Once famed as the industrial hotspot with factories and warehouses stretching left and right, Dumbo is now considered one of the most prestigious Brooklyn neighborhoods with a booming community of artists, tech businesses, and affluent locals taking over its spacious converted lofts. This modern retail space on Adams Street sits right in the middle of this commotion, offering endless business possibilities to its occupants.
7 days minimum booking
Amenities (3 available)
The local area
The space is between two large bridges connecting Manhattan to Brooklyn and the Brooklyn-Queens expressway, which means constant traffic. However, there is a spacious parking lot minutes away, and the connection via public transport is very convenient.
Licensee shall obtain and keep in full force and effect during the Term a policy of commercial general public liability and property damage insurance with a broad form contractual liability endorsement (covering, without limitation, Licensee's obligations under Section 11 (c)) and coverage for personal injury under which Licensee is named as the insured, and Licensor, Licensor's managing agent, any superior lessors and mortgagees and any other parties which Licensor has provided notice of as of the date hereof are named as additional insureds as listed on Exhibit B (the "Insured Parties"), such policies to be primary in coverage to the full extent thereof without contribution from any insurance which may be carried by Licensor, Licensor's managing agent, any superior lessors or mortgagees or other parties. The minimum limits of liability shall be a combined single limit with respect to each occurrence of not less than $2,000,000.00 and $2,000,000.00 in the aggregate. Licensee shall obtain and keep in full force and effect during the Term all risk property insurance against loss and damage by all risks of physical loss or damage, including fire, sprinkler leakage, windstorm and other risks covered by the socalled extended coverage endorsement insuring the full replacement value of all of Licensee's alterations and property located in the Licensed Area, with a deductible not in excess of $10,000. All insurance required to be carried by Licensee pursuant to this License shall be effected under valid and enforceable policies issued by insurers licensed to do business in the State of New York and rated in Best's Insurance Guide as having a Best's Rating of "A-" and a Financial Size Category of not less than "Vil" or if such ratings are not then in effect, the equivalent thereof. On or prior to the Commencement Date, Licensee shall deliver to Licensor a certification from Licensee's insurance company evidencing the insurance required to be carried by Licensee (on the form currently designated "Acord 27" (Evidence of Property Insurance) and "Acord 25-S" (Certificate of Liability Insurance), or the equivalent, provided that attached thereto is an endorsement to Licensee's commercial general public liability policy naming the Insured Parties as additional insureds) which shall be binding on Licensee's insurance company, and which shall expressly provide that such certification (x) conveys to the Insured Parties all the rights and privileges afforded under the policies as primary insurance, and (y) includes evidence of waivers of subrogation required pursuant to Section 11(b). Licensee shall notify all Insured Parties at least 30 days in advance of any termination of or change to the policies that would affect the interest of any of the Insured Parties. Licensor shall keep the Building insured against damage and destruction by fire, vandalism, and other perils under "all risk" property insurance written on a replacement cost basis. In addition, Licensor shall maintain a policy of commercial general liability insurance for claims for personal injury, death and/or property damage occurring in or about the Building that is consistent with the insurance maintained by owners of first-class office buildings in Manhattan. Notwithstanding the foregoing, in the event Licensor is an institutional owner, then Licensor may elect to self-insure with respect to the insurance coverages required by the terms of this Section. As used herein, the term "institutional owner" shall mean a bank or trust company, a savings bank, a savings and loan association, an insurance company, a college or university, a governmental pension or retirement fund or a pension trust of a publicly-held corporation.