07/30/2001
NYMEX invites you to formalize any interest that you may have in leasing space on either of the above referenced floors by no later than August 24th, 2001, by:
i. completing and returning the enclosed form and
ii. making a "good-faith deposit" in an amount equal to $5.00 per square foot of space that you are interested in leasing.
The deposit will be held by NYMEX in an interest bearing account and will be refundable until lease terms become firm, at which time the deposit will no longer be refundable.
NYMEX is proceeding on this basis in order to determine how many members are seriously committed to leasing space on the 8th and 9th floors.
NYMEX has developed the following parameters for leasing space to members:
Form of Lease:
All tenants leasing 2,500 RSF and greater will have a lease agreement with NYMEX. All other tenants will have license agreements.
Term of Leases:
Tenants of 2,500 RSF and greater 5 years Tenants of 700 - 2,499 RSF 3 years Tenants of 699 RSF 2 years
Landlord's Work:
NYMEX will modify the existing premises on the 8th and 9th floors including the construction of a common corridor (if necessary). In addition Landlord shall demise the premises for less than full floor users and this will include cosmetic alterations such as paint and carpet as necessary.
Base Rent:
$43.00 to $47.50 per rentable square foot, depending on location and size. Base rent will include initial porter wages and taxes, but not electricity.
Escalations:
Members will be required to pay their proportionate share of porter wage increases without fringe benefits over a current base year. Members will also be separately charged for electricity provided to their space on a submetered or rent inclusion basis. While NYMEX will provide basic office building services, such as customary cleaning and rubbish removal, exterior window washing etc., tenants in the member space will be separately charged for "extra" or "after-hours" services.
Real Estate Taxes:
Members will be required to pay their proportionate share of all increases in real estate taxes, over a base, payable in respect to their space. The member space will be fully taxable at the same rate as other space at the World Financial Center.
Security Deposits:
Tenants will be required to post security deposits in the form of cash of letters of credit, in an amount equal to 2 months base rent for all tenants.
If you have any questions regarding this letter, please feel free to call Robert Lowe of Cushman & Wakefield, at (212) 709-0747 or Libby Venute of NYMEX at 299-2270.
We look forward to receiving your response.
Date: _______, 2001
To: Libby Venute, Vice President
New York Mercantile Exchange
One North End Avenue, 9th Floor
New York, NY 10282-1101
RE: New York Mercantile Exchange Building Entire 9th and Part 8th Floors
! We are interested in leasing approximately __________ rentable square feet of space in the building at Battery Park City. We enclose a "good-faith deposit" in the amount of $ __________, computed as $5 per square-foot of space that we are interested in leasing. We understand that the deposit will be held in an interest-bearing account and is refundable.
! We are interested in "Suite Space" for approximately _______ people. Our contact person is __________________________, Tel. _____________.
Company Name:________________________
Address: ______________________________
______________________________________ Signature