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Commercial Leasing Law & Strategy
Sui Generis: Draft Like You Mean It
Lydia Pilch
The automatic acceptance of various boilerplate clauses in commercial leases in the face of jurisprudential modernity and evolving legal approaches is dangerous. The evolutionary exploits of a commercial lease aren’t done yet, nor should they be.
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Commercial Leasing Law & Strategy
NYC Guarantor Liability for Post-Window-Period Rent
Cheryl Ginsburg
In Tamar Equities Corp. v. Signature Barbershop 33 Inc., the Appellate Division analyzed whether the Guaranty Law bars recovery from a guarantor where a commercial tenant’s default initially arose during the Guaranty Law’s window period, but persisted after its expiration.
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Commercial Leasing Law & Strategy
Exploring Debt Restructuring Options for CRE Owners
Michael Criscito
In the dynamic landscape of real estate, commercial real estate owners often find themselves facing financial challenges that necessitate a strategic approach to debt management. In such cases, exploring debt restructuring options becomes a crucial consideration.
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New York Real Estate Law Reporter
Guarantor Liability for Post-Window-Period Rent
Cheryl Ginsburg
In a case of first impression, the Appellate Division, First Department recently addressed a split in the decisions of the lower courts as to the scope of the New York City Guaranty Law.
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New York Real Estate Law Reporter
Co-ops and Condominiums
New York Real Estate Law Reporter Staff
Foreclosure on Lien for Common Charges Not Dismissed
Condominium Entitled to Impose Reasonable Fee for Consent to Hallway Enclosure
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Commercial Leasing Law & Strategy
‘Yellowstone’ Injunctions: Navigating the Wild West of Commercial Lease Disputes
Janet Kljyan and Charles F. Martin III
The Yellowstone injunction is implicated in nearly every lease for commercial real property in the state of New York, yet most landlords and tenants do not know what it is or how it affects them. Below is a succinct overview of its implications so that commercial landlords and tenants can better navigate lease disputes.
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New York Real Estate Law Reporter
Landlord & Tenant Law
New York Real Estate Law Reporter Staff
Illegality Defense Raises Questions of Fact
Good Guy Guaranty Not Released
Exchange of Texts Does Not Constitute Settlement Agreement
Landlord’s Fraudulent Conveyance Claim Against Parking Lot Chain Avoids Dismissal
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Commercial Leasing Law & Strategy
Are Recent Regulations Dooming Franchising?
Marc Lieberstein and Chris Caiaccio
In 2024, franchising may need to overcome and work around the recent government regulation that goes to the very heart of the franchising relationship and the way franchise businesses operate,
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New York Real Estate Law Reporter
Development
New York Real Estate Law Reporter Staff
Boathouse Not an Impermissible Second Dwelling
Reduction In Size Did Not Alter Nonconforming Use Status
Local Ordinance Did Not Prohibit Short-Term Rentals
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Commercial Leasing Law & Strategy
The New Basel Regulations Could Bite CRE
Erik Sherman
If you haven’t heard of Basel III, you’ve got company. International banking regulations aren’t typical beach reading. But some people who have been poring through these new banking regulations are not looking happy.
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The Bankruptcy Strategist
Analysis of Recent Real Estate Sector Bankruptcy Rulings
Andrew C. Kassner and Joseph N. Argentina Jr.
Analysis on distressed real estate cases that present different issues. One involves the debtor’s sale of real estate over the objection of the secured lender. The other involves a debtor’s attempt to enjoin a construction bond company from continuing to pay claims by subcontractors after the filing of the bankruptcy case.
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Commercial Leasing Law & Strategy
Cost Segregation: Don’t Overlook This Valuable Real Estate Tax Strategy
Louis Guay
Whether acquiring, constructing, or remodeling a real estate property, cost segregation remains one of the most powerful strategies to simultaneously optimize cash flow and taxes.
