NOTICE IS HEREBY GIVEN THAT A REAL PROPERTY ACQUISITIONS AND DISPOSITIONS PUBLIC HEARING, in accordance with Section 824 of the New York City Charter, will be held on July 13, 2022 at 10:00 a.m. via Conference Call No. 1-646-992-2010, Access Code 717 876 299.
IN THE MATTER OF a renewal of the lease for the City of New York, as tenant, on the ground floor of the building located at 435 Graham Avenue (Block 2734 & Lot 27) in the Borough of Brooklyn for Community Board #1 use as an office, or for such other use as the Commissioner of the Department of Citywide Administrative Services may determine.
The proposed use was approved by the City Planning Commission pursuant to NYC Charter Section 195 on February 16, 1994 (CPC Appl. No. 940330 PKX, Public Hearing Cal. No. 22).
The proposed renewal of the lease shall be for a period of twenty (20) years from Lease Execution. The rent from Lease Execution to Substantial Completion shall be $66,380.70, from Substantial Completion to Year 5 will be an annual rent of $87,642.00, $96,406.20 for Year 5 to Year 10, $106,046.10 for Year 11 to Year 15, and $116,651.50 for Years 16 to the Expiration Date, payable in equal monthly installments at the end of each month. The first six (6) months after Substantial Completion shall be abated.
The renewal of the lease may be terminated by the Tenant any time after the fifth (5th) year, provided the Tenant gives the Landlord ninety (90) days prior written notice
The Tenant shall have two (2) successive options to renew the lease for a period of five (5) years each at 85% of the Fair Market Value Rent.
The Landlord shall prepare final plans and make alterations and improvements in accordance with preliminary plans and scopes of work which are attached to the lease. The alterations and improvements consist of Base Building Work and Tenant Work, which the landlord shall provide at its sole cost and expense.
Further information, including public inspection of the proposed lease, may be obtained, at One Centre Street, Room 2000 North, New York, NY. 10007. To schedule an inspection, please contact Jason Morris, at (212) 386-5083.
If you need further accommodations, please let us know at least five business days in advance of the Public Hearing via email at DisabilityAffairs@mocs.nyc.gov or via phone at 212-298-0734.