Abstract of license agreement, 7 World Trade Center, July 1997

NYC 9/11 Public Portal Document

ARC Package

Abstract ofRecommended Property

Licaae Abrtract

ANTS NO.. 96-1346 DATE: July 11,1997 NEGOTIATOR: Jeff Kondrat (CB Commercial) LEASE-IN NO.; 2767 ATTORNEY; Jason Cutler

AGENCY: Mayor’s Office 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. It of Employees; 45

PROPOSED LOCATION: 7 World Trade Center Block & Lot- 84/36 Borough; Manhattan Floor 23 Neighborhood Downtown

3337? icenseT< Open ended. Landlord to contract necessaiy consultant to begin alterations and improvements of space. Lease is scheduled to be executed by the City on or about October 15, 1997. As such there will be no license fee.

Lease Term: 20 years. Commencement upon substantial completion of alterations and improvements of the office and technical areas.

Termination of License; / Mutual right to cancel on 30 days notice.

Termination of Lease; City has the right to cancel after ten (10) years upon nineteen (19) months’ notice.

Penalty: If license is tenninated by tenant, tenant shall pay the landlord the cost of architectural and consultant services (estimated to be up to $500,000). hi addition, if tenant terminates lease, tenant shall pay the landlord the unamortized portion of landlord’s contribution towards alt. & imp. and brokerage commission.

SPACE: 45,815 rentable square feet of space on the 23rd floor plus additional space for back-up systems. 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

23"* FLOOR Gross Per Aimum PSFPer Ammm

Years 1-5 $U82,820.00 + $28.00 Years 1-5 $33.OO/RSF Years 6 -10 $1,603,525.00 $35.00 Years6-10 $35.00/RSF Years 11-15 $1,695,155.00 $37.00 Years 11-15 $38.00/RSF Years 16-20 $1,924,230.00 $42.00 Years 16-20 Ml.OO/RSF

FigeRent: 12 Months* 12 Months

*Provided final plans are completed on lease execution.

+ im; Approximately 14,400 RSF could be needed tn support back up systems. Additional Rent - $403,200 per aimum (initially) H:\SHAREUIOOEMABS.WPD/p. 1

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