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 October 9, 2024 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, 3rd floor of the building located at 147 41st Street and 167 41st Street (Block 706 & Lot1) in the Borough of Brooklyn for the Records Management division of Kings Country District Attorney to use as storage, 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 197c on 3/5/97 (CPC Appl. No. 970094, Public Hearing Cal. No. 26).
The proposed lease shall be for a period of twenty (20) years from Substantial Completion of the alterations and improvements, at an annual rent of $1,222,587.50 for the first five (5) years, $1,344,846.25 for the following five (5) years, $1,479,591.00 for the next five (5) years and $1,627,342.00 for the last five (5) years, payable in equal monthly installments at the end of each month. The first 6 months rent following the lease commencement date are abated.
The lease may be terminated by the Tenant, in whole or in part, after the 10th year of the Rent Commencement Date, provided the Tenant gives the Landlord 12 months 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 (i) the Brokerage Commission paid by the Landlord to the Tenant’s broker, (ii) the Landlord’s TI Allowance and cost of design services, and (iii) the Rent Abatement.
The Tenant shall have the right to renew the lease for a period of five (5) years at 95% of fair market 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 $2,733,193.00 of which the Landlord shall contribute $1,024,372.25 and the balance up to $ 1,708,820.75 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 email RESPublicHearingInquiries@dcas.nyc.gov
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.