Terms for 670 Montauk Highway-The Water Mill SquareRear Restaurant-Space EThe following are the terms for the above captioned address.Use: Restaurant/Bar and outdoor seating areaStart date: Upon lease signingRent: $100,500 per year in equal monthly installments of $8375 or $6000 per month September through May, $15,500K a month June through August. Escalations: 3% year 2 onTerm: 5 years with a 5 year option Taxes: proportionate share of tax escalations over the base year 2017.Concession: the early of 60 days from lease signing or the day open for business, by no means later than April 1, 2017.Assignment: Tenant may assign lease with landlords consent4 months rent ($33,500) as security and the 1st months rent at lease signing. $25,000 equipment leasing fee at lease signing.Premise delivered "as is." Landlord not responsible to maintain/replace any appurtenance or building system or upgrade any: electric, plumbing, door or window/window frame. Landlord responsible for roof and exterior walls everything else tenant responsibility. Tenant pay for its own: grease trap and septic, utilities and garbage removal (all discreet to its business),Premise delivered with trade fixtures for bar and restaurant and when tenant surrenders it agrees it will contain the equivalent or better eqt. 90 day full performance Good Guy Guarantee by principals
Courtesy of: Douglas Elliman Hampton Bays
Office Phone: 631.723.2721
Listing Agent: Hampton Bays Office
Updated: 20th June, 2018 5:49 AM.
670 Montauk Highway Water Mill, NY