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Commercial Leasing Law & Strategy
Second Circuit Likely to Deliver Big Win for Commercial Shopping Center Lessor
Michael L. Cook
The U.S. Court of Appeals for the Second Circuit, on remand from the Supreme Court, further remanded to the district court the key issue of whether the Chapter 11 debtor gave “adequate assurance of future performance of” a commercial real property shopping center lease “as required by the Bankruptcy Code after the debtor’s assignment of its lease.
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New York Real Estate Law Reporter
When Is A Real Estate Instrument Filing Fee An Unauthorized Tax?
Cameron Macdonald
Litigation pending in the Suffolk County Supreme Court is challenging fees charged for tax map verifications on real estate instruments filed with the county clerk as unauthorized taxes.
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Commercial Leasing Law & Strategy
Adaptive Reuse of Vacant Office Buildings
David Freylikhman and Sarah E. Michigan
While transforming existing buildings for alternative purposes is not a new concept, this article seeks to explore the feasibility of alternative repurposing options with a focus on pre-existing office buildings; namely, converting vacant office space into vertical farms or cannabis growth operations.
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New York Real Estate Law Reporter
Real Property Law
New York Real Estate Law Reporter Staff
Notice of Pendency Improper In Private Nuisance Action
Incapacity and Undue Influence Challenge to Deed Fails
Authority Entitled to Divert Surface Water
Covenant Restricting Landscaping Changes Enforced
Failure to Record Does Not Invalidate Deed Against Purchaser Charged With Notice
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Commercial Leasing Law & Strategy
Is A Real Estate Instrument Filing Fee An Unauthorized Tax?
Cameron Macdonald
Local governments have significant leeway to charge fees for services they provide their residents. But fee revenue sources can be attractive options for those local governments needing to fill budget gaps without raising taxes.
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New York Real Estate Law Reporter
Eminent Domain Law
New York Real Estate Law Reporter Staff
Attorney’s Fee Awarded On Interest Accruing During Appeal
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New York Real Estate Law Reporter
Landlord & Tenant Law
New York Real Estate Law Reporter Staff
Tenant’s Summary Judgment Motion Denied In Rent Overcharge Proceeding
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Commercial Leasing Law & Strategy
Climate Issues Becoming More Critical for Commercial Real Estate Development
Richard Berger
Considerations for severe weather and climate, in general, have real estate developers putting more focus on how they build and operate. But add to that rising insurance rates, which have dealt a big blow to budgets as premiums continue to climb.
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Commercial Leasing Law & Strategy
PA Court Rules Against Property Owners Alleging Impermissible Spot Zoning
Alan Nochumson and Alex Hamilton
In a recently published opinion, the Pennsylvania Commonwealth Court rejected an appeal brought by neighboring property owners alleging that a local ordinance constituted impermissible spot zoning. In its analysis, the Commonwealth Court emphasized the heavy burden a challenger must meet to overcome the presumptive validity of a zoning ordinance.
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New York Real Estate Law Reporter
Co-ops and Condominiums
New York Real Estate Law Reporter Staff
Summary Judgment Denied In Trespass and Nuisance Claim Against Upstairs Neighbor
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Commercial Leasing Law & Strategy
NYC Local Law 18 On Short-Term Rentals Takes Effect
Matthew A. Ulmann
New York City's Short-Term Rental Registration Law (Local Law 18), which directly impacts the ability of an individual unit owner to rent his or her apartment on a short-term basis, took effect on Sept. 5, 2023.
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Commercial Leasing Law & Strategy
Is the Receiver or Debtor More Likely to Preserve and Maximize the Value of the Property In a Bankruptcy?
Andrew C. Kassner and Joseph N. Argentina Jr.
Many clients are not aware that the Bankruptcy Code provides that, upon the filing of a bankruptcy case, the receiver is required to give back possession of the mortgaged property to the debtor unless the lender obtains an order from the Bankruptcy Court excusing the receiver from this requirement.
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Commercial Leasing Law & Strategy
Evaluating Commercial Leases Post-'Rohrmoos'
Troy “T.J.” Hales and Kimberly A. Cruz
Rohrmoos should encourage lawyers drafting leases, and those in lease disputes, to account for some new practical considerations. The drafting attorney should — if they are not already — include a clause in the lease expressly stating the parties’ covenants are independent from one another.
