LEGAL CORNER: NYC Passes the FARE Act and Restricts the Payment of Commissions by Tenants
The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
YONKERS—Rand Commercial reported on June 7 the lease of the entire second floor at 86 Main St. in Yonkers to Special Citizens Futures Unlimited, Inc. The lease for 11,703 square feet has a 11-year term. The space shall be used as executive and administrative offices serving the firm’s current facilities in the Bronx and in Elmsford.
Rand Commercial is the leasing agent for the building. Michael McCall of CBRE represented the tenant. Rand Commercial’s Debra Binstok and Paul Adler, Esq. represented the landlord in the transaction.
86 Main St. was built in 2005 and renovated in 2017 by AMS Development, the current owner of the building. In addition to available space on part of the fourth floor and the entire sixth floor, the landlord operates an office shared space, which is being relocated from the second floor to the fifth floor.
For more than 40 years, Special Citizens Futures Unlimited has provided comprehensive services to hundreds of men, women, and children with Autism Spectrum Disorders and other Developmental Disabilities. Located in New York City, the Bronx, and Westchester, it provides an array of services including specialized Residential Programs, Day Services, Community-Habilitation, Respite, Life Skills Programs and Recreation.
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