NYC 9/11 Public Portal Document
1. Initial Premises; The building is pleased to offer the entire 23rd floor for the Mayor’s Office
of Emergency Management’s initial requirement. The floor measures
45,815 rentable square feet. We are awaiting Tenant’s architect’s
measurements.
2. Lease Term: Twenty (20) years.
3. Occupancy Date: The space is currently vacant and available for immediate commencement
of construction. Target occupancy date is on or about January 1, 1998.
4. Use; Executive, administrative and general offices.
5. Base Rent: $28.00 per rentable square foot; years 1-5
$35.00 per rentable square foot; years 6-10
$37.00 per rentable square foot; years 11-15
$42.00 per rentable square foot; years 16-20
6. Rental Concessions: Landlord will provide a rent abatement of fourteen (14) months including
Tenant’s construction time for a normal office installation. Tenant will pay
for electricity, escalations (if any) and any other miscellaneous expenses it
incurs during free rent period.
7. Escalations: Tenant shall pay its proportionate share of the increa^in direct operating
expenses over a base year ending December 31, 1997. Operating expenses
would be calculated based on a stabilized occupancy.
Tenant shall pay its proportionate share the increase in P.I.L.O.T.
payments over a fiscal 1997/1998 base year. Landlord will endeavor to
obtain a waiver of P.I.L.O.T. payments from the Port Authority for this
tenant. If obtained, the base rent will be reduced by the amounts so
waived.
Exhibit A contains an itemized detail of the past three years of operating
expenses and P.I.L.O.T. payments.
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NYC-WTC_000170883
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