Michigan Provision Using Usable Area as the Measurement Standard for Midtown Manhattan Modern Office Towers

State:
Multi-State
Control #:
US-OL301A
Format:
Word; 
PDF
Instant download

Description

This office lease form describes provisions for using the area in the case of a single tenancy floor, within the exterior walls of the New Building, or, in the case of a multiple occupancy floor, within the exterior walls, party walls or corridor walls which is considered to be usable area.

How to fill out Provision Using Usable Area As The Measurement Standard For Midtown Manhattan Modern Office Towers?

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FAQ

The total floor area of a building, measured from the outside of external walls or the centre of party walls, and includes all roofed areas. The total floor area of all floors of all buildings on a site. It includes half the width of any party wall and the full width of all other walls.

Building Area is the footprint of the building measured to the inside face of the exterior walls. All enclosed spaces are included and deductions are not made for mechanical shafts, vertical circulation, interior walls, or structural elements.

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.

The second calculation is determined by calculating the floor area, again in square feet, of each story of the building and then adding up the area of each floor to determine the gross, or total, floor area of the building. Dividing the gross floor area by the buildable land area produces the Floor Area Ratio (FAR).

In architecture, construction, and real estate, floor area, floor space, or floorspace is the area (measured as square feet or square metres) taken up by a building or part of it.

The floor area of the building is the total area of the floor in between walls and consists of the floor of all rooms verandas, corridors, etc. The floor area is equal to the plinth area minus area occupied by walls.

Building Area ? The sum of the floor area of all floors in all buildings on a site. Unlike "Floor Area," building area includes garages, carports, storage buildings, and other attached or detached accessory structures.

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).

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Michigan Provision Using Usable Area as the Measurement Standard for Midtown Manhattan Modern Office Towers