Please take a moment to review the below as it pertains to applying for space at Industry City and our application process. The entire process takes about 2-3 weeks from the time we receive your application until we can schedule possession. Please note that you will not be able to move in until your license agreement is fully executed, security deposit received and certificate of insurance is on file.
Please fill out the fields with the name that you would like on the license agreement and provide documentation that supports that name. If the license agreement will be in your business’s name, please provide a certificate of incorporation or formation, three (3) months of bank statements and your company’s tax returns from the last two (2) years as well as a W9 form and Certificate of Insurance.
Our license agreements include a Good Guy Guaranty to be signed by an individual. If the license agreement will be in your business’ name, please provide the three (3) most recent months of the individual’s bank statements and the two (2) most recent years of the individual’s tax returns in addition to those of the business. Please also include the relevant information (name, SSN, DOB and home address) of the individual signing the guaranty on the Rental Application. If we determine that the financials are not sufficient for the proposed license agreement, we may ask for an additional guarantor. In this case, the additional guarantor will also need to complete the Rental Application.
Please read and review your license agreement carefully. We will work with our legal department to answer any questions you may have.
You must provide a valid Certificate of Insurance for your specific space before your license agreement will be countersigned. Please forward the requirements to your insurance agent so that they can provide the proper Certificate of Liability Insurance (ACORD 25 If you do not have an insurance broker, see below for a list of suggested providers. Please note: Industry City is not affiliated with, does not recommend, nor takes any responsibility for the companies/brokers listed below. They are merely provided for your convenience:
INSURANCE DETAILS
(a) “all risk” property insurance covering all present and future fixtures and Licensee’s property to a limit of not less than the full replacement cost thereof, which coverage shall include coverage for loss of income based on actual loss sustained for 12 months following the date of causality; (b) commercial general liability insurance, including a contractual liability endorsement, and personal injury liability coverage, in respect of the Licensed Premises and the conduct or operation of business therein, with limits of not less than $1,000,000 per occurrence and $2,000,000 in the aggregate; (c) Worker’s Compensation insurance meeting all state requirements and Employers Liability of not less than $1,000,000 per occurrence; (d) Auto liability insurance not less than $1,000,000 combined single limit, if Licensee uses automobiles in operation of its business; and (e) Umbrella insurance excess of all liability insurance above not less than $2,000,000.
Please name 1-10 Bush Terminal Owner LP, located at 220 36th Street, Suite 2A,
Brooklyn, NY 11232, as the Certificate Holder.
Please have your insurance agent include on the Certificate of Insurance, in the box titled “Descriptions of Operations, Locations” the following language: “Certificate holder,
JAMESTOWN COMMERCIAL MANAGEMENT COMPANY, L.P. and BXMT 2020-FL2, LTD are included as Additional Insured in accordance with the policy provisions of the General Liability policy.”
Additionally, please make sure that the exact location of your space is added to the box
titled “Descriptions of Operations.” An example is as follows: 253 36th Street, 3rd floor,
Suite C301, Brooklyn, New York 11232.
@IndustryCity IndustryCity.com
