Features
New York's Seldom Used Expedited Money Judgment Mechanism: CPLR 3213
In New York state and local court cases, there is a seldom-used procedural mechanism for obtaining an expedited money judgment against a guarantor. This article provides an overview of CPLR 3213 motions, an update on the resolution of the split that previously existed between the New York State Supreme Court, Appellate Division, First and Second Departments, and practical guidance for transactional counsel drafting commercial leases and guaranties.
Columns & Departments
Landlord & Tenant Law
Partial Constructive Eviction Defense Recognized Condition Precedent to Sub-Sublease Not Satisfied Guaranty Law Does Not Bar Liquidated Damages Claim Penalty for Improper Conversion of Residential Building Force Majeure Clause Reduces Pandemic-Era Rent
Columns & Departments
Real Property Law
Contract Language Does Not Bar Purchaser's Recovery of Prejudgment Interest
Features
Mixed-Use Is Sector Is the Post-Pandemic Choice for Commercial Real Estate Developers
The trinity at the core of traditional mixed-use projects — office, retail and residential — rapidly is evolving to bring a wide variety of project-specific uses to mixed-use development projects.
Columns & Departments
Co-ops and Condominiums
Housing Discrimination Claim Dismissed Co-Op Did Not Breach Shareholder's Guaranty Agreement Co-Op Not Exempt from Lead Paint Mandate
Features
Law Firm Offices Continued to Shrink In 2023, But Real Estate Costs Did Not
Despite the overall trend of downsizing, about 42% of the 80 Am Law 200 firms increased their real estate footprints in 2023. Proportionally, the downsizing was more aggressive than the footprint growth.
Features
Sui Generis: Draft Like You Mean It
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.
Features
NYC Guarantor Liability for Post-Window-Period Rent
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.
Features
Exploring Debt Restructuring Options for CRE Owners
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.
Features
Guarantor Liability for Post-Window-Period Rent
In a case of first impression, the Appellate Division, First Department recently addressed a split in the decisions of the lower courts as to the scope of the New York City Guaranty Law.
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