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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 December 22nd 2020 at 10:00 a.m. via Conference Call No. 1-646-992-2010, Access Code 173 508 3809.
IN THE MATTER OF a lease for the City of New York, as tenant, of space on part of the 7th floor of the building located at 16 Court Street (Block 250, Lot 44) in the Borough of Brooklyn for the Department of City Planning 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 $442,527.00 for the first five (5) years from rent commencement, $485,912.00 for the following five (5) years, $529,297.00 for the following five (5) years and $572,682.00 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, effective as of the 10th anniversary of the rent commencement date or at any time thereafter, provided the tenant gives the Landlord twelve (12) 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 total cost of the final architectural plans and engineering plans for the Tenant Work and the Tenant Work shall not exceed $1,082,937.00, of which the Landlord shall contribute $433,850.00 and the balance up to $649,087.00 will be paid by the Tenant. The Tenant shall reimburse the Landlord for Tenant’s share of the costs upon the substantial completion of the alterations and improvements.
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/Translators 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 TEN (10) BUSINESS DAYS PRIOR TO THE PUBLIC HEARING. TDD users should call VERIZON relay services.