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 February 26, 2025 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 (the “City”), as Tenant, (i) on the entire 9th, 10th, 12th through 24th floors of the Office Unit of the building located at One United Nations Plaza (Block 1337, Lot 1102), and (ii) part of the 1st floor and mezzanine, portion of the 25th floor, and the entire 2nd through 24th floors and entire 26th floor, plus part of the basement, of the building located at the Two United Nations Plaza (Block 1337, Lot 14) in the Borough of Manhattan (collectively, the “Leased Premises”), for offices for agencies of the City of New York, or for such other uses as the Commissioner of the Department of Citywide Administrative Services may determine, subject to the terms and conditions of the lease.
The proposed use was approved by the City Planning Commission pursuant to NYC Charter section 195 on May 7, 2003 (CPC Appl. No. N 030417 PXM, Public Hearing Cal. No. 23).
The proposed lease shall be for a period of fifteen (15) years with two (2) options to renew the lease for periods of five (5) years each and shall commence when the United Nations (the “UN”) and/or United Nations Development Programme (“UNDP”) lease is terminated with respect to such Leased Premises or portions thereof due to: (i) either the UN or UNDP electing to surrender and vacate up to 2-3 contiguous floors of the Leased Premises between the 5th and 8th anniversaries as set forth in the lease, or (ii) the UN and/or UNDP electing not to exercise any renewal option with respect to the Leased Premises, or (iii) the UN and UNDP terminating all or a portion of the Leased Premises under its lease in accordance with the provisions set forth in such lease. In addition, the proposed lease shall commence on the date on which leased space becomes available for occupancy and the UN and/or UNDP fail to timely exercise its option under its lease to expand its Leased Premises or fails to expand its Leased Premises to all available premises pursuant to any right of first offer as described in the lease.
For One United Nations Plaza, the annual base rent shall be $12,949,563 per annum from years 1 through 5, $14,219,128 per annum from years 6 through 10, and $15,488,693 per annum from years 11 through 15. Should Tenant exercise its renewal options, the annual base rent for the first option at One United Nations Plaza would be $16,758,258 per annum and the second renewal option would be at the then Fair Market Value.
For Two United Nations Plaza, the annual base rent shall be $21,944,280 per annum from years 1 through 5, $24,095,680 per annum from years 6 through 10, and $26,247,080 per annum from years 11 through 15. Should Tenant exercise its renewal options, the annual base rent for the first renewal option at Two United Nations Plaza would be $28,398,480 per annum and the second renewal option would be at the then Fair Market Value.
The Tenant shall have a right to expand the Leased Premises at the corresponding rental rates then in effect at One United Nations Plaza and Two United Nations Plaza, respectively.
Landlord shall, upon the request of Tenant, prepare final architectural and engineering plans and make alterations and improvements. The Tenant shall reimburse the Landlord for the costs of said plans and 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.