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In an earlier article, Are Yellowstone Waivers Enforceable?, New York Law Journal, April 10, 2014, at 4, col. 1, we explored whether a commercial tenant could waive its common law right to seek a Yellowstone Injunction. At that time, there was no appellate authority directly on point. This all changed on Jan. 31, 2018, when the Appellate Division, Second Department ruled in 159 MP Corp., v Redbridge Bedford, LLC, 2018 WL 635946, 1 (2d Dept 2018) that the “commercial tenants’ voluntary and limited waiver of declaratory judgment remedies in their written lease is valid and enforceable, and not violative of New York’s public policy …”
By Jeffrey Turkel
Real estate practitioners tend to think of covenants that run with the land as absolute. Another way to look at such covenants is that there are contractual in nature, and that contractual provisions can be waived or abandoned, at least by the party that benefits from them. That is what the First Department recently held in New York City Transit Auth. v 4761 Broadway Assocs., LLC.
No Consequential Damages When State Takes Neighbor’s Land
Nonconforming Use Not Discontinued
Developer’s Rico, Estoppel, and Equal Protection Claims Dismissed
Denial of Area Variance Overturned
Affirmative Covenant Enforceable Against Successor Developer
Post-Sandy FEMA Height Requirements Might Make Restrictive Covenant Unenforceable