New York Commercial Lease Agreement Cost

Clients Rate Lawyers on our Platform 4.9/5 Stars
based on 2,656 reviews

Jump to Section

Need help with a legal contract?

Post Project Now

Post Your Project (It's Free)

Get Bids to Compare

 Hire Your Lawyer

What does a New York commercial lease agreement cost ? This is a common question for commercial property owners in New York who need a lease agreement. So let’s explore this question and review general information about commercial lease agreements and what they need to include.

How Much Does a New York Commercial Lease Agreement Cost?

A commercial lease agreement is a legally binding contract between a landlord and a business entity. The agreement allows a business owner to occupy the landlord’s property to run their business.

The commercial lease agreement will lay out the rental terms and describe each party’s rights and obligations under the contract.

Commercial leases are important real estate documents that must be drafted correctly. The landlord is typically responsible for providing the lease to the tenant, so many landlords choose to hire a New York real estate lawyer to draft a commercial lease agreement.

A lease agreement is used to protect both parties and a real estate lawyer who is familiar with New York lease agreement laws. In addition, it will ensure that the contract includes all vital information necessary to be legally enforceable.

Based on ContractsCounsel's marketplace data, the average cost of a commercial lease agreement in New York is $735.00.

What's Typically Included in a New York Commercial Lease Agreement

Commercial lease agreements can be customized to fit the needs of the landlord and the tenant. These agreements are usually negotiable and will have varying terms and conditions. A basic New York commercial lease should cover the following essential information:

  • Cost of rent. Rent is usually calculated based on the square footage and location of the commercial property. Commercial property in New York City will have higher rent than a property in a smaller town. The cost of rent is also determined by considering whether additional costs like utilities, taxes, insurance, and repairs are included or covered by the tenant.
  • Rent increases. Unlike a residential lease agreement, it is common for commercial leases to include an annual percentage-based rent increase. Tenants can usually negotiate a cap on this increase.
  • Security deposit. Landlords have the right to require a security deposit and put a security deposit agreement in place. Therefore, it is important to outline the deposit amount and how it will be returned upon termination of the lease agreement.
  • Duration of the lease. Commercial lease agreements are usually longer than residential lease agreements. Therefore, if the tenant wants a shorter lease term, the landlord will typically charge a higher monthly rent.
  • Additional expenses. The lease needs to state which party is responsible for the cost of utilities, taxes, repairs, and maintenance.
  • Property description. A commercial lease needs to describe the property being rented in detail. For example, some buildings may have bathrooms or shared areas not covered under the lease agreement. A clear description of the property will allow the tenant to know which areas they can access.
  • Signage. Commercial property is rented so the tenant can operate their business. A sign is essential for a business, so the lease agreement must include where and how signs can be displayed.
  • Use clause. A Use Clause is added to a commercial lease agreement to define how tenants can use the property for their business. This clause protects the landlord and their property from damage and liability.
  • Exclusivity clause. Commercial property is uncommon to be a complex that can house several businesses. An exclusivity clause or an exclusivity agreement protects the tenant because it prevents the landlord from renting space to any potential competitors to the tenant's business.
  • Compliance with the Americans with Disabilities Act (ADA). All businesses in the United States that are open to the public and have more than fifteen employees must comply with the ADA. This means the property must be accessible to people with disabilities. A commercial lease will dictate which party is responsible for updating the property to meet these standards.
Meet some lawyers on our platform

Jeremiah C.

37 projects on CC
View Profile

George L.

1 project on CC
View Profile

Sunnita B.

15 projects on CC
View Profile

Briana C.

39 projects on CC
View Profile

Examples of New York Commercial Lease Agreement Projects

Commercial Lease Agreement Drafting

Suppose a New York property owner needs a commercial lease. In that case, they should contact a commercial real estate lawyer familiar with New York lease agreement laws.

At the initial consultation, the lawyer will learn about the landlord, the property, and the type of lease the landlord wishes to use. Then the attorney can draft a lease agreement that fits the landlord's specifications.

A commercial lease agreement needs to be drafted correctly to protect the rights of both the landlord and the tenant. A knowledgeable real estate lawyer will know what clauses should be included in the lease to protect both parties and be legally enforceable under New York laws.

