Morrison Cohen Negotiates Consent to Sublease for Client
April 10, 2017 – Morrison Cohen LLP successfully negotiated a consent to sublease for a real estate developer client. Pursuant to a master lease for certain retail and basement space the client’s predecessor had entered into in 1981, the client had the right to sublease the space to a restaurant as long as it obtained consent from the landlord cooperative board, which consent could “not be unreasonably withheld.” The client found a potential subtenant in Sweetgreen New York, LLC, a counter-service chain specializing in salads, but its first two applications to the coop board for consent to sublet to Sweetgreen were rejected.
Morrison Cohen then entered the negotiations on behalf of the client and helped resolve impasses on various issues such as noise, odors, delivery times and hours of operation. After several rounds of negotiations, the client, Sweetgreen and the coop board were finally able to agree on a sublease whose terms were acceptable to all parties. The client received an executed consent to sublease from the coop board on March 27, 2017.