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At a time when the COVID-19 crisis is causing an unprecedented number of lease defaults, the recent Court of Appeals decision, The Trustees of Columbia University v D’Agostino Supermarkets, Inc., 2020 NY Slip Op 06937, 2020 WL 6875988 (2020), provides both guidance and warnings to attorneys asked to negotiate and litigate leasehold surrender agreements.
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By Adam Leitman Bailey and John M. Desiderio
This article addresses and updates the law on the self-help remedy that enables commercial landlords to regain possession of leased premises from tenants in material breach of one or more lease covenants.
By Erika B. Morphy
If commercial real estate is going to have a successful 2021, it will require the ability to seek out unexpected advantages.
By Warren A. Estis and Alexander Lycoyannis
As the COVID-19 pandemic and its accompanying economic fallout continue to unfold, commercial tenants have increasingly come to rely on the common law doctrines of impossibility of performance and frustration of purpose as defenses to the nonpayment of rent.
By Lucas Ferrara
On Oct. 29, 2020, a Manhattan real-estate firm filed four separate class-action lawsuits highlighting three different maneuvers landlords used to evade the requirements of a tax-abatement program.