Over the last couple of years, there has been a continuing stream of media articles discussing legal and industry trends concerning the conversion of office buildings into residential buildings. For example, in November 2021, Politico ran an expansive, detailed, and interesting article on office-to-residential conversions called “Cities with empty offices see new room to expand […]
Read more...Tag: New York Lease Attorney
NYC Commercial Lease v. License: What is the Difference?
Most have heard of a commercial LEASE concerning New York City real estate. Some may be surprised that one may also obtain a LICENSE concerning real estate. In simple terms, a lease grants possession of the real estate, while a license grants no possession but the right to engage in specific actions (usually of a […]
Read more...My NYC Commercial Lease is Expiring: What Do I Do?
If your NYC commercial lease term is expiring soon, you are not alone. As The Real Deal reports here, upwards of 243 million square feet of office space leases are set to expire during the remainder of 2022 in NYC and elsewhere around the country. Further, it is estimated that leases for another 200 million […]
Read more...Unique Issues for Commercial Leasing in Life Sciences Sector
Last year, according to the Real Deal, records were shattered for the number of New York City commercial spaces leased to businesses and firms in the life sciences sector. According to the report, the square footage surged to more than 433,000 square feet in 2021, nearly triple the space leased in 2020 and more than […]
Read more...Some Basics for Negotiating an NYC Commercial Real Estate Lease
Every lease negotiation is different because every commercial space and potential tenant’s needs are unique. However, there are quite a few “basics” to commercial lease negotiations daily, even though each solution will be unique. An NYC Commercial Real Estate lease is complex. You need to retain a New York attorney with experience in negotiating one. […]
Read more...Negotiating Commercial Lease Common Charges
Both parties should attempt to be as specific as possible when negotiating commercial lease common charges. There is clearly a disparity in the knowledge of these costs. As part of their due diligence, a prospective tenant should request that the landlord provide a detailed history of past lease common charges. Many landlords believe that making […]
Read more...NYC Restaurant Leases, Franchise Agreements & Mall Real Estate Issues
Chain restaurants are going into vacant box-store locations, Home Depot parking lots, and Sears stores as the struggling retail industry reinvents itself in the wake of the recession. The Wall Street Journal reported Darden Restaurants Inc., owner of Red Lobster, Olive Garden, and the Longhorn Steakhouse, has been opening Olive Gardens in closed supermarkets and […]
Read more...