Office Lease Agreement (Multi-Tenant Base Year Model Gross Lease) (Pro-Landlord Long Form) (NY)

by Practical Law Real Estate

A long form lease agreement for office space in a multi-tenant office building in New York that is drafted in favor of the landlord. This Standard Document establishes the tenant's obligation to pay a fixed rent, along with its proportionate share of the increases in real estate taxes and operating expenses above those expenses incurred in a base year. A lease with this type of payment arrangement is sometimes called a gross lease or a base year model gross lease. The lease includes detailed provisions on tenant alterations, insurance obligations, and compliance with laws, ensuring both parties understand their responsibilities. It addresses the landlord's default remedies and the landlord's rights to access the premises, perform necessary repairs, and manage tenant alterations, while specifying tenant rights to contest legal requirements affecting the premises. This lease agreement is governed by New York law but reflects common practices in urban office leases across the country. This Standard Document has integrated notes with important explanations and tips for drafting and negotiating an office lease.