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Commercial Leasing Law & Strategy
Foreclosure Statute of Limitations
Stewart E. Sterk
In a set of foreclosure cases decided in late February, the Court of Appeals resolved some of the questions that have plagued New York’s court system in the aftermath of last decade’s mortgage crisis.
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Commercial Leasing Law & Strategy
10 Tips for Navigating the Commercial Tenant Bankruptcy Process
Stephanie C. Lieb and Alexander Zesch
Retail, entertainment and hospitality have been hit particularly hard by government-mandated COVID-19 shutdowns. For many, the road ahead will end in, or lead through, bankruptcy. Bankruptcy law has a language of its own, making it challenging to navigate the process for everyone involved, including for the landlords of bankrupt businesses worried about missing rent payments.
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New York Real Estate Law Reporter
Foreclosure Statute of Limitations
Stewart E. Sterk
In a set of foreclosure cases decided in late February, the Court of Appeals resolved some of the questions that have plagued New York’s court system in the aftermath of last decade’s mortgage crisis.
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Commercial Leasing Law & Strategy
Commercial Landlords Look to Make Buildings Safe During and After COVID-19
Les Shaver
Adaption was a critical skill for many commercial real estate firms throughout the pandemic. Companies had to hustle to get the supplies to protect their employees and residents. They’re not only thinking about what can protect their occupants from COVID, but what high-tech investments can make their buildings healthier in the future.
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New York Real Estate Law Reporter
Real Property Law
Claim That Bank Lacked Standing to Foreclose Waived By Failing to Raise Standing In Answers or Pre-Answer Motions
Seller Denied Summary Judgment on Purchaser’s Fraudulent Inducement Claim
Fraudulent Transfer Claim Reinstated
Questions of Fact Preclude Summary Judgment on Counterclaim for Improper Diversion of Water
Supreme Court Improperly Denied Specific Performance to Purchasers
Delay In Vacating a Default Justifies Application of Laches Doctrine to Prior Mortgagee
Mortgagor Who Failed to Appear Not Entitled to Vacate Foreclosure Sale
Judgment Lien Enforced Despite Error In Docketed Amount
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Commercial Leasing Law & Strategy
Landlords Could See Courts Sympathetic to Tenants In Eviction Lawsuits
James D. Silver
While residential cases will grab the headlines, commercial property owners, managers and their attorneys should know that financially troubled tenants will be making news of their own. Armed with the hope of keeping their business afloat, they will unveil, or expand on, defenses to mitigate the pandemic’s financial impact and to save their leases.
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New York Real Estate Law Reporter
Landlord & Tenant Law
Tenant Entitled to Terminate Lease When Premises Were Not Broom Clean
Provision Ending Discounted Rate If Tenant Pays Late Is Unenforceable
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Commercial Leasing Law & Strategy
Law Firms Taking Advantage of Tenant’s Market In Office Space
Meredith Hobbs
Law firms are waiting to see how new trends like working remotely play out for office space post-pandemic, but that wait-and-see approach has created a tenant’s market with opportunities for proactive firms in the short term.
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New York Real Estate Law Reporter
Development
NYRE Staff
Use Variance Denial Upheld
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New York Real Estate Law Reporter
Real Property Law
NYRE Staff
Owner Entitled to Cancellation of Notice of Pendency Upon Posting of Bond
Mortgage Enjoys Priority Over Homeowners Association Lien for Common Charges
Bona Fide Purchasers Protected When They Had No Notice of Alleged Fraud
Failure to Inspect Premises Precludes Purchasers’ Claim for Fraud
Broker Conflicts of Interest Did Not Constitute Breach of Contract or Breach of Fiduciary Duty
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New York Real Estate Law Reporter
Co-ops and Condominiums
NYRE Staff
Sponsor Liable for Fraudulent Conveyance to Related Entities
President of Unincorporated Condominium Association Not Entitled to Indemnification
Legal Malpractice Claim Dismissed
Use of Commercial Unit Did Not Violate Zoning Regulations or Condominium Bylaws
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New York Real Estate Law Reporter
Development
NYRE Staff
Village Lacked Power to Obligate Village Board to Enact Zoning Amendments
Landowner Entitled to Certificate Confirming Pre-Existing Nonconforming Use
Neighbor’s Challenge to Approval of A Building Permit Dismissed As Untimely
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Commercial Leasing Law & Strategy
Can Landlords and Tenants Stipulate to Rent Regulation?
