sublessee
sub-lessee

If the tenant winds up not needing the space, it must find a sublessee.

In a number of recent cases, however, the courts seem to have carved out an exception to those requirements when the sublessee is family member.

BUT landlords have an interest in helping secure a sublessee.

I explained to the board that the potential sublessee was a college student and that the parents would be financially responsible.

One sublessee was opening its first New York office; the other was expanding.

Is my brother considered a sublessee?

The purchase gives them a proprietary lease to occupy the space, and they then get a store tenant as a sublessee.

In the meantime, Paul's jealous mother found a sublessee - very much to the dislike of Paul.

A prime tenant typically provides the owner with considerable information about a sublessee for an occupancy that can last only two years.

And a few are again asking for (though rarely getting) recapture rights, so they can write a new, higher-rent primary lease with the potential sublessee.

It is the operating sublessee who is in the best position to profit from near-term growth in rents.

Rejection of a Sublessee Question: I own a co-op apartment in Manhattan.

Once they do, they often find a lawyer for the landlord's mortgage holder or for a big sublessee sitting there as well.

I like creeping past the "Beach Closes at 9 p.m." sign with the furtive air of the illegal sublessee.

Those with a more marketable term often do not want the headache of being a sublessee's landlord - or the risk of having the sublessee default.

"The tenant is required to provide certain information, including a copy of the sublease, the term of the sublet and the identity of the sublessee," he said.

Last year a tenant at 535 Madison Avenue, at 54th Street, asked Mr. Hedman to find a sublessee for 7,700 square feet.

He advises co-ops that do decide to permit subletting to assure themselves of the financial capacity of the sublessee and to put time limits on the permissible sublet period.

Building managers say that people will often come into an apartment as a sublessee, or perhaps a roommate, and hope to inherit it if the primary tenant turns out not to be returning.

So Rockefeller Center Management, the building's owner, agreed to give the new sublessee first rights of refusal on the space when the lease expired - provided they would pay market rates at the time.

Williams Real Estate, which is trying to find a sublessee for about 100,000 square feet of Digital Equipment's space at 2 Penn Plaza, recently held a broker's breakfast to promote the space.

The other $2 million is to go to South Street Seaport Associates, the earlier sublessee, a private group that includes the financial house of Donaldson, Lufkin & Jenrette.

When Chemical Bank wanted to sublease space at 600 Fifth Avenue, at 48th Street, its sublessee, the investment company Reich & Tang, balked at moving for just the six years left on the lease.

Deutschebank, for one, has asked Robert J. Alexander, a senior managing director at Edward S. Gordon Company, to find a sublessee for two floors at 1290 Avenue of the Americas, near 52d Street.

In a down-market, the original lessee may require a lower rent payment from the sublessee than what he or she may have originally paid, leaving the remaining rent owed to the lessor to be paid by the original lessee.