New York Retail Commercial Lease Agreement Template

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The New York Retail Commercial Lease Agreement is a written legal document that is utilized between an owner/landlord/management company and an entity or tenant to rent a retail business space or property. During the term of the agreement by the parties, the agreement will allow the tenant to do business on the property in exchange for monthly rental payments until the expiration of the lease. An applicant should expect a lease to offer specific protections to both the landlord and the tenant. In some cases the tenant may require a guarantor, depending upon rental and credit history. This document does offer an “extension option” in the event the tenant would like to remain beyond the expiration anniversary date.

The tenant should seriously consider reading all articles and sections of this document in their entirety with guidance and approval of knowledgeable legal counsel.

How To Write

Step 1 – Download the document – Retail Lease Page –

  • Enter the full legal name of the landlord
  • AND
  • Enter the full legal name of the tenant
  • Enter the Premises
  • Enter the date in which the document is being completed

Step 2 – Tenant must read the information in the box at the top of the page of the lease to be completed, prior to completion:

  • Enter the date in mm/dd/yyyy format
  • Enter the name of the landlord
  • Enter the name of the tenant
  • Read Section 1.1 titled “Additional Rent”
  • Enter the name of the Broker involved in the rental process
  • Enter the address of the building and any of the improvements made
  • Enter the commencement date of the agreement in mm/dd/yyyy format
  • Enter the expiration date of the agreement in mm/dd/yyyy format and how many years there will be, between the commencement and the expiration anniversary of the agreement
  • If the tenant would like to take advantage of an “extension option” offered by the landlord enter the number of year(s) that the tenant would like to remain as tenant
  • If the tenant would like to review the “fixed rent” information, it will be available for review in Exhibit A
  • Enter the number of days from the initial commencement fixed rate date to the following fixed rate commencement date
  • Enter the name of the guarantor (if any)
  • Review the information with regard to the “landlord’s work”  in Exhibit B (if any)
  • In the event notices must be sent, one to the other, the information for both parties must provide on this document, their respective addresses where notices will be received – enter:

Landlord –

  • Enter the landlord’s address
  • AND

Tenant –

  • The tenant must provide their notice address prior to commencement of the agreement and then a notice address where notices may be received by the landlord after commencement of the agreement (if different)
  • Enter the use of the property. The property must then only be used for that purpose only and no other purpose or business
  • Show the portion of the premises that will be rented by the tenant according to Exhibit C to the lease
  • Enter the percentage of the share of the premises included in the rent amount
  • Enter the security amount for fixed rent then enter the full months of the fixed rent the security will cover with the landlord

Step 3 – The tenant(s) must carefully read, review, understand and agree to all of the remaining articles along with all of the sections contained within each respective article –

  • Demise; Rent (in section 2.6 enter the estimated date of commencement)
  • Use,Rules and Regulations,Tenant Operations,Signs (in section 3.4 tenant must enter all times and days of availability for doing business into the fields provided)
  • Condition of the Premises; Landlord’s Work
  • Tenant’s Work
  • Tax Payments -Tenant must choose the appropriate Exhibit F for pass through or escalation
  • Expense Payments-(Choose Exhibit G as it’s appropriate to the relation of operations expenses, insurance or fuel, escalation or pass through)
  • Utilities and Services
  • Common Areas
  • Repairs and Maintenance
  • Laws; Hazardous Substances
  • Subordination and Estoppel Certificates
  • Insurance
  • Casualty
  • Condemnation
  • Assignment and Subletting
  • Access; Changes in Building and Real Property
  • Default
  • Remedies
  • Security (Tenant must carefully read and enter the required information into the fields required in section 20.1 of Article 20)
  • Broker
  • Notices; Consents and Approvals
  • No Representations; Liability; Tenant Indemnity
  • End of Term
  • Miscellaneous
  • Financial Statements
  • General

Step 4 – Signatures – Enter the following required signatures

Landlord –

  • Signature
  • By: (name and title of authorized signatory)
  • AND

Tenant – 

  • Signature
  • By: ( name of authorized signatory)

Step 5 – Enter Exhibit A (fixed rent)

Step 6 – Enter Exhibit B (Landlord’s Work)

Step 7 – Enter Exhibit C (Premises)

Step 8 – Tenant and Landlord  must read and complete all required fields in Exhibit D and then complete Exhibit D by provision of both signatures as follows:

Landlord – 

  • Landlord’s Signature
  • By: The signature of the authorized signatory
  • AND

Tenant –

  • Tenant’s Signature
  • By: The tenant’s authorized signatory

Step 9  – Exhibits E, F (optional), G –

  • The tenant must carefully read, understand and agree to the Exhibits information as their understanding will be reflected upon the tenant’s final signature of the document

Step 10 – Exhibit H – Full Guaranty – The tenant, guarantor and landlord must carefully read this portion of the document and complete the required fields. Once this portion of the document has been carefully reviewed the Guarantor, in the presence of a notary public for the state of New York, must provide:

  • Provide the date of the Signature of the Guarantor
  • Provide the Gurantor’s signature
  • Home address
  • Social Security Number
  • Signature of Witness
  • Acknowledgement – Once the notary has witnessed all signatures, the New York notary public will complete the witnessing of Exhibit H and acknowledge with their state seal

Step 10 – Exhibit H (Optional) – If interested, tenant may review the “Good Guy Guaranty” If interested, complete the required fields and sign before a notary public in the state of New York

Step 11 – Exhibit I – Principals owning a 25% or greater interest in Tenant

Step 12 – Extension Option Rider – All parties must carefully review and understand this portion of the document prior to signatures – If interested, complete the required fields

Step 12 – Food Use Rider – If your business is food service related, this section of the document must be reviewed carefully and fully understood prior to signature. Any violation would mean a breach of this agreement

Step 13 – Form Letter of Credit – Enter the name of the Issuing Bank

  • Enter the date of the letter
  • Enter the Landlord’s Address
  • Enter the letter of credit number
  • Enter the name of the Applicant/Tenant
  • Enter the name of the Beneficiary/Landlord
  • Enter the Name of the Bank at the end of the letter
  • By: Signature of Authorized Signatory
  • (Annex A will be added by the issuing bank if it’s required)

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