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New York Real Estate Law Reporter
Real Property Law
No Adverse Possession Because Possessor Had No Reasonable Basis for Belief
Quiet Title Claim Dismissed When Claimant’s Deed Was the Product of Scrivener’s Error
Action to Remove Cloud On Title Not Barred By Statute of Limitations
Obstruction of View Not a Nuisance
Unrecorded Easement Binding On Servient Owner With Actual Notice
Nominal Damages Available for De Minimis Encroachment
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Commercial Leasing Law & Strategy
Leveraging Generative Artificial Intelligence In CRE and Law Firm Practice
Joy Holley
In addition to boosting efficiency and productivity, GenAI’s new technological capabilities hold the promise of empowering lawyers to offer more precise and insightful guidance to their clients.
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Commercial Leasing Law & Strategy
Navigating Legal Real Estate Issues in the Cannabis Industry
Andy Sick
This article explores just a few of the major legal opportunities and pitfalls associated with real estate in the cannabis industry, shedding light on some of the potential complexities and issues that businesses and investors may face.
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Commercial Leasing Law & Strategy
Interest Rates Are 2024’s Biggest Unknown
Courtney Fingar
The Federal Reserve stands at a pivotal juncture as it deliberates on its interest rate policy for 2024. In the wake of tumultuous economic shifts brought about by the pandemic, the Fed faces the delicate task of balancing robust economic recovery against inflationary pressures that appear to be subsiding.
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Commercial Leasing Law & Strategy
Pace of Law Firm Leasing Picked Up At End of 2023, But Many Firms Shed Space
Abigail Adcox
As Big Law firms push a return to the office, law firms continue downsizing their physical footprints, in line with a trend of fitting lawyers and staff into less space.
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Commercial Leasing Law & Strategy
Innovative Development Opportunities Abound In Philadelphia Commercial Land Condominiums
Kevin M. Levy and Krystal R. Bordoni-Cowley
While the appetite for building new vertical residential condominium buildings in Philadelphia has slowed since the onset of the pandemic, many commercial developers are now considering early on whether applying a land condominium regime makes sense for integrated development projects.
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New York Real Estate Law Reporter
RLUIPA Claim Is Ripe for Judicial Review When Zoning Board Failed to Hear Appeal
Steven M. Silverberg
In a reversal of the District Court, the Second Circuit Court of Appeals found that the failure of a local Zoning Board of Appeals to hold a hearing on an appeal from the determination of the building inspector, constituted a final determination that was ripe for judicial review.
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New York Real Estate Law Reporter
Real Property Law
New York Real Estate Law Reporter Staff
Forgery Claim Not Barred By Statute of Limitations, Laches, or Equitable Estoppel
Recorded Easement Was Abandoned
No Easement By Implication Where Parcel Had Water Access from a Different Lot
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New York Real Estate Law Reporter
Landlord & Tenant Law
New York Real Estate Law Reporter Staff
Settlement Agreement Did Not Terminate Guarantor’s Obligation
Tenant Failed to Raise Question of Fact About Whether Building Contained Six or More Units and Was Therefore Subject to Rent Stabilization
Landlord Not Entitled to Future Rent from Tenant While Also Enjoying Possession
Guarantor Not Liable for Use and Occupancy
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New York Real Estate Law Reporter
Co-ops and Condominiums
New York Real Estate Law Reporter Staff
Tortious Interference Claim Dismissed
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New York Real Estate Law Reporter
Development
New York Real Estate Law Reporter Staff
City Had Authority Over Tree Removal on Privately Owned Streets
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Commercial Leasing Law & Strategy
Law Firms Embracing ‘Hoteling’ to Save On Office Lease Costs
Anthony Davies
While new to law firms, hoteling strategies are line with the practices of companies in other verticals where hoteling and 100% work flexibility have been successfully in place for some time.
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Commercial Leasing Law & Strategy
Distressed Real Estate Filings to Continue
Andrew C. Kassner and Joseph N. Argentina Jr.
Although interest rates may have peaked, we continue to expect a large volume of distressed real estate debtors to utilize the bankruptcy system over the next couple of years. This article analyzes two recent decisions regarding distressed real estate bankruptcies, both of which involve rights of real estate lenders against proceeds of collateral other than the real estate itself.
