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Features
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
City Holds Easement to Property Sold At Tax ForeclosureNo Summary Judgment on Adverse Possession Claim Against Town Land Absent Proof That Town Established Property As a Public Street
Features
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
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
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
Board Lacked Authority to Mandate Replacement of In-Unit WindowsLiquidated Damages Provision for Construction Delay Did Not Constitute Unenforceable Penalty
Features
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
State and City Prohibitions on Housing Discrimination Do Not Permit Suit Against a City
Features
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?
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?