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Landlord & Tenant Law
Double Rent Holdover Provision Enforceable; Late Fee Unenforceable As a Penalty
ESRT 501 Seventh Avenue, LLC v. Regine, Ltd., 2022 WL 2068834, AppDiv, First Dept. (memorandum opinion)
In commercial landlord's action for rent and late charges, tenant appealed from Supreme Court's grant of summary judgment to landlord in the amount of $858,809.94. The Appellate Division modified and denied the motion to the extent it sought late charges, and remanded for a determination whether the late fees were reasonable.
The long-term lease between landlord and tenant, originally signed in 2003, provided that tenant would be liable for a 5% charge on all outstanding arrears, and that tenant would be liable for 200% of the monthly rent for any holdover period. By its terms, the lease expired in June 2020. Tenant fell behind in rent payments beginning in 2019, but remained in possession past the expiration of the lease term. Landlord brought this action to recover rent and the late charges, and Supreme Court granted landlord's summary judgment motion. Tenant appealed.
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