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Commercial Leasing Law & Strategy
How CRE’s Asset Classes Performed In 2023
Richard Berger
It was widely believed that the US would be in a recession by now, but that is not the case – it’s one of several 2023 forecasts that didn’t play out exactly how many thought it would.
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Commercial Leasing Law & Strategy
CRE Case Roundup: Analysis of Recent Cases In Commercial Leasing
Stewart Sterk and Scott Mollen
Stewart Sterk, Mack Professor of Law at the Cardozo School of Law and Editor-in-Chief of New York Real Estate Law Reporter and Scott Mollen, partner at Herrick Feinstein provide analysis of recent cases regarding commercial real estate.
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Commercial Leasing Law & Strategy
Fed Holds Rates and Signals Cuts In 2024
Erik Sherman
The news is good. However, it doesn’t look like what some in CRE might want, which is a return to ultra-low interest rates and high leverage.
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Commercial Leasing Law & Strategy
Second Circuit Likely to Deliver Big Win for Commercial Shopping Center Lessor
Michael L. Cook
The U.S. Court of Appeals for the Second Circuit, on remand from the Supreme Court, further remanded to the district court the key issue of whether the Chapter 11 debtor gave “adequate assurance of future performance of” a commercial real property shopping center lease “as required by the Bankruptcy Code after the debtor’s assignment of its lease.
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New York Real Estate Law Reporter
When Is A Real Estate Instrument Filing Fee An Unauthorized Tax?
Cameron Macdonald
Litigation pending in the Suffolk County Supreme Court is challenging fees charged for tax map verifications on real estate instruments filed with the county clerk as unauthorized taxes.
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Commercial Leasing Law & Strategy
Adaptive Reuse of Vacant Office Buildings
David Freylikhman and Sarah E. Michigan
While transforming existing buildings for alternative purposes is not a new concept, this article seeks to explore the feasibility of alternative repurposing options with a focus on pre-existing office buildings; namely, converting vacant office space into vertical farms or cannabis growth operations.
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New York Real Estate Law Reporter
Real Property Law
New York Real Estate Law Reporter Staff
Notice of Pendency Improper In Private Nuisance Action
Incapacity and Undue Influence Challenge to Deed Fails
Authority Entitled to Divert Surface Water
Covenant Restricting Landscaping Changes Enforced
Failure to Record Does Not Invalidate Deed Against Purchaser Charged With Notice
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Commercial Leasing Law & Strategy
Is A Real Estate Instrument Filing Fee An Unauthorized Tax?
Cameron Macdonald
Local governments have significant leeway to charge fees for services they provide their residents. But fee revenue sources can be attractive options for those local governments needing to fill budget gaps without raising taxes.
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New York Real Estate Law Reporter
Eminent Domain Law
New York Real Estate Law Reporter Staff
Attorney’s Fee Awarded On Interest Accruing During Appeal
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New York Real Estate Law Reporter
Landlord & Tenant Law
New York Real Estate Law Reporter Staff
Tenant’s Summary Judgment Motion Denied In Rent Overcharge Proceeding
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Commercial Leasing Law & Strategy
Climate Issues Becoming More Critical for Commercial Real Estate Development
Richard Berger
Considerations for severe weather and climate, in general, have real estate developers putting more focus on how they build and operate. But add to that rising insurance rates, which have dealt a big blow to budgets as premiums continue to climb.
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Commercial Leasing Law & Strategy
PA Court Rules Against Property Owners Alleging Impermissible Spot Zoning
Alan Nochumson and Alex Hamilton
In a recently published opinion, the Pennsylvania Commonwealth Court rejected an appeal brought by neighboring property owners alleging that a local ordinance constituted impermissible spot zoning. In its analysis, the Commonwealth Court emphasized the heavy burden a challenger must meet to overcome the presumptive validity of a zoning ordinance.
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New York Real Estate Law Reporter
Co-ops and Condominiums
New York Real Estate Law Reporter Staff
Summary Judgment Denied In Trespass and Nuisance Claim Against Upstairs Neighbor
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Commercial Leasing Law & Strategy
NYC Local Law 18 On Short-Term Rentals Takes Effect
Matthew A. Ulmann
New York City's Short-Term Rental Registration Law (Local Law 18), which directly impacts the ability of an individual unit owner to rent his or her apartment on a short-term basis, took effect on Sept. 5, 2023.
