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In a dispute over West Side development, the First Department handed a victory to developers seeking to build a 39-story building on the block between West 65th and West 66th Street, and Columbus Avenue and Central Park West. (City Club of New York v. New York City Board of Standards and Appeals, 202 WL 3083700). Together with the First Department’s previous decision in favor of the developer in the 200 Amsterdam Avenue case (see, Paul D. Selver and James P. Power, “Appellate Division Overturns Supreme Court Order to Partially Demolish 55-Story Building” in this newsletter’s LJN sibling New York Real Estate Law Reporter, May 2021), the City Club case highlights the extreme deference appellate courts accord Board of Standards and Appeals (BSA) determinations interpreting New York City’s extraordinarily complex zoning scheme.
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By Alan Nochumson and Clementa Amazan
The Commonwealth Court of Pennsylvania recently analyzed whether the City of Philadelphia’s selective reassessment in tax year 2018 of only commercial properties at current market value violated the Uniformity Clause and the Assessment Law’s requirement that the City assess all properties annually at actual market value.
By Ann E. Ryan and Adrienne B. Koch
First in series of articles that will examine specific aspects of the COVID shift in which commercial lease negotiations are seeking protection against unlikely events. Part 1 focuses on casualty provisions.
By Beau Jones
Before investors get too carried away by the news of recovery in commercial real estate, they should pause to ask themselves, “what are we recovering from?”
By Melea VanOstrand
The South Florida office market has seen a shift due to COVID, with some downsizing and modifications of office buildings, but the influx of new potential tenants has helped mitigate any potential downsides other markets may have seen.