\n\nMake sure your interests are being looked out for as well.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "db8l697", "text": "OP, where in NYC are you looking? Who is the LL? ", "replies": [{"id": "db8m46n", "text": "I am opening up a franchise business in the city and am in the process of assuming a lease from the franchisor in Greenwich Village.  The franchisor was in the process of opening up a corporate location but since I signed a few locations, they provided me with this location to get started early.  I am not providing the lease.  I have a copy of the lease that the franchisor signed and am waiting to hear back from the landlord and see what they change after they review my financial statements.  /u/TOMtheCONSIGLIERE are you a real estate lawyer in NYC?  ", "replies": [{"id": "db8md8d", "text": "I am confused. So your business is entirely different then the tenant you're replacing? ", "replies": [{"id": "db8miwg", "text": "No, the franchisor was going to open up the location and instead of them opening it up, they are giving it to me to open up since I signed for a few locations in the city.  Basically, the franchisor is focusing on being a franchisor rather than owning and operating a location.  Does that make sense?", "replies": [{"id": "db8mo41", "text": "Signed up for a few locations? Did the franchisor build it out or are you doing the build out?\n\n-\n\nAre you familiar with franchises? Did you have an attorney review those documents?", "replies": [{"id": "db8mxe9", "text": "Yes.  The landlord is providing a shell, and I will be responsible for the rest of the build out with some reimbursement.  Yes I am familiar with franchises.  I have different investments in a few other franchise companies.   ", "replies": [{"id": "db8n1r6", "text": "Okay, just make sure you have a good RE attorney.", "replies": [{"id": "db8n48u", "text": "Yeah for sure.  If there is one thing I have learned from reading online and talking with people is that you need a good RE attorney familiar with NYC real estate.  ", "replies": [{"id": "db8pawg", "text": "Truth", "replies": [], "depth": 9}], "depth": 8}], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dbh2w6x", "text": "http://www.nycbar.org/for-the-public/legal-forms-and-resources/real-estate-forms", "replies": [], "depth": 1}]