Numerous shopping center developers use a “layer-cake” of financing, including state and federal tax incentives to reduce the costs of debt and equity financing. The industry correctly saw that the market value of the credits would drop once the Jobs Act become effective. Such tax cut could undoubtedly impact the ability of developers to raise equity, certainly for new projects not yet placed in service.
Assignment of Right to Purchase Held Not Fraudulent
One of the many provisions of last year's tax overhaul was the creation of a little-noticed program called Opportunity Zones, which was designed to give investors tax breaks for investments in designated areas. Now, attention is starting to pick up as the program takes shape.
Temple Awarded Specific Performance of Agreement to Reconvey
Inadequacy of Sale Price Insufficient to Set Aside Foreclosure Sale
Questions of Fact About Purchaser's Ability to Perform
Knowledge of True Owner's Claim Does Not Defeat Adverse Possession Defense
Contract Vendee Entitled to Specific Performance
Land Seller Did Not Violate General Business Law Section 349
Statute of Limitations Bars Foreclosure Claim
Subletting Rent Stabilized Apartment for Short Periods Is Not a Curable Defect
Tenant May Terminate When Landlord Failed to Cure Landmarks Violation
Breach and Fraudulent Inducement Claims Survive Motion to Dismiss
Late Fees Not Enforceable
Subtenants Not Entitled to 30 Day Notice
The courts issued 41 decisions in 2017 under the New York State Environmental Quality Review Act, and changes were made to regulations themselves this year. This article summarizes the most important of these cases and regulation changes, and the patterns they represent.
Tenant Improvement Does Not Shift Repair Responsibility Away from Landlord
Attorney Fees Not Court-Ordered Cannot Be Recouped by Withholding Rent
On April 26, 2018, a unanimous Court of Appeals held that apartments vacated between 1997 and 2011 will be considered luxury deregulated where the legal regulated rent was $2,000 or more at the time the incoming tenant moved in. The court reversed the First Department, which had held that such apartments would not be deregulated unless the rent was $2,000 or more at the time the outgoing tenant vacated.
Unique Circumstances Require Rent Recomputation
City Human Rights Law Requires Landlord to Convert Window Into Wheelchair Accessible Entrance
“As Is” Clause Does Not Bar Claim That Landlord Intentionally Caused Defective Conditions
