commercial lease

I am in year 7 of 10 year commercial lease.

I just received notice for proportionate share of real estate taxes. In the lease it states my share of building is 7.5. Lease also states I have 2000 sq ft. I have researched building and it has 44,000 rentable space. My proportionate share should be 4.5. The building isin NYC. Do I have a case to decrease my share of tax increase? thanks Dan

Asked on June 28, 2018 under Real Estate Law, New York

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

If the lease states that your share is 7.5%, then legally, even if not actually, it is 7.5%: you are held to what you contractually (a lease is a contract) agreed to. Having signed the lease and agreed to pay for 7.5% of the space, you have to pay for 7.5%; the time to have questioned the allocation or proporation was before you signed.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.