A look at different types of NYC storefront commercial leases. Kiritsis & Associates --212 922 0005
The legal framework variation, among different types of commercial retail/storefront type of property, has created and at the same time made possible, by the myriad of possible commercial lease types for such real property class.
Major PointsThere are a number of ways to classify the different types of commercial leases. Perhaps one of the more common ones, is that which classifies commercial leases based on different tenant rent payment structures -- some examples, may include: gross lease, triple net lease, etc. It should be noted that, although, there may be different types of commercial leases, many of the commonly encountered provisions within those lease agreements, may be relatively the same.
Other Areas of Concern.Another way to look through the various types and subcategories of commercial leases, as it concerns storefront/retail properties, is by clause provision features, such as: option to extend commercial lease, assign-ability lease rights, transfers of lease rights and assignments, subleasing rights and duty to mitigate damages.