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 May 14, 2025 at 10:00 a.m. via Conference Call No. 1-646-992-2010, Access Code 717 876 299.
IN THE MATTER of a renewal and amendment of the lease for the City of New York, as tenant, on part of the 2nd floor of the building located at 43-22 50th Street (Block 138 & Lot 40) in the Borough of Queens for Community Board 2 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 September 22, 1993 (CPC Appl. No. N 940079 PXQ, Public Hearing Cal. No.18).
The proposed renewal and amendment of the lease shall be for a period commencing upon execution and expiring ten (10) years from execution at an annual rent of $69,300.00 from execution until Substantial Completion, then $81,045.00 from Substantial Completion through the first year following execution, $82,395.75 for the second year following execution, $83,746.50 for the third year following execution, $85,421.43 for the fourth year following execution, $87,129.86 for the fifth year following execution, $88,872.46 for the sixth year following execution, $90,649.90 for the seventh year following execution, $92,462.90 for the eighth year following execution, $94,312.16 for the ninth year following execution and $96,198.40 for the last year, payable in equal monthly installments at the end of each month. Upon Substantial Completion of the alterations and improvements, Tenant will make a lump sum payment in an amount equal to the number of days between execution and Substantial Completion multiplied by $32.18 per diem which represents the rent differential between execution and Substantial Completion.
The Tenant shall have the right to renew the lease for two (2) periods of five (5) years each at an annual rent of 90% of the Fair Market Value.
The Landlord shall make alterations and improvements. The alterations and improvements consist of Base Building Work, which the Landlord shall provide at its sole cost and expense.
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.