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Financial Factors to Consider When Entering into a Commercial Lease — 2-Hours of FREE NYS CE Credit - Shared screen with speaker view
Ryan Haber
01:27
Good morning! Here’s today’s Financial Factors to Consider When Entering into a Commercial Lease course outline: https://bit.ly/2BekDFb
Louis Fisher
15:03
Good Morning Larry !
Terri Patterson
16:43
G'morning All!
L Steve Lorenzo
30:25
Should terms of the good guy be addressed in the term sheet>?
Doug Kleiman
34:08
Paul!..and record number of marathons run!
Terri Patterson
34:20
Some participants need to be muted. There is noise.
Don Catalano
36:03
Didn’t I offer to spread out the free rent :-)
Doug Kleiman
37:31
Larry, can you please opine a bit on requests/demands for full fee for retail deals? (as much as we all would love to earn them)
Demetri Ganiaris
37:50
if broker is willing to have commish spread out over 2-3 yrs for 10 yr deal, shouldn’t u put that on LOI?
Don Catalano
39:40
I call that what it is - a kickback!
Don Catalano
39:52
Brokers shouldn’t do it!!!
Beth Rosen
42:40
have you ever seen a case where LL does modified gross lease for retail condo and LL separates rent from taxes for commission Calc?
Demetri Ganiaris
43:48
need to spread out commission for small landlords especially in times like this
Josh Singer
46:05
Heading into the post COVID market… I’m going to demand in my brokerage agreements that the landlord have a smile on their face when they cut us the check!
Paul Fetscher
47:47
On Zoom calls now we find out who are the REAL Blondes
Ryan Haber
50:48
VIDEO: The How & Why Brokers Can Make a Difference in all Phases of a Lease Negotiation - https://leasingreality.com/the-how-why-brokers-can-make-a-difference-in-all-phases-of-a-lease-negotiation-2/
Beth Rosen
51:07
thanks Ryan!!!
Mitch Weiss
51:29
retail/hospitality: have you been seeing more percentage deals. If so, how are the broker fee's being calculated and/or structured?
Peter Carillo
51:32
Thank you Ryan
Paul Fetscher
52:57
Mitch. Percentage deals are warranted if landlord controls the environment such as Hudson Yards. It is NOT warranted on a storefront deal
Scott MacWhinnie
53:23
Worst on commissions, late Frank Ring
Doug Kleiman
56:49
can you speak to ethical issue of requesting a full fee (for retail deal) from LL with or without tenant (customer) being informed
Paul Fetscher
56:56
Relief of Liability is Commissionable
Doug Kleiman
58:07
Frank Ring! A case study in insanity!
Don Catalano
59:46
Larry in tough markets like this, it is wise to have the tenant guarantee the brokerage fee.
Doug Kleiman
01:06:23
I suppose it amounts to 1.5% of a fee
Amie Claps
01:10:07
Cheers, Don!
Paul Fetscher
01:10:14
Brokers: We don't get paid for MOST of what we do!
Josh Singer
01:10:14
Don, good points
Doug Kleiman
01:11:42
@Paul…so true!
L Steve Lorenzo
01:14:25
Part of good due diligence for your tenant is looking to see if there are any ICAP or like tax abatements expiring during the term of the lease. How have you addressed this if found ?
Sudhir Sachdev
01:14:27
Crazy, but maybe brokers need their own representation in the deal by hiring their own lawyer
Paul Fetscher
01:16:35
When Harry Helmsley had the Empire State Building the "Pro Rata Shares" added up to 113%
Paul Fetscher
01:22:57
Measure the Square Footage. There are different RULES under BOMA and AIA in measuring the Upper floors as opposed for measuring the retail space. There is no "Loss Factor" in retail.
Demetri Ganiaris
01:24:16
is there a way to get RPIEs?
Paul Fetscher
01:25:09
Should Retail be subject to 32B escalations? Retail doesn't use the elevators. Retailers do their own cleaning
Paul Fetscher
01:27:06
And retilers pau their owne electric & HVAC costs
Doug Kleiman
01:28:38
remember porter’s wage with/without fringe?
Doug Kleiman
01:33:34
DCF
William Bergman
01:34:29
keep on truckin
Peter Carillo
01:34:42
Keep going
Doug Kleiman
01:34:51
agree with Bill! :)
Gregg Cohen
01:37:32
can you do that again please
William Bergman
01:39:05
but not if meter needs replacement after initial installation
Beth Rosen
01:39:36
$300k on 15 year lease, rent is $5.6M aggregate vs $5.2 M if you don’t compound annually. I think that was it.
Mitch Weiss
01:45:55
you can often find rpie summary on prop shack
Michael Rosenfeld
01:48:58
Tenants believe the GGG is a right to terminate. We like to say its an anti-squat clause.
Lisa Ann Pollakowski
01:49:48
security - if security was to burn down say frm 6 month to 3 in yr 3 but LL doesn’t return excess, does LL have access to that additional 3 months in event of default or is LL limited to the 3 months?
Paul Fetscher
01:57:01
NYC as Eliminated ANY fees for Sidewalk Cafes
Doug Kleiman
01:57:24
do you expect to see litigation re: this new legislation?
Doug Kleiman
01:57:52
…from REBNY etc?
L Steve Lorenzo
01:58:25
Often attorney's exclude brokers from even comments on a lease negotiation. If an details in LOI is circumvented by those attorneys , and tenant is unaware of those - do they have recourse by referencing the LOI after a lease is signed? I have often seen deal points in the LOI either ignored or changed - so I insist on the first and execution draft to review at a minimum.
Doug Kleiman
02:02:22
this is similar to the restriction for landlords offering buy-outs to rent controlled residential tenants…can be construed as harassment
L Steve Lorenzo
02:02:27
Ive seen some landlords sending default letters to their tenants saying they can cancel the lease if rent not immediately paid during COVID
William Bergman
02:03:11
probably going to start now
Amie Claps
02:04:29
Send the link for charity donation, pls
Ryan Haber
02:04:37
Thanks for joining us today - if you asked a question and it wasn’t answered, feel free to reach out to Larry at 9173629413 or lhaber@agmblaw.com. Stay safe and enjoy the weekend!Note that we will submit the “student list” to the DOS as soon as possible. Thereafter, we will generate certificates for those that provided broker license credentials during the registration process - an email will follow when the certificates have been uploaded to Leasing REality with access details. For those that attended last week’s session, the password will be the same. If you have any questions don’t hesitate to reach out!
Don Catalano
02:04:58
Larry - love that you’re doing the charity. Count me in for the $500.
Doug Weinstein
02:05:05
Thanks Larry
Doug Kleiman
02:05:08
Thank you Larry….you are the best!
Terri Patterson
02:05:09
Thank you so much Larry! This was great!
Marsa Truscott
02:05:12
THANKS LARRY! So helpful!
dennisgandley07191969
02:05:18
Thank you!
Nancy Wood
02:05:19
thank you
Alexander Karas
02:05:22
thanks Larry!
Don Catalano
02:05:24
Thank you Larry!!!
Cyrus Sassouni
02:05:28
Thank you!
Gabriel Staab
02:05:32
thank you larry and ryan