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Condominium development has been around since the 1960s and has ramped up in recent years. Within larger parcels where multiple structures or different uses are planned, developers in the greater Philadelphia area are increasingly turning toward a newer form of joint ownership of property to develop large projects: the horizontal, or land, condominium. While the appetite for building new vertical residential condominium buildings in Philadelphia has slowed since the onset of the pandemic, many commercial developers are now considering early on whether applying a land condominium regime makes sense for integrated development projects.
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By Lydia Pilch
The automatic acceptance of various boilerplate clauses in commercial leases in the face of jurisprudential modernity and evolving legal approaches is dangerous. The evolutionary exploits of a commercial lease aren’t done yet, nor should they be.
By Cheryl Ginsburg
In Tamar Equities Corp. v. Signature Barbershop 33 Inc., the Appellate Division analyzed whether the Guaranty Law bars recovery from a guarantor where a commercial tenant’s default initially arose during the Guaranty Law’s window period, but persisted after its expiration.
By Michael Criscito
In the dynamic landscape of real estate, commercial real estate owners often find themselves facing financial challenges that necessitate a strategic approach to debt management. In such cases, exploring debt restructuring options becomes a crucial consideration.
By Janet Kljyan and Charles F. Martin III
The Yellowstone injunction is implicated in nearly every lease for commercial real property in the state of New York, yet most landlords and tenants do not know what it is or how it affects them. Below is a succinct overview of its implications so that commercial landlords and tenants can better navigate lease disputes.