New York retail lease agreement template

New York Retail Lease Agreement

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

1. Premises

The Landlord leases to the Tenant, and the Tenant leases from the Landlord, the premises located at [Property Address], New York, consisting of [Description of Premises - e.g., ground floor retail space], being approximately [Square Footage] square feet (the "Premises"), and designated as Tax Lot [Tax Lot Number], Block [Block Number] on the tax map of the City of New York.

The Premises includes [Specific inclusions such as basement storage, mezzanine level], and the right to use [Specify loading dock, service entrance details].

Tenant shall have the right to install and maintain signage as follows: [Describe Permitted Signage].

2. Permitted Use

The Premises shall be used solely for the operation of a [Specific Retail Use, e.g., apparel store, restaurant].

The Tenant shall not use the Premises for any other purpose without the Landlord’s prior written consent.

The Tenant shall comply with all applicable zoning laws, codes, and regulations, including but not limited to the Certificate of Occupancy for the building and all New York City and local ordinances.

The Tenant acknowledges that the Landlord makes no representation or warranty as to the suitability of the Premises for the Tenant’s intended use and that it is Tenant's sole responsibility to ensure compliance.

The Tenant shall not use the Premises for any of the following prohibited uses: [List of Prohibited Uses, e.g., adult entertainment, gambling].

3. Lease Term

The term of this Lease shall commence on [Commencement Date] and expire on [Expiration Date], unless sooner terminated as provided herein.

Tenant shall have the option to renew this Lease for [Number] additional term(s) of [Length of Renewal Term] each, provided that Tenant gives Landlord written notice of its intent to renew at least [Number] months prior to the expiration of the then-current term.

The renewal rent for each renewal term shall be the then-prevailing market rent for comparable retail space in the vicinity, as determined by [Method of Determining Market Rent].

If Tenant remains in possession of the Premises after the expiration of the Lease term without a written agreement, such holdover shall be deemed a month-to-month tenancy, subject to all the terms and conditions of this Lease, except that the monthly rent shall be [Percentage]% of the then-current monthly rent.

4. Rent

The base rent for the Premises shall be [Dollar Amount] per year, payable in equal monthly installments of [Dollar Amount], due on the [Day] day of each month, commencing on [Rent Commencement Date].

In addition to the base rent, Tenant shall pay New York State and New York City sales tax, if applicable, on the rent.

In addition to the base rent, Tenant shall pay New York City commercial rent tax, if applicable.

The rent shall escalate as follows: [Rent Escalation Clause - e.g., CPI adjustment, fixed percentage increase].

5. Security Deposit

The Tenant shall deposit with the Landlord a security deposit of [Dollar Amount], which shall be held by Landlord in an escrow account at a New York bank in accordance with General Obligations Law § 7-103.

The security deposit may be used by the Landlord to cover any damages to the Premises caused by the Tenant, unpaid rent, or any other breach of this Lease.

Upon the expiration or termination of this Lease, provided that the Tenant has fully complied with all the terms and conditions of this Lease, the Landlord shall return the security deposit, less any deductions, to the Tenant, along with any interest earned thereon as required by law.

6. Additional Rent

In addition to the base rent, the Tenant shall pay as additional rent its proportionate share of the following expenses:

Real estate taxes.

Common area maintenance (CAM) charges, including but not limited to cleaning, landscaping, and repairs.

Insurance premiums for the building.

Water and sewer charges.

Trash removal.

Tenant’s proportionate share of such expenses shall be [Percentage]% of the total expenses.

7. Utilities

The Tenant shall be responsible for the payment of all utilities separately metered to the Premises, including but not limited to electricity, gas, and water.

Tenant shall comply with all applicable NYC Local Laws regarding energy efficiency.

Tenant is responsible for maintaining and repairing [Specific Tenant Equipment - e.g., HVAC specific to tenant use].

Landlord is responsible for maintaining and repairing [Specific Tenant Equipment - e.g., HVAC specific to tenant use].

