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Economic Development Corporation (EDC)
110 William Street, 4th Floor, New York, NY 10038
Maryann Catalano
phone: (212) 312-3969
fax: (212) 312-3918
Goods and Services
Request for Proposals

PIN#7077-00 - Due: 5/4/2018 4:00 PM

New York City Economic Development Corporation (NYCEDC) is pleased to invite qualified respondents (“Respondents”) to submit proposals to this Request for Proposals (“RFP”) to lease Unit A (the “Space”) within in The Audubon Ballroom Building (the “Building”) located at 3940 Broadway, New York, NY 10032 for retail uses conforming to zoning use C6-2 and applicable regulations. The Space is one of three units within the Building. Unit A, which is the subject of this RFP and currently leased to Chase Bank, has approximately 3,788 square feet of ground floor retail space. Unit A is built out as a bank branch, with retail/lobby space with ceramic commercial tile and carpeted floors, painted drywall and glass partitions, and drop ceilings with 2’x2’ tiles and recessed fluorescent lighting. The floor to ceiling height is 9-10 feet. Space allocation includes an ATM area (3), teller area (9), as well as office cubicles, rest rooms and an employee lunchroom.

The Space is being offered for lease for an initial term of 5 to 10 years starting as early as November 1, 2019. Respondents can request in their proposal renewal options for a period not to exceed, in the aggregate, an additional 10 years. In total, the initial term and all renewal term(s) may not exceed 15 years. The lease will be triple net, requiring the selected Respondent to be responsible for all costs associated with Unit A. These costs include, but are not limited to, insurance, utilities, ongoing maintenance, and security. NYCEDC prefers an annual lease payment escalation of at least 3 percent (compounded annually) over the Initial Term and the Renewal Term. The proposed lease payments will be evaluated against an appraisal commissioned by NYCEDC and paid for by the selected Respondent. The Renewal Term rent will be the greater of an updated appraised value or the then current Base Rent being paid, as annually escalated.

NYCEDC plans to select a commercial retail tenant on the basis of factors stated in the RFP which include, but are not limited to: readiness of a Respondent to enter into a Lease; economic proposal , including rent and any other factors contributing to financial return for the life of the Lease; economic and social return to the City; proposals that maximize participation in the applicable programs; Respondent’s financial resources, qualifications, and experience; proposed use and conformance with zoning laws and limitations encompassed in the RFP.

It is the policy of NYCEDC to comply with all federal, state and City laws and regulations which prohibit unlawful discrimination because of race, creed, color, national origin, sex, age, disability, marital status and other protected category and to take affirmative action in working with contracting parties to ensure certified Minority and Women-owned Business Enterprises (MWBEs) share in the economic opportunities generated by NYCEDC’s projects and initiatives.

This project has Minority and Women Owned Business Enterprise (“M/WBE”) participation goals, and all respondents will be required, if applicable, to submit an M/WBE Participation Plan with their response. To learn more about NYCEDC’s M/WBE

program, visit For the list of companies who have been certified with the New York City Department of Small Business Services as M/WBE, please go to the

NYCEDC established the Kick Start Loan programs for Minority, Women and Disadvantaged Business Enterprise (M/W/DBE) interested in working on public construction projects. Kick Start Loans facilitates financing for short-term mobilization needs such as insurance, labor, supplies and equipment. Bidders/subcontractors are strongly encouraged to visit the NYCEDC website at to learn more about the program.

Respondents may submit questions and/or request clarifications from NYCEDC no later than 5:00 p.m. on Friday, April 20, 2018. Questions regarding the subject matter of this RFP should be directed to For all questions that do not pertain to the subject matter of this RFP please contact NYCEDC’s Contracts Hotline at (212) 312-3969. Answers to all questions will be posted by Friday, April 27, 2018, to

The RFP is available for in-person pick-up between 9:30 a.m. and 4:30 p.m., Monday through Friday, from NYCEDC. Please submit five (5) sets of your proposal to: NYCEDC, Attention: Maryann Catalano, Chief Contracting Officer, Contracts.

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