When executives aren't sure what normal will look like in where employees work, they can't tell how much office space they need. While some sectors of commercial real estate are stable in terms of tenants, others are a question. That's leading to some pushing for shorter-term leases — ironically, both by tenants and some owners — as well as headaches for underwriting as the predictability of tenancy is up in the air.
As the commercial real estate market undergoes seismic shifts, companies may find themselves in situations where their tenant or their landlord has filed for bankruptcy protection. Questions then quickly arise, such as if and how a landlord may evict a bankrupt tenant, whether a bankrupt tenant may remain as a lessee and continue to occupy the premises, and how to measure damages for a landlord in this situation, both before bankruptcy and going forward post-petition.
When the NY state legislature enacted the Housing Stability and Tenant Protection Act of 2019 (HSTPA), much of the statute's focus was on increased protection for rent regulated tenants. But the statute also includes a number of significant provisions that apply to market rate tenants.
Questions of Fact About Whether Deed Conveyed to Centerline of Abutting Road Deed Created Easement, Not Fee Questions of Fact About Meaning of Restrictive Covenant Adverse Possession By 99-Year Lessee Equitable Lien Claim Fails Agreement Released Trespass and Nuisance Claims Against Neighbor Easement Not Abandoned
No Quorum At Shareholders' Meeting Nuisance and Fraudulent Conveyance Claims Restored
Landowner Lacked Standing to Challenge Zoning Amendment Sierra Club Lacks Standing to Challenge Zoning Amendment
DHCR Had Rational Basis for MCI Determination Guarantor's Letter Did Not Revoke Guaranty
A series of strategies and drafting techniques relevant to commercial real estate loan workouts and enforcement. This article isn't a "how-to" primer on loan enforcement or restructuring the distressed loan, it identifies some of the current solutions and insights that have been observed, implemented and proposed during this pandemic-impacted workout cycle.
Commercial insurance prices are rising as increased costs from climate change, the supply chain crisis and inflation take hold, Westchester, a commercial property, and casualty insurance underwriter, said in a new report.
In a recent case, the Tenth Circuit joined other circuits in holding that government closure orders due to the COVID-19 pandemic do not trigger insurance coverage for loss of business income, reasoning that the temporary inability to use property caused by COVID shutdown orders doesn't involve a covered physical loss of property.
