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sublease |
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sublease n. the lease of all or a portion of premises by a tenant who has leased the premises from the owner. A sublease may be prohibited by the original lease, or require written permission from the owner. In any event, the original tenant (lessee) is still responsible for paying the rent to the owner (landlord/lessor) through the term of the original lease and sublease. (See: lease, rent) sublease verb allow the use of, demise, grant a deeise, grant a lease, hire, let out, make available for rent, rent, rent out, sublet, subrent, underlet SUBLEASE. A lease by a tenant to another tenant of a part of the premises held by him; an underlease. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Research and engineering company Scientific Application International Corporation subleased 50,000 s/f of space in 132 West 31st Street from HIP in March 2006. The original building and the expansion are leased to Overland Property Investors LP (leasehold interest has been since sold to Southland-Overland Park Delaware Business Trust) which simultaneously subleased the buildings to BVHC. Among the handful of tenants that came to the building was First New York Securities LLC, a stock-trading firm that subleased the entire fifth floor for rents in the low $50s per s/f. |
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