Accessibility questions: DisabilityAffairs@mocs.nyc.gov, by Tuesday, July 6, 2021 4:00 PM
New York City Economic Development Corporation on behalf of
New York City Department of Small Business Services
NOTICE IS HEREBY GIVEN THAT A REAL PROPERTY ACQUISITIONS AND DISPOSITIONS PUBLIC HEARING WILL BE HELD ON JULY 14, 2021, in accordance with Section 1301(2)(g) of the New York City Charter, commencing at 10:00 a.m. via Conference Call No. 1-646-992-2010, Access Code 717-876-299, in the matter of a proposed lease amendment as submitted by the New York City Economic Development Corporation (“NYCEDC”) on behalf of the New York City Department of Small Business Services for the lease between the City of New York acting through its Department of Small Business Services, as Landlord, to Piers 92/94 LLC, as Tenant, for the premises comprised of the Pier 92 Premises and the Pier 94 Premises (the “Premises”) in the borough of Manhattan (the “Lease”). NYCEDC is the Lease Administrator of the Lease pursuant to Section 2.01of the Maritime Contract between the City and NYCEDC, dated as of June 30, 2020, as amended from time to time, (the “Maritime Contract”).
The proposed amendment is to allow for an automatic early expiration of the Lease (i) on December 31, 2021, as such date may be extended upon mutual agreement, if a term sheet for an amended and restated lease (“Amended and Restated Lease Term Sheet”) is not entered into by December 31, 2021 or (ii) on an outside date for the execution of the amended and restated lease to be provided for in the Amended and Restated Lease Term Sheet (“Amended and Restated Lease Outside Date”), if the Amended and Restated Lease Term Sheet is executed but the amended and restated lease is not executed by such Amended and Restated Lease Outside Date. Base rent is to be adjusted from the effective date of the proposed amendment through December 31, 2021, to total $1,000,000, paid in equal monthly installments. If the Lease remains in full force and effect on January 1, 2022, base rent shall be further adjusted to $83,333.34 per month through the period in which an amended and restated lease is executed or earlier expiration or termination of the Lease. Tenant will have no obligations to maintain or repair the Pier 92 Premises through the duration of the proposed amendment. The proposed amendment also contemplates one or more mutual releases of claims.
A draft copy of the proposed amendment of Lease will be available for inspection at New York City Economic Development Corporation, One Liberty Plaza, New York, New York 10006, commencing June 14, 2021 through July 14, 2021, exclusive of Saturdays, Sundays and Holidays, between the hours of 10:00 a.m. and 2:00 p.m. To schedule an inspection, please contact Bianca Sosa at (212) 312-3621.
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.