9.22 VIII. Escapes And Extensions

• Jurisdiction: New York

VIII. Escapes and extensions

If the lease your client’s prospective landlord proposes says nothing about subleasing or assignments, your client is free to do either. This, however, would be a rare find in almost any U.S. market. Even in the case of long-term, single-occupant, net lease, landlords typically try to restrict a tenant’s sublease rights. Most landlords are acutely aware of the profit potential subleasing and assignment may offer a tenant. Usually, they’re also...