The Real Deal New York

From the archives: Fighting rubber ruler measurements

Office tenants find ways to avoid charges for hallways and staircases
By Sarah Ryley | January 09, 2016 01:00PM

Rubber RulerEvery industry uses its own metrics. Fabrics come by the yard, gas is sold by the gallon, office space in New York City is rented by the square foot. As it turns out, however, renting precise amounts of office space isn’t quite that simple.

As with most things in the real estate world, New York is in its own universe, one where building sizes sometimes seem to grow and shrink based on market conditions rather than actual physical dimensions. It’s also normal for all sorts of charges, some of which date back to pre-Depression days, to find their way onto leases.

Read the full story from the July 2008 issue here.