NY Office of State Comptroller #L010171

Award for Long-Term Lease of CUNY Condo Unit at 569 Lexington Ave, New York

This award notice details a long-term lease agreement for a CUNY condominium unit in New York City: - Government Buyer: - City University Accounting Office, City University of New York - Vendor: - 569 LEXINGTON LEASEHOLD LLC - Products/Services Requested: - Long-term lease of the CUNY condo unit at 569 Lexington Ave, New York County - No additional products or services specified beyond the real estate lease - Contract Details: - Original contract value: approximately $67.85 million - Amended total contract value: over $475 million - Lease agreement includes amendments such as a condominium declaration and assignment and assumption - Notable Requirements: - Lease term extended through contract amendments - NAICS code listed as 237110 (Water and Sewer Line and Related Structures Construction), though the primary scope is real estate leasing - Place of Performance: - 569 Lexington Ave, New York, NY (CUNY condo unit location)

Description

This contract is a lease agreement between the City University Accounting Office and 569 LEXINGTON LEASEHOLD LLC for the CUNY condo unit located at 569 Lexington Ave, New York County. The original contract started on August 15, 2022, with an initial amount of approximately $67.85 million and was set to end on August 14, 2053. Amendments have increased the total contract value to over $475 million and extended the contract end date to May 31, 2056. The contract involves a long-term lease with significant financial commitments over the period of performance.

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