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New York Real Estate Law Reporter
Local Law 18: A Change to Short-Term Rentals In New York City
Matthew A. Ulmann
On Sept. 5, 2023, the New York City Short-Term Rental Registration Law (Local Law 18) took effect which directly impacts the ability of an individual unit owner to rent his or her apartment on a short-term basis.
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Commercial Leasing Law & Strategy
Are Law Firms’ Real Estate and Tech Spending Invariably at Odds?
Patrick Smith
But in place of the common assumption from the COVID years that real estate and technology spending were inversely related, it’s becoming increasingly clear that the two line items — which trail only talent on the overall cost hierarchy — have a more complex relationship.
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Commercial Leasing Law & Strategy
2024 Could Mark a Turning Point for Office Sector
Philippa Maister
The drumbeat of bad news from the office sector has been so pervasive over the past years that it has almost become a fact of life. But a new report suggests that 2024 could mark a turning point — with the possibility in a few years that demand for office space will exceed supply.
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New York Real Estate Law Reporter
Development
New York Real Estate Law Reporter Staff
Contract Vendee Lacks Standing to Challenge Denial of Permit Application
Board’s Denial of Site Plan Approval Invalidated
Inadequate SEQRA Review Requires Denial of Site Plan Approval
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Commercial Leasing Law & Strategy
Rite Aid Rejects 168 Store Leases As Part of Bankruptcy
Jack Rogers
Unable to absorb the potential cost of federal, state and private lawsuits over allegations that it, along with other drugstore chains, oversupplied prescription painkillers, Rite Aid filed for bankruptcy protection in September.
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New York Real Estate Law Reporter
Real Property Law
New York Real Estate Law Reporter Staff
Prescriptive Easement Counterclaim Dismissed
Implied Easement Claims Rejected
Questions of Fact Preclude Summary Judgment on Adverse Possession Claim
Broker Failed to Establish Implied Contract
Questions of Fact Remained About Whether Encroachment Was De Minimus
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Commercial Leasing Law & Strategy
Second Circuit Erects Barriers to Due Process When Challenging Permit Denials
Stewart E. Sterk
Although the federal constitution protects against deprivation of property without due process, the Second Circuit and federal district courts have erected significant barriers to dues process claims by landowners who challenge municipal permit denials or revocations.
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New York Real Estate Law Reporter
What Is Property for Due Process Purposes?
Stewart E. Sterk
Although the federal constitution protects against deprivation of property without due process, the Second Circuit and federal district courts have erected significant barriers to dues process claims by landowners who challenge municipal permit denials or revocations.
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Commercial Leasing Law & Strategy
Effective Hybrid Work Polices Need To Have Teeth
Anthony Davies
What seemed almost a near certainty a year ago — that law firms would fully and permanently embrace work-from-home — is experiencing a seeming reversal. While many firms have, in fact, embraced hybrid operations, the meaning of hybrid has evolved from “office optional,” to an average required 2 days a week, to now many firms coming out with four-day work week mandates — this time, with teeth.
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New York Real Estate Law Reporter
Landlord & Tenant Law
New York Real Estate Law Reporter Staff
Questions of Fact About Whether Tenant Exercised Renewal Option
Hearing Necessary to Determine Whether Landlord Can Remove Tenant to Complete Restoration Work
Questions of Fact About Landlord Fraud
Additional Security Deposit Constitutes Source of Income Discrimination
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New York Real Estate Law Reporter
Real Property Law
New York Real Estate Law Reporter Staff
Questions of Fact Remain About Width of Easement
Transfer Invalidated As Fraudulent Transfer
Cotenant’s Operation of Mine Not Enjoined
Homeowners Association Lacked Standing to Enforce Covenant
Easement Holder Liable for Trespass After Easement Was Extinguished
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Commercial Leasing Law & Strategy
Net Lease Makes a Reset
Erika Morphy
Of all the categories of commercial real estate, net lease is proving to be as resilient as it typically has been during down times. That is not to say that transactions haven’t plummeted in this space — they have — but it does point to the asset class’ ability to pivot, or make a reset when necessary.
