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Challenges for Real Estate Lenders When Borrowers Default Image

Challenges for Real Estate Lenders When Borrowers Default

Jeffrey Steiner & David Broderick

During periods of distress in the real estate industry, if a lender is not going to enter into a consensual workout or loan restructuring with their defaulted borrower, the lender will be presented with the choice of either enforcing rights under its loan documents or marketing and selling the distressed loan.

Features

Law Firms Renegotiating Leases to Reflect 'New Normal' Image

Law Firms Renegotiating Leases to Reflect 'New Normal'

Justin Henry

As their commercial leases approach expiration and renewal, law firms are renegotiating the future of in-office legal work. For many, the "new normal" will feature an efficient floor plan that deemphasizes personal offices while paradoxically accommodating a growing attorney headcount.

Features

The NY Court of Appeals Provides Important Guidance for Lease Surrender Agreements Image

The NY Court of Appeals Provides Important Guidance for Lease Surrender Agreements

Bruce H. Lederman

At a time when the COVID-19 crisis is causing an unprecedented number of lease defaults, a recent NY Court of Appeals decision provides both guidance and warnings to attorneys asked to negotiate and litigate leasehold surrender agreements.

Features

The NY Court of Appeals Provides Important Guidance for Lease Surrender Agreements Image

The NY Court of Appeals Provides Important Guidance for Lease Surrender Agreements

Bruce H. Lederman

At a time when the COVID-19 crisis is causing an unprecedented number of lease defaults, the recent Court of Appeals decision, The Trustees of Columbia University v D'Agostino Supermarkets, Inc., provides both guidance and warnings to attorneys asked to negotiate and litigate leasehold surrender agreements.

Columns & Departments

Development Image

Development

Stewart Sterk

Use Variance Not Necessary for Use of Home As AirBnB Rental Merger of Back-to-Back Lots

Features

Extra-Judicial Evictions of Commercial Tenants During COVID-19 Image

Extra-Judicial Evictions of Commercial Tenants During COVID-19

Adam Leitman Bailey & John M. Desiderio 

This article addresses and updates the law on the self-help remedy that enables commercial landlords to regain possession of leased premises from tenants in material breach of one or more lease covenants.

Columns & Departments

Real Property Law Image

Real Property Law

Stewart Sterk

Stranger to the Deed Rule Does Not Bar Easement Claim Misconduct By Mortgagor's Lawyer Voids Foreclosure Sale Permissive Exclusive Use of Common Driveway Does Not Extinguish Easement Bidder At Tax Foreclosure Sale Forfeits Deposit Upon Default

Features

2020 Provides Roadmap for Success in 2021 Image

2020 Provides Roadmap for Success in 2021

Erika Morphy

If commercial real estate is going to have a successful 2021, it will require the ability to seek out unexpected advantages.

Features

'Frustration' and 'Impossibility': Viable Defenses Amid the Pandemic? Image

'Frustration' and 'Impossibility': Viable Defenses Amid the Pandemic?

Warren A. Estis & Alexander Lycoyannis 

As the COVID-19 pandemic and its accompanying economic fallout continue to unfold, commercial tenants have increasingly come to rely on the common law doctrines of impossibility of performance and frustration of purpose as defenses to the nonpayment of rent.

Features

Four Class Actions Allege Rent Overcharge Chicanery Image

Four Class Actions Allege Rent Overcharge Chicanery

Lucas Ferrara

On Oct. 29, 2020, a Manhattan real-estate firm filed four separate class-action lawsuits highlighting three different maneuvers landlords used to evade the requirements of a tax-abatement program.

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