Commercial Lease Agreement Review

Before a tenant signs a commercial lease agreement, it is recommended that they have the agreement reviewed by their attorney. This is because lease agreements are almost always drafted by the landlord and tend to favor the landlord's interests more than the tenant's.

Suppose a tenant has their attorney review the lease. In that case, the attorney will suggest revisions and clauses that benefit and protect the tenant. The lawyer can even negotiate updated terms on the tenant’s behalf.

Drafting a New York Commercial Lease Agreement Cost

Drafting a commercial lease agreement can be complicated, and negotiations may require lawyers to draft several versions of a single lease.

According to ContractsCounsel's marketplace data, the average commercial lease agreement drafting costs in New York are $775.00.

Reviewing a New York Commercial Lease Agreement Cost

If tenants hire an attorney to review their lease agreement, they will be responsible for the legal fees. However, the lawyer will use their time and expertise to ensure the contract is fair and the tenant is protected.

ContractsCounsel's marketplace data shows the average commercial lease review costs in New York to be $721.67.

How Do New York Lawyers Charge for a Commercial Lease?

Hourly Rates for a Commercial Lease

When a lawyer uses an hourly rate fee agreement, they bill their client for the number of hours a case or project takes at a set hourly rate. The hourly rate should be communicated to the client before any work is done.

The lawyer can also bill their employees' work as paralegals or office staff do.

The marketplace data for ContractsCounsel shows that the average hourly rate for a New York real estate lawyer ranges from $200 - $350 per hour.

Flat Fee Rates for a Commercial Lease

When using a flat fee rate structure, the lawyer will assess the task and provide the client a flat fee to complete the job. Clients like this fee arrangement because they know exactly what they need to budget for legal fees.

ContractsCounsel's marketplace data shows that the average flat fee rate for a commercial lease agreement in New York costs $735.00.

Get Help with a New York Commercial Lease Agreement

Do you need help with a New York commercial lease agreement project? If so, post a project in ContractsCounsel’s marketplace to receive flat fee bids from real estate lawyers who are licensed to practice law in New York. All lawyers on the ContractsCounsel’s platform are vetted by our team to make sure you are provided with top tier service.

How ContractsCounsel Works
Hiring a lawyer on ContractsCounsel is easy, transparent and affordable.
1. Post a Free Project
Complete our 4-step process to provide info on what you need done.
2. Get Bids to Review
Receive flat-fee bids from lawyers in our marketplace to compare.
3. Start Your Project
Securely pay to start working with the lawyer you select.

Meet some of our Lawyers

View Rebecca
Member Since:
April 6, 2021

Rebecca L.

Attorney/Owner
Free Consultation
Get Free Proposal
San Diego, CA
11 Yrs Experience
Licensed in CA, DC, VA
New England School of Law

I absolutely love helping my clients buy their first home, sell their starters, upgrade to their next big adventure, or transition to their next phase of life. The confidence my clients have going into a transaction and through the whole process is one of the most rewarding aspects of practicing this type of law. My very first class in law school was property law, and let me tell you, this was like nothing I’d ever experienced. I remember vividly cracking open that big red book and staring at the pages not having the faintest idea what I was actually reading. Despite those initial scary moments, I grew to love property law. My obsession with real estate law was solidified when I was working in Virginia at a law firm outside DC. I ran the settlement (escrow) department and learned the ins and outs of transactions and the unique needs of the parties. My husband and I bought our first home in Virginia in 2012 and despite being an attorney, there was so much we didn’t know, especially when it came to our HOA and our mortgage. Our real estate agent was a wonderful resource for finding our home and negotiating some of the key terms, but there was something missing in the process. I’ve spent the last 10 years helping those who were in the same situation we were in better understand the process.

View Samantha
Member Since:
April 15, 2021

Samantha B.

Principal and Founder
Free Consultation
Get Free Proposal
Chicago
8 Yrs Experience
Licensed in FL, IL
Ave Maria School of Law

Samantha has focused her career on developing and implementing customized compliance programs for SEC, CFTC, and FINRA regulated organizations. She has worked with over 100 investment advisers, alternative asset managers (private equity funds, hedge funds, real estate funds, venture capital funds, etc.), and broker-dealers, with assets under management ranging from several hundred million to several billion dollars. Samantha has held roles such as Chief Compliance Officer and Interim Chief Compliance Officer for SEC-registered investment advisory firms, “Of Counsel” for law firms, and has worked for various securities compliance consulting firms. Samantha founded Coast to Coast Compliance to make a meaningful impact on clients’ businesses overall, by enhancing or otherwise creating an exceptional and customized compliance program and cultivating a strong culture of compliance. Coast to Coast Compliance provides proactive, comprehensive, and independent compliance solutions, focusing primarily on project-based deliverables and various ongoing compliance pain points for investment advisers, broker-dealers, and other financial services firms.

