The KNOG

The 7 Deadly Sins Tenants Make (when Leasing Office Space.)

Jun 19, 2018 6:30:00 AM / by George Grace posted in New York office space, Office Lease, Tenants, Signing of a Lease, Real Estate Market, Office Work Space, Leasing Space, Lease Agreement, Landlord

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Manhattan vs. Westchester: A Case Study of One Non-Profit’s Dilemma

Dec 29, 2016 6:34:52 PM / by George Grace posted in Financial Crisis, Landlord, Manhattan vs. Westchester, Non-Profit Organization, Real Estate Market, Tenant, THE KNOG

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Manhattan vs. Westchester: A Case Study of One Non-Profit’s Dilemma

Recently I was contacted by a non-profit organization whose lease will be expiring soon.  

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Authority vs. Responsibility

Dec 16, 2016 3:42:08 PM / by George Grace posted in Landlord, Project Manager, Tenant, THE KNOG

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Authority vs. Responsibility

Throughout my career, I have seen many situations in which doing business is made difficult by a dysfunctional power structure, but there are two that are particularly vexing:

1. A person has all of the authority, but none of the responsibility; or

2. A person has all of the responsibility, but none of the authority.

Authority: Landlord

Responsibility: Project Manager

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New York City’s Sprinkler Law: A Crash Course in Capital Improvements

May 5, 2016 5:16:03 PM / by George Grace posted in Building Department Regulation, George Grace, Insurance Premuims, Landlord, Lease, Lease Negotiation, Mohr Partners, New York City, New York City’s Sprinkler Law, Signing of a Lease, Tenant, Tenant Representative Broker, THE KNOG

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New York City’s Sprinkler Law: A Crash Course in Capital Improvements

If a new building department regulation goes into effect subsequent to the signing of a lease, either the tenant or the landlord has to comply with that regulation. In most cases, the landlord stipulates that the tenant is fully responsible for complying with all laws and regulations. However, it is usually possible to prevent the tenant from being fully responsible for capital improvements. An excellent example of this is retrofitting a space for a sprinkler-based fire prevention system. 

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As the Economy Stumbles, Subletting Soars

Mar 29, 2016 6:27:21 PM / by George Grace posted in Commercial Real Estate, George Grace, Landlord, Mohr Partners, Office Tenant, Sublease, Subletting, Tenant, THE KNOG

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As the Economy Stumbles, Subletting Soars

Last year I had the pleasure of representing a foreign client who wanted to find a retail space. One of the storefronts we were considering was adjacent to a large corner unit that was leased to an accessory unit of a world famous brand. Recently, I found out that the tenant, who had only been in the space for less than a year, decided to close the store and sublet the unit for the remainder of the lease—even though the tenant had invested millions of dollars into the construction and design of the space.

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Who Is Responsible for Snow Removal?

Mar 1, 2016 5:54:56 PM / by George Grace posted in George Grace, Landlord, Mohr Partners, New York City, Snow, Snow Removal, Snowmageddon 2016, Tenant, THE KNOG, Winter Storm Jonas

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Who Is Responsible for Snow Removal?

After Winter Storm Jonas (more popularly known as Snowmageddon 2016), New York City had 2.5 to 3 feet of snow in places. It was hard not to notice that some patches of sidewalk were shoveled while others weren’t, requiring pedestrians to navigate alternative routes. Sometimes, this means walking out in the street, which can be dangerous. I experienced this first-hand in front of a local H&R Block store.

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When Does a Lease End?

Oct 8, 2015 4:58:28 PM / by George Grace posted in George Grace, Holdover Provision, Holdover Tenant, Landlord, Lease, Mohr Partners, New York, New York Law Firm, Office Space, Short Term Extension, Tenant, THE KNOG, Third Party Beneficiaries

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When Does a Lease End?

The best time to leave a property is upon expiration of the lease term, but there is always room for negotiation.

Several months ago, a client (the tenant) had a lease that was close to expiration. The tenant was about to sign a lease for a different space, but something happened: Another property came on the market, they looked at it and decided it was much better suited for their business. However, starting all over in the negotiation process would have put the tenant over their current lease expiration date. In order to acquire the new space, the tenant would have to extend their current lease, or pay a penalty.

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Negotiating the “Total Cost” of Your Rental Agreement

Jul 8, 2015 5:23:30 PM / by George Grace posted in Commercial Lease, Commercial Property, Commercial Real Estate, Commercial Real Estate Lease, Commercial Space, George Grace, Landlord, Lease Agreements, Mohr Partners, New York City, Real Estate, Rental Agreement, Tenant Build-Outs, Tenant Representative Broker, Tenants, THE KNOG

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Negotiating the "Total Cost" of Your Rental Agreement

“Total cost” encompasses more than the rent.

When negotiating a commercial lease the “total cost,” including each of these factors, must be considered:

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How Do I Get Out Of My Commercial Real Estate Lease? Part 2

Jun 3, 2015 6:21:43 PM / by George Grace posted in Buyout, Commercial Real Estate Lease, Fortune 500 Tenant, George Grace, Landlord, Landlords, Landlord’s Breach, Lease Agreement, Litigation, Mohr Partners, Office Tenant, Real Estate Broker, THE KNOG

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How Do I Get Out Of My Commercial Real Estate Lease? Part 2

In the previous post, we discussed subleasing, assigning, desk-sharing and the option to cancel as some of the remedies a business might use to get out of a lease. In this post, we discuss the least desirable ways to get out of a lease: buyout and litigation.

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