Jeffrey Turkel
Legal disputes as to the rent regulated status of an apartment are as old as rent regulation itself. On occasion, landlords and tenants have purported to “agree” in a lease or stipulation as to whether a unit is regulated. This article surveys case law as to how courts treat such agreements.
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Commercial Leasing Law & Strategy
NY Court Rewrites Rules On Liquidated Damages In Surrender Agreements
Adam Leitman Bailey and Dov Treiman
In a recent decision, the NY Court of Appeals handed down a decision with a new interpretation of the law of liquidated damages with regard to surrender agreements. Trustees of Columbia v. D’Agostino rewrites the rules of when a tenant simply gives up on the space.
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Commercial Leasing Law & Strategy
Drawing the Line Between Real Property and Personal Property In the UCC
Barbara M. Goodstein
The back-and-forth is certainly confusing, but what is clear is that it can be unclear exactly where the line between real property and personal property should be drawn.
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Commercial Leasing Law & Strategy
Law Firms Looking to Retail Space and Other Office Alternatives Post-Pandemic
Brenda Sapino Jeffreys
The prospect of using retail space for law offices is the latest adaptation, in addition to innovations such as hoteling and other forms of shared workspace, that may define law firm offices in the future as the COVID-19 pandemic makes a permanent mark on how firms configure and run their offices.
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New York Real Estate Law Reporter
Open Space Accessibility and the Conundrum of High Stakes Zoning Disputes
By Philip E. Karmel, James P. Colgate and Judith M. Gallent
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.”
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New York Real Estate Law Reporter
Real Property Law
Stewart Sterk
Neighbors Lack Sufficient Interest to Intervene In Modification of Restriction on Land Held for Charitable Purposes
Absence of Property Description Did Not Preclude Equitable Mortgage
City Entitled to Cancel Contract With Delinquent Former Owner When Owner Failed to Appear At Closing
Statute of Limitations Does Not Bar Continuing Nuisance Claim Against Drilling Contractor
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New York Real Estate Law Reporter
Landlord & Tenant Law
Stewart Sterk
Guaranty Did Not Extend Past Lease Term
Holdover Rent Award Reduced
Tenant Is Entitled to Yellowstone Injunction Despite Failure to Attempt to Cure
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New York Real Estate Law Reporter
Co-ops and Condominiums
Stewart Sterk
Shareholder’s Failure to Seek Relief During Cure Period Bars Preliminary Injunction
Non-Purchasing Senior Citizens Not Protected Against Eviction Upon Conversion
Occupant of Rent Stabilized Co-Op Unit Entitled to Succession Rights
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Commercial Leasing Law & Strategy
Open Space and the Conundrum of High Stakes Zoning Disputes
Philip E. Karmel, James P. Colgate and Judith M. Gallent
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.”
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Commercial Leasing Law & Strategy
NY Court of Appeals Rules on Damages Clauses In Commercial Leases
Linton Mann III and William T. Russell Jr.
In The Trustees of Columbia University in the City of New York v. D’Agostino Supermarkets, the NY Court of Appeals split on the issue of whether the relevant damages clause in a commercial lease was unenforceable as a matter of law because it was so grossly disproportionate to the ascertainable amount due upon full performance.
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Commercial Leasing Law & Strategy
The Small Business Reorganization Act: How It Started. How it’s Going. Where to Next?
Jack O’Connor
This article provides a brief overview of the SBRA and these first several months of its use — especially in light of the COVID-19 pandemic — concluding that in 2021, Congress should permanently adopt the CARES Act’s expanded definition of a “small business debtor” as including businesses with up to $7.5 million in aggregate non-contingent liquidated debts.
