New York office lease agreement template

New York Office Lease Agreement

This New York Office Lease Agreement (the "Lease") is made and entered into as of [Date] by and between [Landlord's Full Legal Name], residing at [Landlord's Address] ("Landlord"), and [Tenant's Full Legal Name], residing at [Tenant's Address] ("Tenant").

1. Premises

The Landlord leases to the Tenant, and the Tenant leases from the Landlord, the premises (the "Premises") located at [Street Address], Suite/Floor [Suite/Floor Number], in the building known as [Building Name], Borough of [Borough], Tax Lot [Tax Lot Number], Block [Block Number], New York, New York [Zip Code]. The Premises consists of approximately [Square Footage] rentable square feet as measured by [Measurement Standard, e.g., BOMA standards]. The New York City parcel identifier for the Premises is [Parcel Identifier].

Tenant shall have the right to ingress and egress to the Premises.

The Tenant will have access to the following common areas: [List of common areas, e.g., lobby, elevators, restrooms].

The Tenant will have exclusive use of the following spaces: [List of exclusive-use spaces].

Building amenities available to the Tenant include: [List of building amenities, e.g., meeting rooms, security, HVAC, connectivity infrastructure].

2. Use

The Premises shall be used solely for general commercial office purposes.

Option A: The Tenant is authorized to use the premises for [Specific commercial purpose].

Option B: The Tenant is authorized to use the premises for any legal use that is commercially suitable for Class A office space in Manhattan.

The Tenant shall not use the Premises for residential purposes or for any industrial activities.

Tenant represents and warrants that its use of the Premises shall comply with all applicable building rules, local laws (including the New York City Administrative Code), zoning ordinances, and any owners' association or other locally relevant rules.

3. Term

The term of this Lease shall commence on [Start Date] and expire on [End Date].

The lease year shall run from [Month, Day] to [Month, Day] of each year.

Option A: Renewal Option

Tenant shall have the option to renew this Lease for [Number] additional term(s) of [Number] years each.

To exercise the renewal option, Tenant shall provide Landlord with written notice at least [Number] months but not more than [Number] months prior to the expiration of the then-current term.

Option B: No Renewal Option

This Lease shall not be subject to automatic renewal, the agreement will terminate on [End Date].

Early Termination: [Outline any early termination or "good-guy" guarantee provisions].

4. Rent

The base rent for the Premises shall be [Dollar Amount] per year, payable in equal monthly installments of [Dollar Amount].

The rent commencement date shall be [Date].

Additional Rent:

Option A: Escalation Clause - The base rent shall increase annually based on the Consumer Price Index (CPI) for All Urban Consumers (CPI-U) for the New York-Newark-Jersey City, NY-NJ-PA metropolitan area.

Option B: Operating Expense Pass-Through - Tenant shall pay its proportionate share of operating expenses and real estate taxes for the Building. Tenant's proportionate share is [Percentage]%.

Billing and Payment:

Rent shall be billed [Monthly/Quarterly] and is due on the [Day] of each [Month/Quarter].

Payments shall be made to [Landlord's Name/Property Management Company Name] at [Payment Address] or via electronic funds transfer to [Bank Name, Account Number, Routing Number].

Acceptable forms of payment: [List acceptable payment forms, e.g., check, wire transfer].

Late Fees:

A late fee of [Dollar Amount or Percentage] shall be charged for any rent payment received more than [Number] days after the due date.

Interest shall accrue on past due amounts at a rate of [Percentage]% per annum, not to exceed the maximum rate permitted by New York law.

Security Deposit:

Tenant shall deposit with Landlord a security deposit in the amount of [Dollar Amount].

Landlord shall hold the security deposit in compliance with New York General Obligations Law.

The security deposit shall be returned to Tenant within [Number] days after the expiration or termination of this Lease, less any deductions for damages to the Premises or unpaid rent.

5. Building Management, CAM, and Utilities

Building Management Fees: [Specify who pays building management fees].

CAM Charges: Tenant shall pay its proportionate share of Common Area Maintenance (CAM) charges. The CAM charges will be assessed [Monthly/Quarterly/Annually].

Real Estate Tax Escalation: [Outline tax escalation clause, including Tenant's proportionate share].

Utilities:

Option A: Submetering - Tenant shall pay directly for utilities consumed at the premises according to submeter measurements. Tenant will comply with New York energy regulations.

Option B: Included - Landlord shall provide water, electricity, and standard janitorial services. Tenant is responsible for its own internet and telephone service.

Overtime HVAC: [Specify charges for overtime HVAC services].

Capital Improvement Pass-Throughs: [Specify if capital improvement costs are passed through to Tenant].

Rules for Adjusting Charges: [Outline rules for adjusting charges based on occupancy].

6. Alterations and Improvements

Tenant shall not make any alterations or improvements to the Premises without the prior written consent of Landlord.

All alterations and improvements shall be performed in compliance with all applicable laws, including Local Law 26 (fire safety) and Local Law 11 (façade inspections), and shall be subject to Landlord's approval.

Tenant is responsible for securing all necessary permits from the NYC Department of Buildings (DOB).

Union and prevailing wage considerations: [Specify requirements for union labor or prevailing wages if applicable].

Restoration: Upon the expiration or termination of this Lease, Tenant shall [Restore the Premises to its original condition/Remove all alterations and improvements], unless otherwise agreed in writing by Landlord.

7. Repair and Maintenance

Landlord shall be responsible for the repair and maintenance of the structural elements of the Building, including the roof, exterior walls, and building systems.

Tenant shall be responsible for the repair and maintenance of the interior of the Premises, including fixtures and equipment.