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Commercial Leasing Law & Strategy
Pressing Issues for Landlords and Tenants In the Event of a WeWork Bankruptcy
Gregory Plotko and Marissa Higgins
This article discusses in substance the most pressing issues for both landlords and tenants in the event of a WeWork bankruptcy filing under the U.S. Bankruptcy Code.
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New York Real Estate Law Reporter
Development
New York Real Estate Law Reporter Staff
Site Plan Denial Overturned
Claim for Encroachment Reinstated
Area Variance Upheld
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Commercial Leasing Law & Strategy
The Complex Relationship Between Real Estate and Technology
Patrick Smith
In place of the common assumption from the COVID years that real estate and technology spending were inversely related, it’s becoming increasingly clear that the two line items — which trail only talent on the overall cost hierarchy — have a more complex relationship.
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New York Real Estate Law Reporter
Co-ops and Condominiums
New York Real Estate Law Reporter Staff
Condominium’s Delay Constituted Acceptance of Alteration Agreement
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New York Real Estate Law Reporter
Second Department Rules That Cooperative Apartment Owners’ Rights Are Precarious
Paul Golden
On June 14, 2023, the Second Department decided Walsh v Ocwen Loan Servicing. The court, with little fanfare, appeared to rule that cooperative apartment owners are saddled with an unavoidable risk of loss. That is, if a lender alleges that the owners have defaulted, and then conducts a nonjudicial foreclosure sale, the former owners are left with few remedies.
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New York Real Estate Law Reporter
Co-ops and Condominiums
New York Real Estate Law Reporter Staff
Co-Op Purchaser Not Entitled to Cancel Contract
Stipulation of Settlement Did Not Foreclose Warranty of Habitability Claim
Questions of Fact About Mitchell-Lama Succession Rights
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New York Real Estate Law Reporter
Eminent Domain Law
New York Real Estate Law Reporter Staff
Taking Was for a Public Purpose and Failure to Comply With Public Hearing Requirement Did Not Invalidate Taking
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New York Real Estate Law Reporter
Development
New York Real Estate Law Reporter Staff
Fact Questions About Expansion of Nonconforming Use
Subdivision Improperly Classified As Type II Action Under SEQRA
ZBA Entitled to Approve Permit for Building Larger Than One Depicted In Approved Site Plan
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New York Real Estate Law Reporter
Landlord & Tenant Law
New York Real Estate Law Reporter Staff
Tenant’s Early Termination Entitled Landlord to Rent
Questions of Fact About Landlord’s Intention to Convey Leasehold to Individual
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New York Real Estate Law Reporter
Real Property Law
New York Real Estate Law Reporter Staff
Quiet Title Action Subject to Statute of Limitations
Foreclosure Sale Purchasers Not Subject to Claim By Former Owners
Specific Performance Denied Because Buyer Did Not Establish That It Was Ready to Close
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Commercial Leasing Law & Strategy
It’s a Tenant’s Market: How to Negotiate and Navigate the Leasing Process
Sandra D. Buchko
A hybrid workforce has meant that office and retail space is in plentiful supply. These high vacancy rates have caused landlord defaults to be on the rise, making it a tenant-friendly environment for leasing space and obtaining tenant-favorable lease terms. Here is a step-by-step tutorial on how to negotiate the best lease terms and navigate the leasing process while saving money on rent, tenant buildout and operating expenses.
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Commercial Leasing Law & Strategy
Notice of Pendency In Commercial Real Estate Transactions
Adrienne B. Koch
Parties to real estate transactions may be tempted to conclude that a notice of pendency will be available in most instances to protect their rights if things go awry. But while the CPLR’s description of actions in which a notice of pendency is permitted sounds both clear-cut and extremely broad, in practice it is neither of those things.
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Commercial Leasing Law & Strategy
Holding Water: Water Terms Used Within the Commercial Property Policy
Christine G. Barlow
Water issues are often confusing and involve multiple undefined terms such as plumbing, sewer, drain, overflow, or discharge. This article reviews how the terms are applied in the commercial property policy.
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Commercial Leasing Law & Strategy
Issues and Ramifications of Leasing to Cannabis Providers
Brian Peykar
The legalization of cannabis in New Jersey has created tremendous economic opportunities for commercial and industrial property owners. Aside from the potential financial benefits, property owners should approach this newer market in a cautious manner before embarking on leasing to cannabis retailers and/or growers given the multitude of issues and concerns surrounding the cannabis industry.
