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Features
Both litigators and transactional lawyers know the basic drill: specific performance is available for breach of a contract whose subject matter is so unique that money damages will not adequately compensate the non-breaching party. But it does not necessarily follow that specific performance is generally available for breach of an agreement that involves real estate. This article discusses why and suggests some ways parties can achieve more certainty in this regard.
Features
Several big law firms have plans to shrink their Washington, DC, offices soon, continuing the legal industry trend of smaller and more efficient offices in the wake of the pandemic and hybrid work arrangements.
Features
On July 3, 2023, the New Jersey Legislature enacted a statute requiring sellers and landlords of commercial and residential property to provide notices of flood-prone areas to purchasers and tenants before the transaction becomes binding.
Features
The ultimate goal of the Federal Reserve has been to reduce inflation without pushing the economy into a recession, achieving the oft-cited soft landing — a feat that a growing number of economists believe might happen. At least one analyst, however, warns the CRE industry not to get too hopeful.
Features
Every distressed tenant will have a different situation and story to tell. Each will have a different approach to handling its lease obligations. Following is a primer to help the commercial landlord prepare for the default conversation with the tenant by looking at the different potential types of defaulting tenants it may face and advice on how to handle each type.
Features
Recent years have seen numerous reports of what has colloquially been called "property theft" or "deed theft." To fight deed theft in New York, the state Attorney General has championed a statute making "Property Theft" a crime.
Features
Historically, lenders have been unwilling to go into business with their borrowers, preferring to observe a rigid separation between debtor and creditor. However, if an office property can be repositioned for another use, there is a path between extending the term of a loan and hoping for the best, and taking the property back and realizing a catastrophic loss.
Features
Recent years have seen numerous reports of what has colloquially been called "property theft" or "deed theft" in New York. The state Attorney General has championed a statute, now introduced in the state legislature, making "Property Theft" a crime. Would the statute be helpful?
Features
Before deal activity in the commercial real estate lending sector can approach anywhere close to returning to its 2021 highs, many commercial real estate borrowers, investors and lenders will look for stable interest rates — either a cessation of rate hikes, or, at the very least, a clear ceiling.
Features
Despite a provision in a commercial lease that prohibited electronic notice, the Massachusetts Appeals Court sided with a tenant in holding that an email to its landlord constituted effective notice to opt out of an automatic five-year lease extension.