Features
AI Emerging As Critical Tool for Commercial Real Estate
In the fast paced world of commercial real estate, AI is emerging as a critical tool to increase efficiency, reduce costs and provide new opportunities. The infusion of AI into the real estate industry has the potential to change how properties are valued, managed and marketed.
Features
How the Kasowitz Decision Puts Attorney Fee Provisions in Proprietary Leases on Shaky Ground
A bedrock of living in a New York City co-op has been the notion that a tenant/shareholder who breaches their proprietary lease or drags their building into expensive and protracted litigation will be responsible for reimbursing the co-op corporation for the expenses incurred as a result of the breach, including the corporation’s reasonable attorneys’ fees. However, a recent decision from the Appellate Division, First Department has thrown this well-established concept into flux.
Columns & Departments
Real Property Law
City Holds Easement to Property Sold At Tax ForeclosureNo Summary Judgment on Adverse Possesson Claim Against Town Land Absent Proof That Town Established Property As a Public Street
Features
Indemnification Provisions In Hotel Management Agreements
This article discusses how hotel industry stakeholders attempt to address these competing concerns in hotel management agreements through indemnification language, how courts interpret these provisions, and considerations for hotel owners and managers when negotiating such provisions.
Features
Strategies for Buying Distressed Real Estate from a Receiver
Buying distressed real estate from a receiver presents unique opportunities and challenges. A court-appointed receiver manages and preserves assets for creditors, investors, or other stakeholders, typically in cases involving financial distress or mismanagement. Because of these circumstances, purchasing real estate from a receiver requires a strategic approach. Below are key considerations for successfully acquiring real estate in a receivership sale.
Features
Tax Assessment Often Minimizes Property Owners Costs of Getting and Retaining Tenants
The vast majority of commercial real property is valued for tax assessment purposes primarily based on the income approach to valuation. However, it is common to find that the assessor has entirely omitted or overly minimized the costs associated with getting the tenant in the first place.
Columns & Departments
Co-ops and Condominiums
Board Lacked Authority to Mandate Replacement of In-Unit WindowsLiquidated Damages Provision for Construction Delay Did Not Constitute Unenforceable Penalty
Features
Tariffs Bring Largest Decline In CRE Confidence Since COVID
Some of the biggest guns in commercial real estate have spoken in the wake of President Trump’s tariff announcements, and their views of the impacts on CRE financing and the economy are bleak.
Columns & Departments
Landlord & Tenant Law
State and City Prohibitions on Housing Discrimination Do Not Permit Suit Against a City
Features
Constitutionality of Tax Sale Practices Questioned By NY’s Second Department
When a village or other taxing authority conducts a tax lien sale, and the purchaser of the tax lien subsequently acquires a tax deed, what rights does the tax-delinquent former owner of the property enjoy?
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