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 9th, 2020 at 10:00 a.m. via Conference Call No. 1-646-992-2010, Access Code 717-876-299.
IN THE MATTER OF a lease for the City of New York, as tenant, of space on part of the 15th floor and the entire 16th floor of the building located at 16 Court Street (Block 250, Lot 44) in the Borough of Brooklyn for the Department of Transportation to use as an office, or for such other use as the Commissioner of the Department of Citywide Administrative Services may determine, subject to exclusions set forth in the lease.
The proposed lease shall be for a period of twenty (20) years from rent commencement. Rent shall commence eight (8) months following the substantial completion of alterations and improvements. The base annual rent shall be $963,300.00 for the first five (5) years from rent commencement, $1,055,925.00 for the following five (5) years, $1,148,550.00 for the following five (5) years and $1,241,175 for the last five (5) years, payable in equal monthly installments at the end of each month.
The lease may be terminated by the tenant in whole, or in part with respect to either the partial 15th floor premises or the entire 16th floor premises only, effective as of the 5th anniversary of the rent commencement date or at any time thereafter, provided the tenant gives the Landlord eighteen (18) months’ prior written notice. In the event the lease is terminated by the tenant, the tenant shall pay to the landlord the unamortized portion of the landlord’s contribution, all as more specifically set forth in the lease.
The tenant shall have the right to renew the lease for a period of five (5) years at 95% of 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, and tenant work. The landlord shall contribute $926,250, and if any of Landlord’s contribution is not used for the tenant work, the tenant shall receive a rent credit in the amount of the difference between the landlord’s contribution and the final cost of the tenant work, all as more specifically set forth in the lease.
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 (917) 968-8345.
In order to access the Public Hearing and testify, please call 1-646-992-2010, Access Code:
717-876-299 no later than 9:55 AM. If you need further accommodations, please let us know
at least five business days in advance of the Public Hearing via e-mail at DisabilityAffairs@mocs.nyc.gov.
IN THE MATTER OF a renewal of the lease for the City of New York, as tenant, constituting the entire 3rd floor space of 75-01 Broadway in the Borough of Queens (Block 1486, Lot 13) for the Department For The Aging, to use as a senior center, or for such other use as the Commissioner of the Department of Citywide Administrative Services may determine.
The proposed renewal of lease shall be from Lease Execution to the fifteen (15th) anniversary date of Substantial Completion of alterations and improvements at an annual rent of from Lease Execution to Substantial Completion of $728,000.00, $877,500.00 from Substantial Completion to year five, $957,000.00 for the following five (5) years, and $1,044,450.00 for the last five (5) years, payable in equal monthly installments at the end of each month.
The renewal of the lease may be terminated by the Tenant at any time after the fifth (5th) year, or at any time thereafter, provided the Tenant gives the Landlord one hundred eighty (180) days prior written notice. In the event that the lease is terminated by the Tenant, the Tenant shall pay to the Landlord the unamortized portion of Landlord’s cost for the alterations and improvements.
The Tenant shall have the right to renew the lease for a period of five (5) years at an annual rent at ninety percent (90%) of the Fair Market Value Rental, but no lower than most recent Base Rent plus ten percent (10%) escalation.
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.
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 (917) 968-8345.
In order to access the Public Hearing and testify, please call 1-646-992-2010, Access Code:
717-876-299 no later than 9:55 AM. If you need further accommodations, please let us know
at least five business days in advance of the Public Hearing via e-mail at DisabilityAffairs@mocs.nyc.gov.
IN THE MATTER OF a lease for the City of New York, as tenant, on the first and second floors of the building located at 974 Morris Park Avenue (Block 4101, Lot 1) in the Borough of Bronx for the Division of Child Protection unit of Administration for Children’s Services 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 shall be for a period of five (5) years from lease execution, at an annual rent of $382,806.00, increasing by two percent (2%) each July 1 (starting on July 1, 2021), payable in equal monthly installments at the end of each month. Upon Lease execution, Tenant shall pay a lump sum of (i) $51,300.00, representing the delta between (a) $375,300.00 and (b) the amount paid by Tenant under the preexisting license agreement for the period commencing July 1, 2019 and ending June 30, 2020, plus (ii) the delta between (a) $1,048.78 multiplied by the number of days in the period commencing on July 1, 2020 and ending on the day preceding lease execution and (b) the total payments made by Tenant under the preexisting license agreement for the same period.
The lease may be terminated by the Tenant at any time after 8/31/2022 provided the Tenant gives the Landlord 180 days prior written notice. In the event that the lease is terminated by the Tenant, the Tenant shall pay to the Landlord the unamortized portion of $54,000.00 (representing the cost of the landlord’s fit-out work) based on a 60-month amortization schedule.
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 at its sole cost and expense.
Further information, including public inspection of the proposed amendment may be obtained at One Centre Street, Room 2000 North, New York, N.Y. 10007. To schedule an inspection, please contact Chris Fleming at (917) 968-8345.
In order to access the Public Hearing and testify, please call 1-646-992-2010, Access Code:
717-876-299 no later than 9:55 AM. If you need further accommodations, please let us know
at least five business days in advance of the Public Hearing via e-mail at DisabilityAffairs@mocs.nyc.gov.