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Columns & Departments

Development Image

Development

New York Real Estate Law Reporter Staff

Landowner Did Not Establish Nonconforming Use Protection Zoning Board of Appeals Misconstrued Town Code Definition NYU Has Standing to Challenge Zoning Amendment

Features

Leveraging Qualified Opportunity Funds to Minimize Tax Liability Image

Leveraging Qualified Opportunity Funds to Minimize Tax Liability

David S. Cohen & Liam T. Krahe

As the year winds down, savvy real estate investors are searching for ways to minimize their tax liability. One powerful strategy to consider is the qualified opportunity fund (QOF), offering significant tax advantages while promoting long-term growth.

Features

Commercial Property Insurance: How Much Coverage Do You Really Have? Image

Commercial Property Insurance: How Much Coverage Do You Really Have?

Chris Kuleba, Harrell Watts II & Evan Knott

While in many cases involving a substantial property loss the applicable insurance policy limit is clear, in some cases it is not, and the amount to which the policyholder is entitled is governed by a confluence of policy provisions informed by applicable state law.

Columns & Departments

Eminent Domain Law Image

Eminent Domain Law

New York Real Estate Law Reporter Staff

Public Purpose Challenge to Condemnation Rejected

Features

Report: Window of Opportunity Opens for CRE Investment Image

Report: Window of Opportunity Opens for CRE Investment

Erik Sherman

After the last few years, a challenge for commercial real estate is knowing when to start investing again. Have markets hit bottom? Still, sinking down? The Federal Reserve cut rates by 50 basis points in September. Will they come down further? There's no guaranteed timing for investment success, but a recent Oxford Economics report suggests a window of opportunity that will be a good time to buy.

Columns & Departments

Landlord & Tenant Law Image

Landlord & Tenant Law

New York Real Estate Law Reporter Staff

Charges for Keys Constituted Reduction In Service

Features

'Huguenot LLC v. Megalith Capital Group Fund I, L.P.': A Tutorial On Contract Liability for Real Estate Purchasers Image

'Huguenot LLC v. Megalith Capital Group Fund I, L.P.': A Tutorial On Contract Liability for Real Estate Purchasers

William J. Geller & Robert J. Braverman

In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.

Columns & Departments

Landlord & Tenant Law Image

Landlord & Tenant Law

New York Real Estate Law Reporter Staff

Holdover Tenant Liable for Breach of Covenant Landlord's Acceptance of Rent for 20 Years Waived Right to Challenge Tenancy and to Prevent Exercise of Options to Renew DHCR's Decision Destabilitzing Apartment Upheld

Columns & Departments

Real Property Law Image

Real Property Law

New York Real Estate Law Reporter Staff

Scope of Easement Included Right to Install Seasonal Dock No Easement By Necessity But Questions of Fact Remained About Prescription Claim Questions of Fact Remain About Effects of Drilling On Neighboring Parcel Condominium Not Entitled To Summary Judgment On Neighbor's Claim for Negligent Maintenance of Water Main

Columns & Departments

Co-ops and Condominiums Image

Co-ops and Condominiums

New York Real Estate Law Reporter Staff

Fraudulent Conveyance Claim Against Sponsor Avoids Dismissal Unit Owner's Appropriation of Common Area Constitutes Continuous Trespass Not Barred By Statute of Limitations

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    A majority of courts consider the <i>contra proferentem</i> doctrine to be a pillar of insurance law. The doctrine requires ambiguous terms in an insurance policy to be construed against the insurer and in favor of coverage for the insured. A prominent rationale behind the doctrine is that insurance policies are usually standard-form contracts drafted entirely by insurers.
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  • Abandoned and Unused Cables: A Hidden Liability Under the 2002 National Electric Code
    In an effort to minimize the release of toxic gasses from cables in the event of fire, the 2002 version of the National Electric Code ("NEC"), promulgated by the National Fire Protection Association, sets forth new guidelines requiring that abandoned cables must be removed from buildings unless they are located in metal raceways or tagged "For Future Use." While the NEC is not, in itself, binding law, most jurisdictions in the United States adopt the NEC by reference in their state or local building and fire codes. Thus, noncompliance with the recent NEC guidelines will likely mean that a building is in violation of a building or fire code. If so, the building owner may also be in breach of agreements with tenants and lenders and may be jeopardizing its fire insurance coverage. Even in jurisdictions where the 2002 NEC has not been adopted, it may be argued that the guidelines represent the standard of reasonable care and could result in tort liability for the landlord if toxic gasses from abandoned cables are emitted in a fire. With these potential liabilities in mind, this article discusses: 1) how to address the abandoned wires and cables currently located within the risers, ceilings and other areas of properties, and 2) additional considerations in the placement and removal of telecommunications cables going forward.
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