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 .
South Carolina Provision Using Floor Area as the Measurement Standard for Midtown Manhattan Modern Office Towers
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FAQ
An increased floor area ratio allows a developer to complete more building projects, which inevitably leads to greater sales, decreased expenditures per project, and greater supply to meet demand.
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.
Wall-to-floor ratio expresses the quantity of external walls per unit of floor area and thus is a critical measure of cost efficiency.
The floor area ratio figure can be used by local governments to divide land areas into zones to restrict urban density. The ratio not only restricts building density but also puts a restriction on the number of persons allowed in a building in the absence of controls on the external shape of the building.
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).
