New York Commercial Lease Agreement (2026)

Lease retail, office or industrial space: gross, modified gross or triple-net with pro-rata pass-throughs, rent escalation, renewal options, TI allowance, insurance, default and holdover terms, plus your state's deposit rule, statutory disclosures, landlord's lien, cure periods, rent taxes and signing formalities.

Updated September 11, 2026≈ 14 minReviewed against N.Y. Gen. Oblig. Law § 7-103 · N.Y. Real Prop. Acts. Law § 711 · N.Y.C. Admin. Code § 11-701

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What you'll get

Sample first page of the Commercial Lease Agreement. Your answers fill in the blanks; the clauses required in New York are added automatically.

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What this document covers

Landlord, tenant and optional personal guarantor
Retail, office or industrial premises with rentable area and pro-rata share
Term, rent commencement and renewal options
Base rent with fixed or CPI escalation
Gross, modified gross or triple-net (NNN) pass-throughs
Security deposit under the state rule
Permitted and exclusive use, hours, ADA compliance
Tenant improvements and maintenance split
Assignment, subletting, insurance and indemnity
Default, remedies, landlord's lien and holdover
SNDA, estoppel, relocation and broker disclosure
State disclosures, exhibits and guaranty

New York rules that this document follows

Commercial security deposit	must be held in trust, not commingled; no cap on the amountSource: N.Y. Gen. Oblig. Law § 7-103
Default notice before eviction	14 days' notice for nonpayment (statutory; cannot be shortened)Source: N.Y. Real Prop. Acts. Law § 711(2)
Landlord's lien on tenant property	Varies — No statutory lien — contractual security interest onlySource: No statutory landlord's lien — distress for rent was abolished in New York; a contractual security interest may be granted and perfected under UCC Article 9
Tax on commercial rent	Local tax — New York City Commercial Rent Tax: tenants of premises in Manhattan south of the center line of 96th Street with annual base rent of $250,000 or more pay 6% of base rent less a 35% reduction (effective 3.9%); small-business credit exempts tenants with rent under $500,000 and income of $5 million or less; quarterly and annual returns (June 20). Elsewhere in the State no rent tax applies.Source: N.Y.C. Admin. Code § 11-701
Notary / recording for long leases	Varies — No notary for validity; record leases over 3 years (memorandum permitted)Source: N.Y. Real Prop. Law § 291
Required lease disclosures	None specific to commercial leasesSource: N.Y. Real Prop. Law; Real Prop. Acts. Law art. 7

Rules current as of 2026-09-14. Statutes change; verify before relying on them.

How to use this Commercial Lease Agreement in New York

Start with the exact legal names of both entities and decide on a personal guaranty. Enter the rentable area of the premises and the building — that ratio becomes the tenant's share of taxes, insurance and CAM in a modified gross or NNN lease — then set the term, rent commencement, renewal options and escalation. Choose the maintenance split and insurance limits deliberately: they are the clauses that cost money later.

Answer the state-disclosure questions, review the cure periods (pre-filled with New York's statutory figures where they exist) and decide whether to waive the landlord's lien for the tenant's equipment lender. Record a memorandum of lease for terms over 3 years (N.Y. Real Prop. Law § 291). Budget for the rent tax (N.Y.C. Admin. Code § 11-701). Both parties sign with name and title; attach the floor plan, work letter, guaranty and rules.

Frequently asked questions

Is a commercial security deposit regulated in New York?

Partly — New York requires the deposit to be held in trust and not commingled (N.Y. Gen. Oblig. Law § 7-103), but sets no cap or return deadline; this lease adds a 30-day return term.

How much notice must I give a commercial tenant before eviction in New York?

New York requires 14 days' written notice before an eviction action for nonpayment (N.Y. Real Prop. Acts. Law § 711(2)); the period cannot be shortened by the lease.

Is there a tax on commercial rent in New York?

Yes. New York City Commercial Rent Tax: tenants of premises in Manhattan south of the center line of 96th Street with annual base rent of $250,000 or more pay 6% of base rent less a 35% reduction (effective 3.9%); small-business credit exempts tenants with rent under $500,000 and income of $5 million or less; quarterly and annual returns (June 20). Elsewhere in the State no rent tax applies. (N.Y.C. Admin. Code § 11-701). The lease makes it additional rent.

Does a commercial lease need a notary or witnesses in New York?

No notary is needed for validity; a lease over 3 years should be recorded (usually as a memorandum of lease, which needs acknowledgment) to bind future buyers and lenders (N.Y. Real Prop. Law § 291).

What is the difference between a gross and a triple-net (NNN) lease?

In a gross lease the base rent covers taxes, insurance and common-area maintenance, so the landlord bears cost increases. In a triple-net lease the tenant pays its pro-rata share of those three items on top of base rent, reconciled annually against actual costs. Modified gross sits between: the tenant pays only increases over a base year. This lease drafts all three.

Other names

commercial lease
business lease agreement
retail lease
office lease
industrial lease
warehouse lease
triple net lease
NNN lease
gross lease
storefront lease

Other states

FormsByState provides self-help document templates and general information, not legal advice. We are not a law firm. For advice about your situation consult a licensed attorney in your state.