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 .
The Michigan Provision Using Floor Area as the Measurement Standard for Midtown Manhattan Modern Office Towers is a regulation that specifies the measurement standards to determine the floor area of office spaces in Midtown Manhattan, New York City. This provision helps in defining the accurate size of modern office towers and ensures consistency and fairness in measuring their floor space. Under the Michigan Provision, the floor area of Midtown Manhattan modern office towers is calculated using specific guidelines. The measurements are based on the Gross Floor Area (GFA) of the building, which includes all usable spaces such as office areas, common areas, corridors, lobbies, and mechanical rooms. However, areas like parking floors, storage rooms, and equipment areas are excluded from the GFA calculation. This measurement standard is crucial for various purposes. Firstly, it aids in determining the accurate amount of rentable space within a building, helping landlords and tenants establish fair lease agreements. Secondly, it allows real estate developers to evaluate the size and potential profitability of a modern office tower accurately. Furthermore, the Michigan Provision ensures transparency and prevents any misrepresentation of the floor area in Midtown Manhattan office buildings. Compliance with these standards guarantees that the marketed size corresponds to the actual usable space available to tenants, eliminating any confusion or discrepancies. Different types of Michigan Provision Using Floor Area as the Measurement Standard for Midtown Manhattan Modern Office Towers may include variations depending on the specific district or zoning restrictions within Midtown Manhattan. For instance, some areas might have additional guidelines or requirements for measuring floor area, especially in historical buildings or designated landmarks. Overall, the Michigan Provision For Floor Area Measurement Standards is an essential regulation within Midtown Manhattan for accurately determining the floor space of modern office towers. It safeguards the interests of both landlords and tenants and contributes to the efficient functioning of the commercial real estate market in this vibrant district of New York City.
