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The New York Court of Appeals’ recent decision in Peyton v. BSA held, in the context of a zoning lot containing several residential buildings, that the Zoning Resolution of the City of New York does not require an area to be accessible to all residents of the zoning lot for the area to qualify as “open space.” Holding that the relevant language of the Zoning Resolution is ambiguous, the Court deferred to the zoning interpretation of the Department of Buildings and Board of Standards and Appeals, which have long interpreted the Zoning Resolution as permitting an open space area to be accessible to some, but not all, of the residential buildings on the zoning lot, provided that the residents of each building have access to a proportionate amount of open space on the zoning lot. This article describes the zoning issue decided in Peyton, discusses the implications of Peyton for development on multi-building zoning lots (which often occur as a result of the “assemblage” of development rights through a zoning lot merger), and presents observations as to why zoning litigation of this kind has such high stakes, not only for the individual property owner but for other property owners who have constructed buildings based on a widely applicable DOB zoning interpretation called into question by a zoning challenge to a single building.
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Sui Generis: Negotiate Like You Mean It
By Lydia Pilch
As further follow-up regarding tracking of the lifecycle of a commercial lease, Part Two of this series addresses various negotiation events, strategies, desired outcomes and potentially low key disasters.
New York’s Guaranty Law Continues to Divide Opinion
By Matthew J. Schenker and Joshua Kopelowitz
This article discusses the recent developments surrounding the constitutionality of New York's Guaranty Law. In particular, we address the Southern District’s view that the statute is unconstitutional and the splintered view of the statute’s constitutionality expressed by New York State courts.
Don’t Get Caught Holding a Conditional Loan Approval at Closing
By Matthew Kramer
With rising interest rates and more stringent lending standards for both residential and commercial properties, security deposit disputes caused by buyers’ inability to satisfy pre-closing purchase-financing conditions are also increasing.
New York’s Seldom Used Expedited Money Judgment Mechanism: CPLR 3213
By Massimo F. D’Angelo and Gregory Wong
In New York state and local court cases, there is a seldom-used procedural mechanism for obtaining an expedited money judgment against a guarantor. This article provides an overview of CPLR 3213 motions, an update on the resolution of the split that previously existed between the New York State Supreme Court, Appellate Division, First and Second Departments, and practical guidance for transactional counsel drafting commercial leases and guaranties.