This office lease form describes provisions for using the area in the case of a single tenancy floor, within the exterior walls of the New Building, or, in the case of a multiple occupancy floor, within the exterior walls, party walls or corridor walls which is considered to be usable area .
North Dakota Provision Using Usable Area as the Measurement Standard for Midtown Manhattan Modern Office Towers
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US-OL301A
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How to fill out Provision Using Usable Area As The Measurement Standard For Midtown Manhattan Modern Office Towers?
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FAQ
The benefits of Floor Area Ratio (FAR) in commercial real estate are that it allows for higher project density, which can lead to increased property value.
It permits variable dimensions within an over-all volume limit and it offers a way of predicting the ratio of persons to a unit of land in office building districts of high land use intensity.
Floor area ratio (FAR) is the measurement of a building's floor area in relation to the size of the lot/parcel that the building is located on. FAR is expressed as a decimal number, and is derived by dividing the total area of the building by the total area of the parcel (building area ÷ lot area).
