As part of our series of events commemorating 8-years of SBIDC's Plan for Growth business education program, we are thrilled to invite you to a unique event focused on one of the most crucial aspects of business success: the lease agreement, for free!
The session will cover the following:
- An overview of the current market conditions, including details on space usage, pricing structures, and square footage expectations.
- Learn the basics of a lease term sheet, including crucial elements such as lease term, base rent, escalations, additional rent, free rent/tenant improvement allowance, security deposits, and guaranties.
- The fundamental steps involved in preparing a comprehensive submission package to present to potential landlords. This package should encompass financial information, details about guarantors, and other essential documentation.
- Gain insights into the timing for negotiating and finalizing a lease, ensuring you make informed decisions for your business.
- Explore the economic considerations surrounding expanding or closing your business
Speakers:
We are delighted to have two distinguished experts in the field as our speakers:
1. Justin Waiser: Justin is a partner in the law firm of William A. Slutsky, P.C. where he represents a diverse array of property owners in commercial real estate transactions, including businesses, real estate developers, condominium and cooperative boards, sponsors and holders of unsold shares in cooperative developments. He regularly counsels clients on matters related to leasing, sales and construction, including license agreements with neighboring property owners. He also has a robust residential practice where he represents clients in the purchase and sale of condominium and cooperative apartments, single and multifamily homes.
Prior to joining the firm, Justin was associated with well known New York City firms including Ganfer & Shore, LLP, Levitt & Boccio LLP (formerly Michael, Levitt & Rubenstein LLC) and Herrick, Feinstein LLP. Justin was also an Assistant General Counsel with the New York State Housing Finance Agency.
2. Rich Novak: Rich Novak is a Director of Brokerage Services for Cushman & Wakefield where he focuses on industrial, flex space and office leasing in NYC, specializing in both landlord and tenant representation. He has lived in various neighborhoods throughout Brooklyn from 1999 until 2017, giving him unique expertise of the local markets and industrial leasing. Rich has been spearheading the leasing effort for the NYCEDC at the Brooklyn Army Terminal for the last 4 years, placing many manufacturing tenants at the facility both large and small. He has also worked with and placed numerous businesses in Brooklyn and the Boroughs working on their behalf as their tenant rep.
Prior to joining Cushman & Wakefield, he was the Managing Director of CPEX’s Office Investment Sales and Leasing Team. Previous to that, he had a successful 15-year TV career as a Producer for major television networks and production companies, including MTV, CBS, Spike TV and the History Channel, among others. Rich has a diverse skill set that allows him to provide in-depth services for landlords seeking tenants and for clients looking to acquire space.
