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 .
Nevada Provision Using Floor Area as the Measurement Standard for Midtown Manhattan Modern Office Towers The Nevada provision utilizing floor area as the measurement standard for Midtown Manhattan modern office towers is a set of rules and regulations imposed by the state of Nevada on the construction and development of office towers in the bustling Midtown Manhattan area of New York City. The provision primarily focuses on using floor area as the primary metric for determining the size and capacity of the office towers. This provision is crucial as it ensures fair and standardized measurement practices for modern office towers, allowing for accurate comparisons and assessments. By adopting floor area as the measurement standard, it provides a clear and consistent benchmark for evaluating the size and capacity of office towers, regardless of their design or layout. The use of floor area as the primary measurement standard ensures uniformity and transparency in assessing the size and capacity of Midtown Manhattan modern office towers. It eliminates discrepancies that might arise from varying interpretations of measurements based on alternate standards. Under this provision, there may be different types of measurements used for various purposes, including: 1. Gross Floor Area (GFA): This is the total floor area of the office tower, typically measured from the exterior walls. GFA includes all usable spaces, such as office rooms, common areas, amenity spaces, and service areas, but excludes non-usable spaces like mechanical rooms and shafts. 2. Net Floor Area (NFL): This represents the area available for actual occupancy or utilization by tenants. NFL excludes areas such as vertical penetrations, mechanical rooms, and common spaces that are shared by multiple tenants. 3. Rentable Floor Area (RFA): This measurement standard considers the area used for rent calculation purposes. It includes the NFL along with a proportionate allocation of common spaces, such as lobbies, hallways, and restrooms, as determined by a specific formula or agreement. The Nevada provision utilizing floor area as the measurement standard for Midtown Manhattan modern office towers aims to promote fairness, accuracy, and consistency in evaluating the size and capacity of these structures. It ensures that stakeholders, including developers, tenants, and regulatory authorities, have a common method to assess and determine various aspects like leasing rates, zoning regulations, and building codes. By adopting a standardized measurement system, the provision facilitates effective and efficient decision-making processes related to the development, appraisal, leasing, and management of modern office towers in Midtown Manhattan.
