The property and improvements which the Seller is agreeing to sell and which the Purchaser is agreeing to purchase is known as. A New York commercial real estate purchase and sale agreement is a contract between a buyer and seller used to transfer ownership of commercial property.This form of purchase and sale agreement includes guidance for both purchasers and sellers in New York commercial real estate acquisition and sale transactions. An attorney's explanation of an Office Purchase and Sales Agreement and its free template for commercial real estate. Use a commercial real estate purchase agreement to secure transactions and protect your interests effectively.