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Commercial Leasing Law & Strategy
Challenges for Real Estate Lenders When Borrowers Default
Jeffrey Steiner and David Broderick
During periods of distress in the real estate industry, if a lender is not going to enter into a consensual workout or loan restructuring with their defaulted borrower, the lender will be presented with the choice of either enforcing rights under its loan documents or marketing and selling the distressed loan.
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Commercial Leasing Law & Strategy
Law Firms Renegotiating Leases to Reflect ‘New Normal’
Justin Henry
As their commercial leases approach expiration and renewal, law firms are renegotiating the future of in-office legal work. For many, the “new normal” will feature an efficient floor plan that deemphasizes personal offices while paradoxically accommodating a growing attorney headcount.
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Commercial Leasing Law & Strategy
The NY Court of Appeals Provides Important Guidance for Lease Surrender Agreements
Bruce H. Lederman
At a time when the COVID-19 crisis is causing an unprecedented number of lease defaults, a recent NY Court of Appeals decision provides both guidance and warnings to attorneys asked to negotiate and litigate leasehold surrender agreements.
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New York Real Estate Law Reporter
The NY Court of Appeals Provides Important Guidance for Lease Surrender Agreements
Bruce H. Lederman
At a time when the COVID-19 crisis is causing an unprecedented number of lease defaults, the recent Court of Appeals decision, The Trustees of Columbia University v D’Agostino Supermarkets, Inc., provides both guidance and warnings to attorneys asked to negotiate and litigate leasehold surrender agreements.
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New York Real Estate Law Reporter
Development
Stewart Sterk
Use Variance Not Necessary for Use of Home As AirBnB Rental
Merger of Back-to-Back Lots
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Commercial Leasing Law & Strategy
Extra-Judicial Evictions of Commercial Tenants During COVID-19
Adam Leitman Bailey and John M. Desiderio
This article addresses and updates the law on the self-help remedy that enables commercial landlords to regain possession of leased premises from tenants in material breach of one or more lease covenants.
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New York Real Estate Law Reporter
Real Property Law
Stewart Sterk
Stranger to the Deed Rule Does Not Bar Easement Claim
Misconduct By Mortgagor’s Lawyer Voids Foreclosure Sale
Permissive Exclusive Use of Common Driveway Does Not Extinguish Easement
Bidder At Tax Foreclosure Sale Forfeits Deposit Upon Default
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Commercial Leasing Law & Strategy
2020 Provides Roadmap for Success in 2021
Erika B. Morphy
If commercial real estate is going to have a successful 2021, it will require the ability to seek out unexpected advantages.
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New York Real Estate Law Reporter
Co-ops and Condominiums
Stewart Sterk
Mother Entitled to Partition of Co-Op Apartment
Contract Vendee Lacks Standing to Enforce Proprietary Lease Provision
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Commercial Leasing Law & Strategy
‘Frustration’ and ‘Impossibility’: Viable Defenses Amid the Pandemic?
Warren A. Estis and Alexander Lycoyannis
As the COVID-19 pandemic and its accompanying economic fallout continue to unfold, commercial tenants have increasingly come to rely on the common law doctrines of impossibility of performance and frustration of purpose as defenses to the nonpayment of rent.
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Commercial Leasing Law & Strategy
Four Class Actions Allege Rent Overcharge Chicanery
Lucas Ferrara
On Oct. 29, 2020, a Manhattan real-estate firm filed four separate class-action lawsuits highlighting three different maneuvers landlords used to evade the requirements of a tax-abatement program.
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New York Real Estate Law Reporter
Four Class Actions Allege Rent Overcharge Chicanery
Lucas Ferrara
On Oct. 29, 2020, a Manhattan real-estate firm filed four separate class-action lawsuits highlighting three different maneuvers landlords used to evade the requirements of a tax-abatement program.
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Commercial Leasing Law & Strategy
Finding Common Ground In Lease Provisions During COVID-19
Fredric P. Lavinthal and Eric M. Finkelstein
This article seeks to examine key current issues, and offers practical advice to landlords and tenants seeking common ground to address the ongoing financial toll of the pandemic.
