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Notice of Public Hearing
NOTICE IS HEREBY GIVEN THAT A REAL PROPERTY ACQUISITIONS AND DISPOSITIONS PUBLIC HEARING, in accordance with Section 824 of the New York City Charter, will be held on September 13, 2017 at 10:00 a.m., 1 Centre Street, 20th Floor, Conference Room D, Borough of Manhattan,
IN THE MATTER OF a lease for the City of New York, as Tenant, for office space to be located on the entire fifth (5th) floor of the Building at the property located at 25 Chapel Street a/k/a 40 Flatbush Avenue Extension (Block 118, Lot 6) in the Borough of the Brooklyn for the New York City Police Department for continued use as office space or for such other use as the Commissioner of the Department of Citywide Administrative Services may determine.
The proposed lease shall commence upon execution and expire 10 years following Substantial Completion of alterations and improvements at an annual rental of $535,576.00 for the period from execution to Substantial Completion, $967,393.91 for the period from Substantial Completion to Year 5, and $1,082,358.16 for the period Year 6 to Year 10, payable in equal monthly installments at the end of each month.
The lease may be terminated by the Tenant in whole or in part at anytime after the seventh (7th) year following Substantial Completion provided the Tenant gives the Landlord two hundred and seventy (270) days prior written notice. Additionally, the Tenant shall have the right to renew the lease for a period of five (5) years at 95% of the Fair Market Rental Value.
The Landlord shall prepare final architectural plans and engineering plans and make alterations and improvements in accordance with preliminary architectural plans and specifications which are attached to the Lease. The alterations and improvements consist of Base Building Work which the Landlord shall provide at its sole cost and expense.
IN THE MATTER OF a lease extension for the City of New York, as tenant, on the 4th and 6th floors of the building located at 52 Duane Street (Block 155, Lot 3) in the Borough of Manhattan for the Law Department to use as an office, or for such other use as the Commissioner of the Department of Citywide Administrative Services may determine.
The proposed lease extension shall be for a period of fifteen (15) years from September 1, 2017, at an annual rent of $1,090,040 for years 1 through 5, $1,253,545 for years 6 through 10, and $1,441,580 for years 11 through 15, payable in equal monthly installments at the end of each month. Tenant shall pay to Landlord with the first month’s rent retroactive rent for the period May 7, 2015 to August 31, 2017.
The lease extension may be terminated in whole or by full floor by the Tenant effective as of the 5th anniversary of the lease extension commencement date or at any time thereafter, provided the Tenant gives the Landlord nine months’ prior written notice.
The Landlord shall make alterations and improvements at his sole cost and expense as per a scope of work.
IN THE MATTER OF a lease for the City of New York, as tenant, for 16,827 rentable square feet of space on Levels G3 and G4 of the building located at 118-35 Queens Boulevard (Block 2270, Lot 41) in the Borough of Queens for the New York City Police Department to use as an office with parking facility, or for such other use as the Commissioner of the Department of Citywide Administrative Services may determine.
The proposed use was approved by the City Planning Commission pursuant to NYC Charter Sec 195 on June 8, 2016 (CPC Appl. No. 160304PXQ) Public Hearing Cal. No. 20.
The proposed lease for the premises shall commence at the earlier of occupancy or Substantial Completion of alterations and improvements and will expire twenty (20) years thereafter, at an annual rent of $708,877.00 for Years 1 through 5, $800,345.00 from Years 6 through 10, $903,246.50 for Years 11 through 15, and $1,017,581.50 for years 16 through 20, payable in equal monthly installments at the end of each month. The 1st six (6) months of the 1st year’s rent Tenant shall be abated.
Landlord shall provide forty-three (43) interior parking spaces and two (2) exterior parking spaces at a monthly rate of $9,225 per month ($205 per space), subject to increase during the term in accordance with the terms of the lease.
Tenant shall have the option to renew the lease for a period of five (5) years at ninety-five percent (95%) of the then Fair Market Value Rental.
Tenant shall have the right to terminate the lease, in whole or in part, upon the fifth (5th), tenth (10th), or fifteenth (15th) anniversary of the Base Rent Commencement Date. In the event of said cancellation, the Tenant shall pay the Landlord all rents and charges due and payable up to and including the Termination date, as well as the unamortized portion of the Tenant’s broker’s commission paid by the Landlord, and the unamortized portion of the Landlord’s contribution towards the Tenant Work.
The Landlord shall prepare final architectural plans and engineering plans and make alterations and improvements in accordance with preliminary architectural plans and specifications which are attached to the lease. The alterations and improvements consist of Base Building Work, which the Landlord shall provide at its sole cost and expense, and Tenant Work. The total cost the final architectural plans and engineering plans for the Tenant Work and the Tenant Work shall not exceed $5,216,817 of which the Landlord shall contribute $900,443 and the balance $4,316,374 will be paid by the Tenant in accordance with the terms of the lease.
IN THE MATTER OF a lease for the City of New York, as tenant, for space on the Entire 17th and 18th floors of the building located at 123 William Street (Block 78, Lot 4) in the Borough of Manhattan for the New York City Department of Youth & Community Development to use as an office, or for such other use as the Commissioner of the Department of Citywide Administrative Services may determine.
The proposed use was approved by the City Planning Commission pursuant to NYC Charter Section 195 on February 3, 2016 (CPC Appl. No. N 160119 PXM) Public Hearing Cal. No. 9).
The proposed Lease shall be for a period of twenty (20) years and four (4) months commencing September 1, 2017, at an annual rent of $2,071,110 for the first five (5) years; $2,233,550 for the following five (5) years; $2,395,990 for the next five (5) years; and $2,558,430 for the last five (5) years and four (4) months, payable in equal monthly installments at the end of each month.
The Lease may be terminated by the Tenant as of the tenth (10th) or fifteenth (15th) anniversary of the Rent Commencement Date, provided the Tenant gives the Landlord three-hundred and sixty-five (365) days’ prior written notice. In the event the Lease is terminated by the Tenant, the Tenant shall pay to the Landlord the unamortized portion of transaction costs over the Term of the Lease applicable to the portion of the Lease being terminated for rent abatement, Landlord’s Contribution to Tenant Work, and brokerage commissions calculated using a 6% discount factor.
The Tenant shall have the right to renew the Lease for a period of five (5) years upon not less than 14 months and no more than 24 months prior written notice at an annual base rent equal to the higher of either a) the then escalated rent, or b) 100% of Fair Market Value Rental.
The Landlord shall prepare final architectural plans and engineering plans and make alterations and improvements in accordance with preliminary architectural plans and specifications which are attached to the Lease. The alterations and improvements consist of Base Building Work, which the landlord shall provide at its sole cost and expense, and Tenant Work. The Landlord shall contribute $1,624,400 and if any of Landlord’s contribution is not used, Tenant shall receive a rent credit in the amount of the difference between the landlord’s contribution and the final Tenant Work Cost.
Further information, including public inspection of the proposed lease may be obtained at One Centre Street, Room 2000 North, New York, N.Y. 10007. To schedule an inspection, please contact Chris Fleming at (212) 386-0315.
Individuals requesting Sign Language Interpreters should contact the Mayor’s Office of Contract Services, Public Hearings Unit, 253 Broadway, 9th Floor, New York, N.Y. 10007, (212) 788-7490, no later than SEVEN (7) BUSINESS DAYS PRIOR TO THE PUBLIC HEARING. TDD users should call VERIZON relay services.