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Re: Commercial Lease

Posted by Minty on January 31, 2000 at 17:55:55:

In Reply to: Commercial Lease posted by blass on January 31, 2000 at 15:23:05:

: my roomates and myself moved into a building this August. Basically, the Real estate broker stalled us until the day before we were leaving our apartments, and presented us with a commercial lease, saying take it or leave it. Up until that day, he told us that it was zoned for residential use. We signed the contract, because we had no other choice. In addition, the broker asked us to pay hom half at signing, and half six month's later. The broker recently contactd us to pay. Two questions:1) should we pay the broker [we signed an agreement]. 2) We are the only apartment in the building [the other space is used as a warehouse], are we considered a 'loft' and protected under the loft law?

Get out of there as soon as you can. Run! I know how it is to be in a desperate situation, but if I were you, I would look into getting out of the brokers' fee, since he mislead you with the zoning status. In fact, that was an outright lie.
This is one of those situations where you should just get a lawyer to deal with this shifty broker (maybe the lawyer can also negotiate a new lease, if you're REALLY attached to the place). As for the commercial lease, never forget the landlord can boot you out at any time in the likely event that this residential zoning occurs. Just ask a lot of sadsack people in Williamsburg over the last 6 months - they put their blood, sweat and tears into making these commercial spaces stylin', and then are locked out the next day. I kid you not.
Also, having been recently in a commercial situation, you are entitled to nothing, and much less.
I wish you well.

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