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On June 14, 2019, Gov. Andrew Cuomo signed legislation modifying existing rent laws and enacting significant landlord-tenant reforms including the Statewide Housing Security and Tenant Protection Act of 2019 (collectively, the 2019 Rent Laws). To date, the real estate industry has focused primarily on the sweeping impact the new laws will have on residential tenancies and the deregulation of rent-stabilized apartments. The reforms, however, also dramatically impact commercial tenancies by altering non-residential summary proceedings and significantly hampering the ability of commercial landlords to respond effectively and quickly to tenant defaults.
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The COVID-19 pandemic is resulting in landlords and tenants closely reviewing a clause in their lease that was long considered unimportant boilerplate.…
By John G. Kelly
Assignment provisions in commercial leases are heavily negotiated and very important to both landlords and tenants. This article presents a brief overview of the assignment provision in commercial leases, both office and retail.
By Stewart E. Sterk
When does an immediately adjacent neighbor have standing to challenge a SEQRA determination?
By Peter Fass
Real estate syndication offerings often rely on Rule 506 of Regulation D to exempt such offerings from registration under the Securities Act. Rule 506 requires that, with certain limited exceptions, purchasers of the securities offered are limited to accredited investors. Amendments proposed by the SEC in December modify certain of the existing categories of accredited investors and create certain new categories.