Due to COVID-19's impact, the commercial office market should fundamentally shift in favor of tenants for the next several years. Law firm tenants should find an environment characterized by friendly concessions, options across asset classes and price ranges, and limited competition for space.
HSTPA Did Not Apply Retroactively to Personal Use Petition
The office market weathered a pandemic-fueled revolution last year, but both owners and tenants responded with impressive adaptability and endurance. Those things bode quite well for the sector's recovery.
In a set of foreclosure cases decided in late February, the Court of Appeals resolved some of the questions that have plagued New York's court system in the aftermath of last decade's mortgage crisis.
Retail, entertainment and hospitality have been hit particularly hard by government-mandated COVID-19 shutdowns. For many, the road ahead will end in, or lead through, bankruptcy. Bankruptcy law has a language of its own, making it challenging to navigate the process for everyone involved, including for the landlords of bankrupt businesses worried about missing rent payments.
In a set of foreclosure cases decided in late February, the Court of Appeals resolved some of the questions that have plagued New York's court system in the aftermath of last decade's mortgage crisis.
Adaption was a critical skill for many commercial real estate firms throughout the pandemic. Companies had to hustle to get the supplies to protect their employees and residents. They're not only thinking about what can protect their occupants from COVID, but what high-tech investments can make their buildings healthier in the future.
Claim That Bank Lacked Standing to Foreclose Waived By Failing to Raise Standing In Answers or Pre-Answer Motions Seller Denied Summary Judgment on Purchaser's Fraudulent Inducement Claim Fraudulent Transfer Claim Reinstated Questions of Fact Preclude Summary Judgment on Counterclaim for Improper Diversion of Water Supreme Court Improperly Denied Specific Performance to Purchasers Delay In Vacating a Default Justifies Application of Laches Doctrine to Prior Mortgagee Mortgagor Who Failed to Appear Not Entitled to Vacate Foreclosure Sale Judgment Lien Enforced Despite Error In Docketed Amount
While residential cases will grab the headlines, commercial property owners, managers and their attorneys should know that financially troubled tenants will be making news of their own. Armed with the hope of keeping their business afloat, they will unveil, or expand on, defenses to mitigate the pandemic's financial impact and to save their leases.
Tenant Entitled to Terminate Lease When Premises Were Not Broom Clean Provision Ending Discounted Rate If Tenant Pays Late Is Unenforceable