8. Alterations and Improvements

The Tenant shall not make any alterations or improvements to the Premises without the Landlord’s prior written consent, which consent shall not be unreasonably withheld.

All alterations and improvements made by the Tenant shall become the property of the Landlord upon the expiration or termination of this Lease, unless otherwise agreed in writing.

The Tenant shall be responsible for obtaining all necessary permits and approvals for any alterations or improvements.

The Tenant shall provide the Landlord with copies of all plans and specifications for any alterations or improvements for the Landlord's approval.

9. Maintenance and Repair

The Tenant shall be responsible for maintaining the Premises in good condition and repair, including but not limited to routine cleaning and maintenance.

The Landlord shall be responsible for maintaining the structural elements of the building, including the roof and exterior walls.

The Tenant shall promptly notify the Landlord of any needed repairs, and the Landlord shall make such repairs within a reasonable time.

10. Insurance

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

The Landlord shall maintain property insurance on the building.

Each party shall waive any right of subrogation against the other party.

11. Compliance with Laws

The Tenant shall comply with all applicable laws, rules, and regulations, including but not limited to the Americans with Disabilities Act (ADA), the New York City Human Rights Law, and all applicable building codes.

12. Fire, Casualty, and Condemnation

If the Premises are damaged by fire or other casualty, the rent shall abate until the Premises are restored to a tenantable condition.

If the Premises are rendered untenantable, the Tenant shall have the right to terminate this Lease.

If the Premises are taken by eminent domain, this Lease shall terminate.

13. Use Restrictions

The Tenant shall comply with the following use restrictions: [List Use Restrictions, e.g., window display requirements, hours of operation, noise levels].

14. Building Rules and Regulations

The Tenant shall comply with all building rules and regulations established by the Landlord from time to time.

15. Signage

The Tenant shall have the right to install signage on the Premises, subject to the Landlord’s approval and all applicable laws and regulations.

All signage shall be removed by the Tenant upon the expiration or termination of this Lease.

16. Default

If the Tenant fails to pay rent when due, or breaches any other material term of this Lease, the Landlord may terminate this Lease after providing the Tenant with written notice and an opportunity to cure the default.

Upon termination of this Lease, the Landlord may re-enter the Premises and relet it to another tenant.

17. Remedies

The Landlord shall have all remedies available at law or in equity for any breach of this Lease by the Tenant, including but not limited to eviction proceedings pursuant to the Real Property Actions and Proceedings Law (RPAPL).

Tenant waives any rights to a Yellowstone Injunction.

18. Dispute Resolution

Any dispute arising out of or relating to this Lease shall be resolved by [Dispute Resolution Method, e.g., mediation, arbitration] in New York County, New York.

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

19. Notices

All notices required or permitted under this Lease shall be in writing and shall be deemed to be duly given when personally delivered, sent by certified mail, return receipt requested, or sent by a nationally recognized overnight courier service, to the addresses set forth above.

20. Assignment and Subletting

The Tenant shall not assign this Lease or sublet the Premises without the Landlord’s prior written consent, which consent may be withheld in Landlord’s sole discretion, per New York Real Property Law.

21. Entire Agreement

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

22. No Waiver

No waiver of any provision of this Lease shall be effective unless in writing and signed by the waiving party.

23. Severability

If any provision of this Lease is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

24. Force Majeure

Neither party shall be liable for any failure to perform its obligations under this Lease if such failure is caused by a force majeure event, such as a natural disaster, act of war, or government regulation.

25. Surrender of Premises

Upon the expiration or termination of this Lease, the Tenant shall surrender the Premises in good condition and repair, reasonable wear and tear excepted, and shall remove all of its personal property.

26. Quiet Enjoyment

Landlord covenants that Tenant, upon paying the rent and performing the covenants of this Lease, shall peaceably and quietly have, hold, and enjoy the Premises for the term of this Lease.

27. Merchant Association/Business Improvement District

Tenant shall be responsible for all dues and assessments levied by any merchant association or business improvement district (BID) applicable to the Premises.

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

____________________________

[Landlord Name]

____________________________

[Tenant Name]