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New York Real Estate Law Reporter
Development
Stewart Sterk
Denial of Site Plan Application Upheld
Issuance of State Permit Does Not Preclude Village’s Nuisance Claim Against Waste Disposal Facility
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Commercial Leasing Law & Strategy
Settling COVID-19-Related Commercial Lease Disputes
Frank Burke
This article examines how shutdown actions might be approached and resolved by settlement by applying a series of contract performance doctrines that inevitably arise during these types of situations.
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New York Real Estate Law Reporter
Co-ops & Condominiums
Stewart Sterk
RPAPL 881 License Granted to Enter Neighboring Condominium Unit
Allocation of Common Expenses Upheld
Condominium Owners Have Right to Vote On Matters Involving Homeowners Association
Appointment of Receiver Upheld
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New York Real Estate Law Reporter
Real Property Law
Stewart Sterk
Possibility of Reverter Enforced
Bidder At Tax Foreclosure Sale Forfeits Deposit Upon Default
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Commercial Leasing Law & Strategy
What a Biden Administration Might Mean for Commercial Real Estate
Erika Morphy
A national-led effort to push back against the virus will hopefully drive down infections enough until a vaccine becomes available. This can only help commercial real estate as it is clear that the economy will not fully recover until the coronavirus is vanquished.
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New York Real Estate Law Reporter
Eminent Domain Law
Stewart Sterk
No Deduction for Stigma Damages
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Commercial Leasing Law & Strategy
Transitioning to Remote, Electronic Signing for Transactions
Will Norton
The recent move to more remote work environments has prompted many to take a second look at not only eSignature solutions but also remote online notarization (RON).
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Commercial Leasing Law & Strategy
Floor Area Bonuses Allowed for Mixed-Used Properties Under the Philadelphia Zoning Code
Alan Nochumson and Clementa Amazan
Part Two In a Series
In this part of the series on “zoning” bonuses in the city of Philadelphia, we explore Floor Area Bonuses provided under the Mixed Incoming Housing, Green Building, and Underground Accessory Parking & Loading Bonuses.
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Commercial Leasing Law & Strategy
Commercial Real Estate Lenders Face Remedy or Relief Decision In COVID-19
Peter E. Fisch and Salvatore Gogliormella
Lenders in default scenarios face a choice of whether to exercise remedies and take over their collateral, or offer relief measures to their borrowers, either in the form of short-term forbearance or a permanent loan modification.
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Commercial Leasing Law & Strategy
Lease Default Provisions Face Scrutiny During COVID-19
Warren A. Estis and Alexander Lycoyannis
As rent defaults skyrocket in 2020, practitioners reviewing the default provisions in their clients’ commercial leases must ask themselves a crucial question: Does the provision set out a conditional limitation or a condition subsequent?
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Commercial Leasing Law & Strategy
Possible Long-Term Impacts of COVID-19 on Commercial Real Estate
Steve Vainder
While it is likely that the long-term impact of COVID-19 on commercial real estate will be significant, the short-term effect may be to accelerate sector and geographic trends that were already prevalent before the pandemic emerged.
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Commercial Leasing Law & Strategy
Valuations Forecasted to Decline in COVID-19’s Wake
Rayna Katz
Taking a pulse on the impact of the pandemic on all sectors of global commercial real estate, valuation firm Duff & Phelps, in conjunction with the GRI club, surveyed over 300 directors on the state of affairs.
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New York Real Estate Law Reporter
Ninth Circuit Upholds Most FCC Restrictions on Local Government Review of Wireless Installations
Steven M. Silverberg and Katherine Zalantis
The Ninth Circuit Court of Appeals’ recent decision in City of Portland v. Unites States significantly affects the ability of local governments to regulate the installation of so called “small cell” wireless facilities and addresses the ability of wireless providers to utilize utility poles.
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The Bankruptcy Strategist
COVID Shutdown Orders v. Statutory Rent Obligations
Brett S. Theisen and Mark B. Conlan
Even though payment of post-petition rent under a nonresidential lease (prior to rejection) has historically been an absolute requirement, bankruptcy courts, as courts of equity, have the ability during these extraordinary times to take a more flexible approach.
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