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New York Real Estate Law Reporter
Guaranty Law Invalidated
Deborah E. Riegel
Consistent with the Second Circuit’s opinion, the District Court in March 2023 found that the Guaranty Law, a pandemic law that was implemented to protect struggling commercial tenants and small businesses, lacked the requisite reasonability to overcome a Contract Clause challenge,
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New York Real Estate Law Reporter
Development
New York Real Estate Law Reporter Staff
Specific Performance Available for Breach of Contract to Convey Air Rights
Challenge to Site Plan Approval Dismissed for Failure to Join a Necessary Party
NYU’s Challenge to Zoning Amendment Dismissed for Lack of Standing
Town’s Construction of Its Ordinance Was Irrational
Condition on Special Permit Renewal Invalidated As Unreasonable
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New York Real Estate Law Reporter
Landlord & Tenant Law
New York Real Estate Law Reporter Staff
Tenant Violated the Lease By Changing Nature of the Restaurant
Lease’s Guaranty Clause Did Not Bind Tenant’s Principal
Yellowstone Injunction Denied Because Tenant Failed to Show It Was Willing and Able to Cure Defaults
Loft Occupant Remains Protected By Loft Law
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New York Real Estate Law Reporter
Real Property Law
New York Real Estate Law Reporter Staff
Buyer Entitled to Return of Deposit Because Estoppel Certificates Were Inadequate
City Had Authority to Extinguish Interest of Delinquent Taxpayers After Four Month Redemption Period Expires
Survival Clause Includes No Expiration Date
Easement Not Invalid for Fraud
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New York Real Estate Law Reporter
Co-ops and Condominiums
New York Real Estate Law Reporter Staff
Co-Op Purchaser Not Entitled to Cancel Contract
Appointment of Receiver to Collect Rent Owed to Defaulting Commercial Unit Owner Upheld
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Commercial Leasing Law & Strategy
New York City’s Guaranty Law Invalidated
Deborah E. Riegel
New York's Guaranty Law was challenged as unconstitutionally restricting a plaintiff's contractual rights The District Court held the law to be constitutional because it advanced a significant and legitimate public purpose through reasonable and appropriate means.
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Commercial Leasing Law & Strategy
Distressed Investors Should Take Advantage of the Upcoming Plethora of Defaulted CRE Loans
Joseph J. Ori
What is different about this distressed cycle is that most of the lenders are not foreclosing and taking title to the CRE assets, managing, and leasing them for a few months and then selling the properties. They are more likely to sell the note/mortgage rather than foreclose on the property. This presents a unique and interesting opportunity for astute distressed investors, who are experienced in acquiring mortgage notes secured by commercial property and in the arduous foreclosure and bankruptcy process,
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Commercial Leasing Law & Strategy
Tips for Achieving More Certainty of Specific Performance Availability
Adrienne B. Koch and Neil S. Miller
Both litigators and transactional lawyers know the basic drill: specific performance is available for breach of a contract whose subject matter is so unique that money damages will not adequately compensate the non-breaching party. But it does not necessarily follow that specific performance is generally available for breach of an agreement that involves real estate. This article discusses why and suggests some ways parties can achieve more certainty in this regard.
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Commercial Leasing Law & Strategy
Trend of Smaller and More Efficient Offices Leads To Downsizing
Abigail Adcox
Several big law firms have plans to shrink their Washington, DC, offices soon, continuing the legal industry trend of smaller and more efficient offices in the wake of the pandemic and hybrid work arrangements.
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Commercial Leasing Law & Strategy
New NJ Statute Requires Notices of Flood-Prone Areas In Commercial Real Estate Transactions
Gordon C. Duus
On July 3, 2023, the New Jersey Legislature enacted a statute requiring sellers and landlords of commercial and residential property to provide notices of flood-prone areas to purchasers and tenants before the transaction becomes binding.
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Commercial Leasing Law & Strategy
‘Soft Landing’ Hopes Are High, But We’re Not At the Finish Line Yet
Paul Bergeron
The ultimate goal of the Federal Reserve has been to reduce inflation without pushing the economy into a recession, achieving the oft-cited soft landing — a feat that a growing number of economists believe might happen. At least one analyst, however, warns the CRE industry not to get too hopeful.
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