Mark

OpenAI, the company behind ChatGPT, has secured a full-building lease at 550 Terry A Francois Blvd in San Francisco, marking the city's largest office deal of 2024.

Since giving this any attention I’m at around the 9 month mark.

The way to read "5/25, 10 years maturity" is that the rate is fixed for 5 years, the payment is calculated on a 25 year amortization, and there's a balloon payment due at the 10 year mark. 

Great, thanks Mark! 

@Anthony Zotto how is it a “deal” if owner has no interest in selling?

Hey Anthony, sent you a message, are your tickets still available? 

Hey @Dave Kush , I'm not sure that changing the lease in the middle will work.You can ban it in common areas mid-lease, but it is unlikely the case for the specific unit.Either way, it's a pretty tricky subject...maybe @Mark Ainley can shed some light on issues he had with smoking in Chicago...

@Mark DrouinAny particular reason you don't want to do a refi after the new tenant is placed ?   

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.