1442 Fleet St Notes

Standard Questions

How much? How big?

• $8000/month for the whole 15,000 square feet. If they are unable to find a tenant to take the entire space they will consider ~$2,000 / month for each ~3,750 square foot floor. We don't know when they will give up the search for a full building tenant.

What power is available?

• 125 amps @ 240v for the whole building. Separate metering for each floor. No three phase. Box is relatively modern.

What kind of utilities are included (wireless, water, electric)?

• None. There is a gas heater on each floor. No AC. The upper floors were pretty warm.

What is the approx cost of utilties?

• Unable to give us any estimate of average water or electric bill.

Can we weld, cut, grind materials in here?

• First floor has concrete floors, but floors 2 through 4 are wooden and we'd need to put something down to weld on those floors. The second floor has an area that is tiled, maybe 12' x 20'?

Do we have roof access? Can we put antennas on the roof?

• Yes.

Policies regarding alcohol

•  ?

Closest source of pizza/beer?

• A few blocks from Little Italy and Fell point bars

Lease length. Early termination fee?

• Looking for long term lessee. At least 1-2 years.

Security deposit, first/last months rent?

• Two month rent for security deposit. ($16,000 for whole building, $4,000 for one floor)

Policy on number of keyholders?

• Will need to register names and addresses of key holders.

Is liability insurance required, if so how much?

• Yes. Unsure of the minimums, but a million common.

Hours we can access?

• 24 / 7

What are the neighbors like?

• Not really any interesting neighbors. Noise shouldn't be a problem at any time.

Bathroom facilities/water access (slop sink?)

• One bathroom on the 1st floor, one on the 3rd floor with a sink and toilet.

What kind of alterations to the space are allowed?

• I'm sure permanent alterations would require permission.

Landlord enthusiasm scale (How much do they care/like what we're doing?) from 1 to 10, 1 being hate us, 10 being willing to donate cash or space, 5 being neutral.

• 4.8 (Jon's estimation)

Other notes

• The building is owned by an older woman and her daughter is helping her to lease the place. They aren't interested at all in selling. They would much prefer to lease the entire space, but if they can't make that work, they're willing to consider leasing on a floor by floor basis for roughly $2,000 a floor.
• They're planning to replace all of the windows "soon" and add a second entrance that would lead directly to the stairs, that way renters on the upper floors wouldn't need to pass through the first floor.
• Sub leasing could be a possibility, but they don't sound too keen on the idea.
• There is a sprinkler system
• Patrick arranged the visit and Matt, Steve, Sylvia, and Jon attended.
• Matt took some pictures