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Commercial Leasing Law & Strategy
Is the Receiver or Debtor More Likely to Preserve and Maximize the Value of the Property In a Bankruptcy?
Andrew C. Kassner and Joseph N. Argentina Jr.
Many clients are not aware that the Bankruptcy Code provides that, upon the filing of a bankruptcy case, the receiver is required to give back possession of the mortgaged property to the debtor unless the lender obtains an order from the Bankruptcy Court excusing the receiver from this requirement.
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Commercial Leasing Law & Strategy
Evaluating Commercial Leases Post-'Rohrmoos'
Troy “T.J.” Hales and Kimberly A. Cruz
Rohrmoos should encourage lawyers drafting leases, and those in lease disputes, to account for some new practical considerations. The drafting attorney should — if they are not already — include a clause in the lease expressly stating the parties’ covenants are independent from one another.
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New York Real Estate Law Reporter
Local Law 18: A Change to Short-Term Rentals In New York City
Matthew A. Ulmann
On Sept. 5, 2023, the New York City Short-Term Rental Registration Law (Local Law 18) took effect which directly impacts the ability of an individual unit owner to rent his or her apartment on a short-term basis.
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Commercial Leasing Law & Strategy
Are Law Firms’ Real Estate and Tech Spending Invariably at Odds?
Patrick Smith
But in place of the common assumption from the COVID years that real estate and technology spending were inversely related, it’s becoming increasingly clear that the two line items — which trail only talent on the overall cost hierarchy — have a more complex relationship.
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Commercial Leasing Law & Strategy
2024 Could Mark a Turning Point for Office Sector
Philippa Maister
The drumbeat of bad news from the office sector has been so pervasive over the past years that it has almost become a fact of life. But a new report suggests that 2024 could mark a turning point — with the possibility in a few years that demand for office space will exceed supply.
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New York Real Estate Law Reporter
Development
New York Real Estate Law Reporter Staff
Contract Vendee Lacks Standing to Challenge Denial of Permit Application
Board’s Denial of Site Plan Approval Invalidated
Inadequate SEQRA Review Requires Denial of Site Plan Approval
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Commercial Leasing Law & Strategy
Rite Aid Rejects 168 Store Leases As Part of Bankruptcy
Jack Rogers
Unable to absorb the potential cost of federal, state and private lawsuits over allegations that it, along with other drugstore chains, oversupplied prescription painkillers, Rite Aid filed for bankruptcy protection in September.
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New York Real Estate Law Reporter
Real Property Law
New York Real Estate Law Reporter Staff
Prescriptive Easement Counterclaim Dismissed
Implied Easement Claims Rejected
Questions of Fact Preclude Summary Judgment on Adverse Possession Claim
Broker Failed to Establish Implied Contract
Questions of Fact Remained About Whether Encroachment Was De Minimus
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Commercial Leasing Law & Strategy
Second Circuit Erects Barriers to Due Process When Challenging Permit Denials
Stewart E. Sterk
Although the federal constitution protects against deprivation of property without due process, the Second Circuit and federal district courts have erected significant barriers to dues process claims by landowners who challenge municipal permit denials or revocations.
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New York Real Estate Law Reporter
What Is Property for Due Process Purposes?
Stewart E. Sterk
Although the federal constitution protects against deprivation of property without due process, the Second Circuit and federal district courts have erected significant barriers to dues process claims by landowners who challenge municipal permit denials or revocations.
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Commercial Leasing Law & Strategy
Effective Hybrid Work Polices Need To Have Teeth
Anthony Davies
What seemed almost a near certainty a year ago — that law firms would fully and permanently embrace work-from-home — is experiencing a seeming reversal. While many firms have, in fact, embraced hybrid operations, the meaning of hybrid has evolved from “office optional,” to an average required 2 days a week, to now many firms coming out with four-day work week mandates — this time, with teeth.
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