NYC 9/11 Public Portal Document
Abstract ofRecommended Property
Lease Abstract
ANTS NO.: 96-1346 DATE: February 20, 1998
NEGOTIATOR: JeffKondrat (CB Commercial) LEASE-IN NO.: 2841
ATTORNEY: Jason Cutler
AGENCY: Mayor’s OfiHce of Emergency Management
Program Need: Provide the on-scene coordination at all emergency incidents that require a multi-agency
response. Coordinate all planning efforts for threats to New York City, natural,
technological or man made.
# of Employees: 45
PROPOSED LOCATION: 7 World Trade Center Block & Lot: 84/36
Borough: Manhattan Floor: 23&Pt7
Neighborhood Downtown
TERM; Commencement upon execution to 1/31/2018.
Termination of Lease: City has the right to cancel after ten (10) years upon nineteen (18) months’ notice.
Penalty: If tenant terminates lease, tenant shall pay the landlord the unamortized portion of and
brokerage commission.
SPACE: 50,065 rentable square feet of space on the entire 23"* floor & part of 7**’ floor.
Rentable, Usable, and Carpetable not yet calculated. Landlord has agreed to use the
City’s rentable but the aggregate rental will not change.
BASE RENT PROPOSED: Negotiated Asking
Gross Per Annum PSFPer Aimum
1/1/1999-12/31/2003 $1,401,820.00 $28.00 Years 1-5 $33.OO/RSF
1/1/2004-12/31/2008 $1,752,275.00 $35.00 Years 6 -10 $35.00/RSF
1/1/2009-12/31/2013 $1,852,405.00 $37.00 Years 11-15 $38.OO/RSF
1/1/2014- 1/31/2018 $2,102,730.00 $42.00 Years 16 - 20 $41.00/RSF
TOTAL FIRST YEAR ES' ATED COST/SF
Base Rent: $28.00
Real Estate Taxes 0.00
Heating Fuel 0.00
Operating: 0.00
SUBTOTAL $28.00
Electricity: 1.50
TOTAL $29.50
Alteratinn.s and Improvements: Total EST
Total not to exceed amount: $14.287.986.00 $285.39
Landlord contribution: $ 1.661.843.00 $ 33.19
Tenant reimbursement: $12.626.143.00 $25220
Method of tenant reimbursement: Lump Sum in progress payments
Landlord will also contribute architectural and consulting fees which are valued at $591,082 ($11.81 psf)
Landlord’s total contribution valued at $45.00 psf.
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