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 August 18, 2021 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 the partial 2nd floor and private lobby located at 2100 Bartow Avenue (Block 5141, Lot 810) in the Borough of the Bronx for the New York City 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 use was approved by the City Planning Commission pursuant to NYC Charter Section 195 on July 28, 2021, CPC Appl. No. N 210435 PXX, Public Hearing Cal. No. 28.
The proposed Lease shall be for a period of twenty (20) years and six (6) months from Rent Commencement, at an annual rent of $1,350,000.00 for year one through five, 1,485,000.00 for years six through ten, 1,633,500.00 for years eleven through fifteen, and $1,797,000.00 for year sixteen through Lease Expiration, payable in equal monthly installments at the end of each month. The first 6 months of the Term is free rent.
The Lease may be terminated by the Tenant in whole, one time between the tenth (10th) and eleventh (11th) lease anniversary upon three-hundred and sixty (360) days’ notice. In the event the Lease is terminated by the Tenant, the Tenant shall reimburse the Landlord for the unamortized portion over twenty (20) years of Landlord’s costs applicable to the space terminated for the Landlord’s contribution to the Tenant Work, the Tenant’s Representative’s leasing commissions paid by Landlord, the free rent, and 3 months of the first year’s base rent.
The Tenant shall have the option to renew the Lease for a period of five (5) years at an annual rental of the greater of the then escalated rent or 95% of the 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 total cost of the final architectural plans and engineering plans for the Tenant Work and the Tenant Work shall not exceed $5,697,141, of which the Landlord shall contribute $1,396,500 and the balance up to $4,300,641 will be paid by the Tenant. The Tenant shall reimburse the Landlord for Tenant’s share of the costs, to be disbursed 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, NY. 10007. To schedule an inspection, please contact Chris Fleming, at (917) 968-8345.
If you need further accommodations, please let us know at least five business days in advance of the Public Hearing via email at DisabilityAffairs@mocs.nyc.gov or via phone at 212-298-0734.