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New York’s recently enacted cannabis law, the Marijuana Regulation and Taxation of 2021 (MRTA), created a maze of new legal requirements. These provisions affect not only cannabis companies, but also the companies that conduct business with them. Navigating this maze can be tricky, especially since much of the MRTA conflicts with federal law. One particularly complex area is the regulation of New York real estate as it relates to cannabis companies. Cannabis companies and landowners alike should be wary of the legal pitfalls in this area and seek appropriate legal guidance.
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COVID-19 and Lease Negotiations: Tenant Security
By Ann E. Ryan and Adrienne B. Koch
The pandemic has highlighted vulnerabilities in two of the most popular forms of tenant security — guaranties and cash security deposits. This article examines the impact of the pandemic on each of those types of security and offers some suggestions for landlords going forward.
Real Estate Acquisition Volume on Fast Track, But Leases Slower to Rebound
By Jeffrey M. Gussoff and Adriana M. Peters
Flexibility, creativity, and other tips for commercial leasing as 2021 comes to a close.
Commercial Real Estate Investors Looking for Next Value Play
By Erik Sherman
The rush to such sectors as industrial and multifamily has compressed cap rates, leaving many to reconsider how they measure value and leaning more toward internal rate of return.
Selective Reassessment of Only Commercial Properties Violates the Uniformity Clause
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.
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