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Columns & Departments
A compilation of commercial real estate rulings in courts across the country.
Features
Can a purchaser of a condominium unit at the condominium board's foreclosure sale take free of a prior mortgage by identifying errors or ambiguities in the mortgage documents? In 21647 LLC v. Deutsche National Trust Co., the District Court for the Southern District of New York rejected a bevy of claims raised by the purchaser and held that the purchaser had constructive notice of the mortgage and took subject to the mortgage's priority.
Columns & Departments
Article 78 Proceeding Not Ripe Even Though ZBA Had Not Made a Decision Within 62-Day Time Limit Challenge to Landmark Designation Was Ripe and Stated Plausible Taking and Due Process Claims Landowner Did Not Acquire Vested Rights Based on Invalidly Issued Building Permit ZBA's Grant of Special Use Permit Upheld
Features
With the recent economic turbulence and pessimism, prudent lenders should be bracing themselves for the coming storm by adopting a five-point "CAPER" strategy: Communicate, Analyze, Preserve, Execute, and Resolve.
Columns & Departments
Subtenant's Lease Obligations Not Terminated By Surrender of the Premises Tenant Complied With Lease's Diligent Efforts Obligation Court Upholds Holdover and Prejudgment Interest Provisions Demolition Plans Suffice to Support Denial of Renewal Lease
Features
Specific performance is an important remedy in real estate transactions, however, it is disfavored by the courts and under certain circumstances (particularly in the case of sale-leasebacks), a specific performance clause, even if properly drafted, may not be enforced by the courts.
Columns & Departments
Foreclosure Sale Purchaser Has Standing to Bring Strict Foreclosure Proceeding Forgery Allegations Did Not Raise Question of Fact to Rebut Certificate of Acknowledgment
Columns & Departments
Comparable Sales Sufficient to Support Eminent Domain Award
Features
A recent decision in a Chapter 11 bankruptcy case in the U.S. Bankruptcy Court for the Southern District of New York highlights the significant impact that a 2019 amendment to the New York Real Property and Procedures Law will have on future disputes in bankruptcy cases where the tenant files for bankruptcy after the issuance of a warrant of eviction but before its execution.
Features
A wave of legislation designed to aid tenants during the COVID-19 pandemic has had an outsized effect on commercial landlord-tenant relations in New York City. The bill that has attracted perhaps the most attention is known as the "Guaranty Law."
