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For generations, New York’s Rent Control and Rent Stabilization Laws, which limit the amount of rent residential tenants may be charged and provide other protections, have been fixtures of New York real estate. For a time (1945-1963), New York City (the City) had a rent control statute applicable to commercial tenants, but that law expired, after which commercial rent control disappeared from the policy landscape. However, as retail vacancies have multiplied in the City in recent years, some in the City Council have advocated for the reconsideration of commercial rent control, as set out in a proposed piece of legislation, the Small Business Jobs Survival Act (Intro 737). §22-1202, et seq. This article provides a brief, nontechnical review of the bill and the legal and practical hurdles it faces if enacted.
By Glenn A. Browne
When negotiating permitted-use clauses under retail leases, landlords attempt to achieve the most comprehensive limitations possible so as to avoid conflicts with other tenants’ leases and violations of exclusive-use clauses that are maintained by other tenants in the retail facility. Tenants, however, should be very careful to incorporate a certain degree of flexibility and adaptability into their leases’ permitted-use clauses to take into account an evolving landscape.
By Janice G. Inman
The U.S. District Court for the Northern District of New York recently determined that because New York prohibits unlicensed real estate brokers from pursuing payment in its courts for services rendered, a plaintiff who performed real estate work for a client who then did not pay had no standing to sue.
By Paul Fiorilla
Opportunity zones are the latest big thing to hit the commercial real estate market, but many questions remain, including details of how deals can be structured, the best strategy for investing and just how much property there is in the zones.
Expired Lease Terms Don’t Automatically Apply
Landlord Not Liable to Third Party