This office lease form describes provisions for using the area with respect to each office floor, mean the area within the exterior walls of the Building and, in the case of the lobby floor, the area within the demising walls of areas rented or to be rented which is considered floor area .
Maine Provision Using Floor Area as the Measurement Standard for Midtown Manhattan Modern Office Towers In the context of Midtown Manhattan's modern office towers, the term "Maine Provision" refers to a specific regulation that governs the measurement standard for calculating floor area in office buildings. This provision is crucial in determining the square footage and ultimately the value of commercial office spaces within Midtown Manhattan. The Maine Provision dictates that the floor area of a modern office tower in Midtown Manhattan should be measured in accordance with a specific set of guidelines. These guidelines aim to provide a standardized and fair methodology for calculating the square footage, ensuring consistency and accuracy in real estate valuations. One key aspect of the Maine Provision is its emphasis on using floor area as the measurement standard. This means that the total area of all usable and rentable spaces within the office tower should be considered when determining its size. This includes factors like office spaces, reception areas, conference rooms, hallways, storage areas, restrooms, and any other space that can be utilized by occupants. By basing the measurement standard on floor area, the Maine Provision ensures that any unused or inaccessible spaces, such as mechanical rooms, stairwells, elevator shafts, and utility closets, are not included in the calculation. This approach provides a more accurate representation of the actual usable space available to tenants. The Maine Provision is particularly relevant to Midtown Manhattan due to its high concentration of modern office towers, which serve as major commercial hubs and contribute significantly to the city's economy. As Midtown Manhattan is one of the world's most sought-after business districts, it's crucial to have a reliable and consistent measurement standard to assess and compare office spaces based on their size and value. Different types or variations of the Maine Provision may exist within Midtown Manhattan. For instance, some office towers might adhere to the original version of the provision, while others may have specific modifications or updates that reflect changes in industry standards or local regulations. However, the core principle of using floor area as the measurement standard remains consistent across all variations of the Maine Provision. In conclusion, the Maine Provision Using Floor Area as the Measurement Standard for Midtown Manhattan Modern Office Towers is a vital regulation that determines the accurate assessment of office spaces in one of the world's most prestigious business districts. By focusing on floor area and excluding unusable spaces, this provision ensures fairness and consistency in valuing commercial office spaces, benefiting both property owners and tenants alike.
