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 .
Kings New York Provision Using Usable Area as the Measurement Standard for Midtown Manhattan Modern Office Towers In Midtown Manhattan, New York, the Kings New York Provision has introduced a new measurement standard for modern office towers — the usable area. This innovative approach to measuring a building's size aims to provide a more accurate and transparent representation of office space to meet the evolving needs of businesses. Unlike traditional measurements such as gross leasable area (GLA) or rentable square footage (RSF), which include common areas and structural components, the Kings New York Provision emphasizes usable area. This standard focuses on the actual space that tenants can utilize for their business operations, excluding non-usable areas, such as hallways, staircases, and mechanical rooms. By adopting the usable area metric, Midtown Manhattan's modern office towers aim to ensure that tenants are only paying for the space they can effectively utilize, optimizing efficiency and cost-effectiveness. The provision eliminates any ambiguity or misunderstanding surrounding the true size of the leased space, providing clarity and enabling better decision-making for businesses. Different types of Kings New York Provision Using Usable Area as the Measurement Standard for Midtown Manhattan Modern Office Towers: 1. Class A Usable Area Office Towers: — These office towers represent the highest standard in terms of quality, amenities, and location. They typically offer state-of-the-art facilities, advanced technology, and prime locations in Midtown Manhattan. 2. Class B Usable Area Office Towers: — These office towers provide good quality office space, amenities, and accessible locations, but may not offer as many high-end features as Class A towers. However, they still meet the standards set by the Kings New York Provision. 3. Class C Usable Area Office Towers: — These office towers provide basic office space with limited amenities and may be located in less desirable areas of Midtown Manhattan. They offer affordable options for businesses that prioritize cost-effectiveness over premium features. Overall, the Kings New York Provision has reshaped the measurement standard for office spaces in Midtown Manhattan's modern office towers. By focusing on the usable area, businesses can expect greater transparency, cost efficiency, and accurate representation of the space they lease, ensuring that their needs are met while maximizing productivity and functionality in their workplace.Kings New York Provision Using Usable Area as the Measurement Standard for Midtown Manhattan Modern Office Towers In Midtown Manhattan, New York, the Kings New York Provision has introduced a new measurement standard for modern office towers — the usable area. This innovative approach to measuring a building's size aims to provide a more accurate and transparent representation of office space to meet the evolving needs of businesses. Unlike traditional measurements such as gross leasable area (GLA) or rentable square footage (RSF), which include common areas and structural components, the Kings New York Provision emphasizes usable area. This standard focuses on the actual space that tenants can utilize for their business operations, excluding non-usable areas, such as hallways, staircases, and mechanical rooms. By adopting the usable area metric, Midtown Manhattan's modern office towers aim to ensure that tenants are only paying for the space they can effectively utilize, optimizing efficiency and cost-effectiveness. The provision eliminates any ambiguity or misunderstanding surrounding the true size of the leased space, providing clarity and enabling better decision-making for businesses. Different types of Kings New York Provision Using Usable Area as the Measurement Standard for Midtown Manhattan Modern Office Towers: 1. Class A Usable Area Office Towers: — These office towers represent the highest standard in terms of quality, amenities, and location. They typically offer state-of-the-art facilities, advanced technology, and prime locations in Midtown Manhattan. 2. Class B Usable Area Office Towers: — These office towers provide good quality office space, amenities, and accessible locations, but may not offer as many high-end features as Class A towers. However, they still meet the standards set by the Kings New York Provision. 3. Class C Usable Area Office Towers: — These office towers provide basic office space with limited amenities and may be located in less desirable areas of Midtown Manhattan. They offer affordable options for businesses that prioritize cost-effectiveness over premium features. Overall, the Kings New York Provision has reshaped the measurement standard for office spaces in Midtown Manhattan's modern office towers. By focusing on the usable area, businesses can expect greater transparency, cost efficiency, and accurate representation of the space they lease, ensuring that their needs are met while maximizing productivity and functionality in their workplace.