Tenant shall promptly notify Landlord of any necessary repairs.

Landlord shall have the right to access the Premises for inspection and repair, subject to reasonable notice and in compliance with New York privacy statutes.

8. Insurance

Tenant shall maintain commercial general liability insurance with minimum limits of [Dollar Amount] per occurrence and [Dollar Amount] in the aggregate, naming Landlord as an additional insured. Tenant shall provide Landlord with a certificate of insurance evidencing such coverage.

Landlord shall maintain property insurance for the Building.

Waiver of Subrogation: To the extent permitted by law, Landlord and Tenant waive all rights of subrogation against each other for any loss or damage covered by insurance.

9. Accessibility

Landlord represents that the premises are in compliance with ADA and local accessibility laws.

Exception: [Note specific carve-outs for "grandfathered" buildings as allowed by local code].

10. Fire Safety and Emergency Response

Landlord shall maintain the building's life safety systems in compliance with Local Laws 5 and 26.

Tenant shall comply with all fire safety and emergency response procedures, including participation in evacuation drills.

Tenant must provide Landlord with a list of all employees working within the premises in case of an emergency.

11. Assignment and Subletting

Tenant shall not assign this Lease or sublet the Premises without the prior written consent of Landlord.

Landlord's consent shall not be unreasonably withheld, conditioned, or delayed, as defined by New York Real Property Law.

[Include "good-guy" guarantee language as per local market custom].

12. Representations and Warranties

Landlord and Tenant each represent and warrant that they have the full right, power, and authority to enter into this Lease.

Landlord represents and warrants that the Premises are free from hazardous materials and in compliance with all applicable environmental laws.

13. Move-In and Move-Out

Move-In: Tenant's move-in and buildout timeline is [Number] days from the date of agreement execution. Tenant must evidence required insurance and deposit before occupancy.

Move-Out: Tenant shall surrender the Premises in broom-clean condition, reasonable wear and tear excepted. Landlord and Tenant will complete a joint inspection and punchlist prior to move-out. Tenant must remove all personal property. Abandoned property will be disposed of at Tenant's expense.

14. Security Deposit Return

Landlord shall return the security deposit to Tenant within [Number] days after the expiration or termination of this Lease, less any deductions for damages to the Premises or unpaid rent, in compliance with New York statutes.

Upon the sale of the property, Landlord may transfer the security deposit to the new owner and shall notify Tenant of such transfer.

15. Default

If Tenant fails to pay rent when due or otherwise breaches this Lease, Landlord shall provide Tenant with written notice of default and a [Number]-day cure period.

If Tenant fails to cure the default within the cure period, Landlord may pursue all available remedies, including eviction pursuant to New York Real Property Actions and Proceedings Law.

Landlord's self-help rights are limited by New York law.

Tenant shall not have the right to offset or abate rent except as permitted by New York law.

16. Dispute Resolution

This Lease shall be governed by and construed in accordance with the laws of the State of New York.

Any legal action arising out of or relating to this Lease shall be brought in the state or federal courts located in [County Name], New York.

Landlord and Tenant waive their right to a jury trial in any action arising out of or relating to this Lease.

17. Relocation

Option A: Landlord's Right to Relocate.

Landlord shall have the right to relocate Tenant to a comparable space within the Building, provided that Landlord pays for all reasonable expenses associated with the relocation.

Option B: No Relocation.

Landlord does not have the right to relocate the tenant from the leased premises.

18. Signage

Tenant's signage shall comply with all applicable laws and Landlord's building standards.

19. Subordination, Nondisturbance, and Attornment

This Lease shall be subordinate to any mortgage or deed of trust encumbering the Building.

Landlord shall provide Tenant with a nondisturbance agreement from any mortgagee.

Tenant shall attorn to any successor owner of the Building.

20. Estoppel Certificate

Tenant shall execute and deliver to Landlord an estoppel certificate within [Number] days of Landlord's request.

21. Compliance with Laws

Landlord and Tenant shall comply with all applicable laws, rules, and regulations, including New York Real Property Law §223-a (retaliatory eviction) and Real Property Law §231 (use restrictions).

Tenant shall be responsible for obtaining all necessary business licenses and permits.

The premises must meet the New York City "certificate of occupancy" standards.

22. Indemnification and Liability

Tenant shall indemnify and hold Landlord harmless from any and all claims, damages, and liabilities arising out of Tenant's use of the Premises.

Landlord shall not be liable for any loss or damage to Tenant's property, except to the extent caused by Landlord's gross negligence or willful misconduct.

23. Notices

All notices under this Lease shall be in writing and shall be deemed to have been duly given when delivered personally, sent by certified mail, return receipt requested, or sent by reputable overnight courier to the addresses set forth above.

24. Brokerage

[Broker's Name] represents [Landlord/Tenant/Both] in this transaction. The commission shall be paid by [Landlord/Tenant] pursuant to a separate agreement.

25. Taxes

Tenant shall be responsible for all applicable taxes, including New York City Commercial Rent Tax, if applicable.

26. Environmental Matters

Tenant shall comply with all applicable environmental laws, including those relating to lead paint, asbestos, and PCBs.

27. Entire Agreement

This Lease constitutes the entire agreement between the parties and supersedes all prior or contemporaneous communications and proposals, whether oral or written.

No amendment or waiver of any provision of this Lease shall be effective unless in writing and signed by both parties.

IN WITNESS WHEREOF, the parties have executed this Lease as of the date first written above.

____________________________

[Landlord's Signature]

[Landlord's Printed Name]

____________________________

[Tenant's Signature]

[Tenant's Printed Name]