View Pritesh
Member Since:
April 19, 2021

Pritesh P.

Chief Legal Officer
Free Consultation
Get Free Proposal
Chicago, Illinois
14 Yrs Experience
Licensed in IL
Western Michigan University Cooley Law School

Experienced General Counsel/Chief Legal Officer

View Richard
Member Since:
April 21, 2021

Richard G.

Attorney
Free Consultation
Get Free Proposal
Massachusetts
1 Yr Experience
Licensed in MA
Massachusetts School of Law

Attorney Gaudet has worked in the healthcare and property management business sectors for many years. As an attorney, contract drafting, review, and negotiation has always been an area of great focus and interest. Attorney Gaudet currently works in Massachusetts real estate law, business and corporate law, and bankruptcy law.

View Ayelet
Member Since:
June 8, 2021

Ayelet F.

Attorney
Free Consultation
Get Free Proposal
Coral Springs, FL
9 Yrs Experience
Licensed in FL
Nova Southeastern University

Ayelet G. Faerman knows what influencers mean to brands today. With experience as legal counsel for a beauty brand for over 5 years, and overseeing multiple collaborations, Ayelet has experienced the rise of influencer marketing. As the founder and managing partner of Faerman Law, PA her practice focuses on influencer relations including a specialization in contract negotiations.

View Robert
Member Since:
May 12, 2021

Robert D.

Attorney
Free Consultation
Get Free Proposal
Ohio
24 Yrs Experience
Licensed in OH
University of Akron School of Law

I am a general practice lawyer with 21 years of experience handling a wide variety of cases, both civil and criminal

View Melissa
Member Since:
May 27, 2021

Melissa G.

Trademark and Business attorney
Free Consultation
Get Free Proposal
Fort Lauderdale
10 Yrs Experience
Licensed in FL
University of Miami School of Law

Melissa D. Goolsarran Ramnauth, Esq. is an experienced trial-winning trademark and business attorney. She has represented large businesses in commercial litigation cases. She now represents consumers and small businesses regarding federal trademarks, contracts, and more. Her extensive litigation knowledge allows her to prepare strong trademark applications and contracts to minimize the risk of future lawsuits.

View George
Member Since:
June 21, 2021

George B.

Attorney
Free Consultation
Get Free Proposal
Detroit, MI
9 Yrs Experience
Licensed in MI
Western Michigan University - Cooley Law School

I help start-ups, small businesses, and people realize their potential by leveraging my legal and technological experience. Legally skilled in employment law, intellectual property, corporate law, and real estate transactions.

View Ryan
Member Since:
June 8, 2021

Ryan W.

Attorney
Free Consultation
Get Free Proposal
Mechanicsburg, PA
12 Yrs Experience
Licensed in PA
Widener University Commonwealth School of Law

Ryan A. Webber focuses his practice primarily on Estate Planning, Elder Law, and Life Care Planning. His clients range from young families concerned about protecting their family as well as aging individuals. Ryan provides Estate Planning, Trust Planning, Special Needs Planning, Public Benefit Planning, and Estate Administration. Ryan focuses on the holistic approach to the practice of elder law which seeks to ensure clients are receiving good care when needed and that they preserve enough assets with which to pay for such care. Many families and individuals also come to Ryan for preparation of their wills, power of attorney, and healthcare guidance documents. Additionally, Ryan assists small and medium sized business owners with their organizational and planning needs. From starting or winding down a business, Ryan provides quality business advice.

View Jonathan
Member Since:
June 21, 2021

Jonathan G.

Attorney
Free Consultation
Get Free Proposal
Lakewood, CO
9 Yrs Experience
Licensed in CO, TX
Texas Tech University School of Law

Small Business Attorney licensed in Texas and Colorado. Based in Dallas, appointments available in DFW area.

Find the best lawyer for your project

Browse Lawyers Now

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call