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 27, 2026 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, for the entire building and parking area located at 1155/57 Commerce Avenue (Block 3840 & Lot 23) in the Borough of the Bronx for the Department of Sanitation to use as warehouse and parking, or for such other use as the Commissioner of the Department of Citywide Administrative Services may determine, subject to the terms and conditions set forth in the lease.
The proposed use was approved by the City Planning Commission pursuant to NYC Charter Section 197c on September 11, 2019 (CPC Appl. No. C 190426 PCX, Public Hearing Cal. No. 1).
The term of the proposed lease shall commence upon the earlier of lease execution and October 1, 2026, as more specifically set forth in the lease. The term of the proposed lease shall expire on September 30, 2033. The annual base rent is $306,000.00 from the commencement date through September 30, 2026; $700,000.00 from October 1, 2026 through September 30, 2031; and $805,000.00 from October 1, 2031 through September 30, 2033. Base rent is payable in equal monthly installments at the end of each month.
The tenant shall have the right to renew the lease for one (1) year at an annual base rent of $925,750.00, upon twelve (12) months’ prior written notice to the landlord, all as more specifically set forth in the lease.
The landlord shall make alterations and improvements in accordance with the architectural plans and specifications which are attached to the lease. The alterations and improvements consist of Landlord Work (i.e., base building work), which the landlord shall provide at its sole cost and expense, and Tenant Work. Upon substantial completion of the alterations and improvements, the Tenant shall reimburse the Landlord for the costs the Tenant Work and all associated design costs, which shall not exceed $1,158,808.00, all as more specifically set forth in the lease.
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.