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New York Real Estate Law ReporterColumns & DepartmentsLandlord Tenant LawLitigation

Landlord & Tenant Law

By New York Real Estate Law Reporter Staff
September 01, 2024

Liquidated Damages Clause Might Constitute Unenforceable Penalty

Elk 33 East 33rd LLC v. Sticky's Corporate LLC 2024 WL 2925641 AppDiv, First Dept. (memorandum opinion)

In landlord's action to collect on the lease, the corporate guaranty, and the good guy guaranty, tenant appealed from Supreme Court's grant of summary judgment to landlord. The Appellate Division remanded for a determination whether the lease's liquidated damages provision constituted an unenforceable penalty, but otherwise affirmed.

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