Louis Rossmann’s Contractor Nightmare (Real Estate Take Away)

It is imperative to negotiate the maximum amount of free rent when you are responsible for building out your leased commercial space.

Beware: in the event that the free rent stipulated in your lease ends prior to your contractor completing the build-out, you may find yourself paying double rent. You are almost better off agreeing to a somewhat higher base rent in order to maximize the amount of free rent.

While landlords generally do not build out retail spaces for New York City tenants, they may be willing to perform base-level work (a/c installation, plumbing).

As seen in Lous Rossmann’s videos, hiring a reliable contractor that performs quality work and respects deadlines can be a challenge. His videos are a case study illustrating the importance of negotiating the maximum amount of free rent in your commercial real estate lease.

Note that while New York City landlords don’t usually build out retail space (build-out is on the tenant), they often will provide a build-out for office tenants.
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HAVE ANY COMMERCIAL REAL ESTATE QUESTIONS? SEND THEM OVER AND I WILL ANSWER THEM IN FUTURE VIDEOS
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Learn more about New York City commercial real estate at https://www.metro-manhattan.com
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HELP LOUIS ROSSMANN RENOVATE THE NEW STORE:
https://www.gofundme.com/f/rossmann-repair-move-to-new-facility