Kiritsis & Associates
Kiritsis Law Offices.Phone: (212) – 922 – 0005.
Written By: John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M
In a triple net commercial lease, the landlord benefits from asset protection, favorable tax treatment, and less management obligations. Real property does NOT include personal property. New York real property law does NOT include personal property.
Due to constitutional and other concerns, courts will typically avoid construing a lease in a way that leads to civil forfeiture. All triple net leases are net leases, but not all net leases are triple net leases.
Besides legal regulations, there may be practical reasons, that would compel landlords and tenants alike, to have their lease agreement contractual documents, be recorded for public filing purposes. Those reasons can involve any one or more of a myriad of situations, such as: part of a broader loan/mortgage type of agreement (i.e. as it concerns to a lender's/underwriter's due diligence process, during a mortgage financing type of situations), tax substantiation reasons with regards of an ongoing and/or potentially prospecting upcoming tax audit, part of a wider range of zoning/variance controversy situation.
Given the ever-increasing real property price of New York City real estate over the last few decades, triple net commercial leases may offer landlords highly flexible finance structuring possibilities. Another potential benefit for landlords is their ability, under certain conditions, to avoid the regulations that limits residential lease security deposits from surpassing the amount of one month’s rent.
Many of the lease agreements (especially, many of the ones created through do-it-yourself autogenerating software or bare-bone store sold templates) did not account the catastrophic damages, that would inflict landlords and tenants after COVID-19.
To better assist in a quest of further analyzing this type of question(s) as revolving per this legal guide article, it may be useful to make additional inquiries, such as: Should any pertaining lease documents be filed as a public recordation? Is it possible to make a county-specific public recordation of the pertaining lease documents? Is it permissible to have the lease be freely assignable?
Our firm can help you draft, review, negotiate, and execute any type of New York real property lease agreement. We are open seven days a week from 8 a.m. to 8 p.m. We offer prospective clients both exhaustive and comprehensive leasing law practice services, including the following:
Non-rent regulated residential lease agreements.
Rent regulated stabilized residential lease agreements.
Commercial lease agreements.
Industrial occupancy lease agreements.
Warehouse storage lease agreements. Call our law offices at (212)–922–0005
Medical space use lease agreements.
Spa and physical therapy related use lease agreements.
Professional service lease agreements, including Accounting, Insurance, Medicine, Law, Architecture, etc.
Safety deposit/vault use lease agreements.
Cinema and theater productions related use lease agreements. Call our law offices at (212)–922–0005
Co-habitation lease agreements.
Lease agreements modifications.
Cancellation of real property lease agreements.
Cancellation of commercial lease agreements.
Gas station and related use lease agreements. Call our law offices at (212)–922–0005
Food establishment and related use lease agreements.
Liquor store and other related use lease agreements.
Parking space and garage related use lease agreements.
Church and related use lease agreements.
Synagogue and related use lease agreements. Call our law offices at (212)–922–0005
Hinduism temple and related use lease agreements.
501 (c) 3 organization and related use lease agreements.
Lease agreement contracts with option to purchase clause.
Tax favored lease agreements.
Agriculture and related use lease agreements. Call our law offices at (212)–922–0005
Poultry related use lease agreements.
Mineral rights related use lease agreements.
Riparian and water rights related use lease agreements.
Dining hall use lease agreements.
Tenant-focused and customized lease agreements. Call our law offices at (212)–922–0005
Condo lease agreements.
Condo co-op lease agreements.
Co-op-type building premises lease agreements.
Single family dwelling lease agreements.
Three family dwelling lease agreements. Call our law offices at (212)–922–0005
Multi-family property lease agreements.
Commercial use building premises lease agreements.
Locker room/storage type lease agreements.
Carwash and other related use lease agreements.
Hair saloon and related use lease agreements. Call our law offices at (212)–922–0005
Governmental entity organization related use lease agreements.
Adults-only recreational use lease agreements, including strip clubs, Marijuana dispensaries, etc.
Co-op propriety lease agreements.
Drafting lease agreements.
Lease agreement and document review services. Call our law offices at (212) – 922 – 0005.
We offer prospective clients services throughout the state of New York, including the following counties:
You can call use today for a FREE initial consultation with a licensed New York real estate attorney at (212) – 922 – 0005.
We offer a number of fee payment options, including Flat, Hourly Rate, Mixed-type (various payment plans combined).
We accept all standard methods of payment, including Cash, Personal Check, Business Check, Cashier Check, Bank Check, Money Order, Debit Card, most Credit Cards.
We also sell template-type products, including legal guide pamphlet-style booklets.
For more information on any of the above services and products, or any type of legally related service product, contact us at any of our New York and New Jersey branch affiliates.
New York Constitution
New York City Bar Association
New York Department of Finance
New York State Society of CPAs
General Obligation Law (GOL) §5-702, §5-703
NY RPL §226
NY RPL §232
NY RPL §237
Hiles v. Fisher, 144 N.Y. 306 (1895)
Lawriv v. Cit of Rochester, 14 A.D.2d 13 (4th Dept. 1961)
Minja K Co. v. Randolph, 140 A.D.2d 245 C 1st Dept, (1988)
Scutti Enterprises, Inc. v. Wackermain Cuchone Custom Builders, Inc., 153 A.D.2d 83 (4th Dept. 1989)
Witter v. Taggart, 78 N.Y.S.2d 234 (1991)
Bonton v. Williams, 42 A.D.3d 795 (3rd Dept. 2007)
Wells Fargo Bank N.A. v. Marchione, 69 A.D.3d 204 (2nd Dept. 2009)
Meyers v. Rosen, 69 A.D.3d 1095 (2nd Dept. 2010)
Pritsiolas v. Apple Bankcorp, Inc., 120 A.D.3d 647 (2nd Dept. 2014)
Kheel v. Molinari, 165 A.D.3d 1576 (3rd Dept. 2018)
Law Offices of Kiritsis & Associates
Phone # 212 922 0005
Manhattan Office (Main Office):
633 Third Avenue
New York, NY 10017
Brooklyn Office (By Appointment Only):
1023 74th Street
Brooklyn, NY 11228
New Jersey Office:
7309 Ventnor Avenue
Ventnor, NJ 08406
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We hope you would find this website useful with regards to finding potentially relevant information for your legal issue. The Law Offices of Kiritsis & Associates PLLC is a boutique law Firm Group headquartered in Midtown Manhattan, with offices in Manhattan, Brooklyn (NY) and New Jersey. We strive to provide professional legal services for individuals and various business entities. Our clientele ranges from including aspiring entrepreneurs, startups to established business organizations.
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