Thanks for all of the help so far. I have a feeling we can make him pay the broker fee if we are subject to an NNN lease. I'm wondering if such a lease is bad, since it is a small property that doesn't share its space with anyone. Doesn't it make it more transparent? I suppose it makes taxes more difficult. I just spoke with a lawyer who made the whole process of signing a commercial lease more terrifying. For example, certificate of occupancy is very important since it is a garage-type space (the owner is a plumber)... and we may have to get an architect to approve the space for our purposes if the certificate does not qualify for our business code... which I don't even know. It's a bit absurd how much NYC requires to open a space.
-Cody On Tuesday, March 27, 2012 3:34:25 PM UTC-4, JJ wrote: > > Yes it's normal as a NNN lease. As a buyer you shouldn't be paying the > $3800 for your brokerage fees either, especially when this broker should be > answering these questions for you as your representation as opposed to a > coworking wiki. > > Also, you don't need a 5 year lease to make sure your rate doesn't get > raised, you can set an option after the first lease is up with a specific > rental rate per sq ft within it to safeguard you from future market > appreciation. That and a 5 year lease on a brand new business would make me > a bit nervous. > > Just my first thoughts as a coworking space owner and real estate broker. > > Josh Aberson > > Sent from my iPhone > > On Mar 27, 2012, at 2:10 PM, Natalie <biwenata...@gmail.com> wrote: > > > Hi everyone, > > > > > > Okay, my first post disappeared. I'm not sure why. Apologies in > > advance if it resurrects itself. I've been reading this forum for a > > few weeks. It's incredibly informative. Nonetheless, I find myself in > > a situation, and I can't find an exact answer. My partner and I are > > about to commit to a commercial space in Brooklyn. Here's the offer: > > > > > > 2,500 sq ft > > > > $3,800 with 2% increase (good for the area) > > > > 2 month abated rent > > > > But, we have to pay broker fee ($3,800), so it's like we're getting > > one month abated rent. > > > > 5-year lease (This seems good because the owner can't quickly jack up > > the price until it's time for renewal.) > > > > > > > > Here's the catch. The owner wants us to pay the property taxes, which > > are $500 a month. Is this very unusual? We may be able to lower the > > rent to compensate. The realtor also said that this rent will not go > > up if the interior design makes property value go up. (I'm also > > curious about occupancy tax. I read about it in this forum and wonder > > if we will need to pay it.) > > > > Lastly, he wants us to pay property insurance, but I think this just > > means general liability, which we have to do any way. > > > > Do you guys use lawyers when signing the lease? If so, any > > recommendation from New York area? > > > > Any suggestions/comments welcome! > > > > Thanks, > > Natalie and Cody > > > > -- > > You received this message because you are subscribed to the Google > Groups "Coworking" group. > > To post to this group, send email to coworking@googlegroups.com. > > To unsubscribe from this group, send email to > coworking+unsubscr...@googlegroups.com. > > For more options, visit this group at > http://groups.google.com/group/coworking?hl=en. > > > > -- You received this message because you are subscribed to the Google Groups "Coworking" group. To view this discussion on the web visit https://groups.google.com/d/msg/coworking/-/3yjR6jClS5YJ. To post to this group, send email to coworking@googlegroups.com. To unsubscribe from this group, send email to coworking+unsubscr...@googlegroups.com. For more options, visit this group at http://groups.google.com/group/coworking?hl=en.
