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Co-op Ground Lease

Many commercial real estate land parcels in New York are held through a long-term ground lease structure. This includes approximately 100 co-op buildings in New York City that are located on property that is ground leased....more

Recent SDNY Bankruptcy Court Opinion Lowers Cap on Commercial Real Estate Lease Rejection Damages

In a departure from prior precedent in the United States Bankruptcy Court for the Southern District of New York (SDNY), a recent opinion by Judge Michael E. Wiles in In re Cortlandt Liquidating LLC, effectively lowered the...more

NYS Legislature Extends Residential And Commercial Eviction And Foreclosure Moratoriums

During a special session held on September 1, 2021, the New York State legislature passed a new law that extends the state’s moratorium on residential and commercial evictions and foreclosures until January 15, 2022. The...more

New York State Passes Legislation To Extend Eviction And Foreclosure Relief For Small Business Commercial Properties

On March 9, 2021, New York Governor Andrew Cuomo signed into law the New York State COVID-19 Emergency Protect Our Small Businesses Act of 2021 (S471A/A3207) (the “Act”). After a full year of commercial tenants and commercial...more

New York Courts Weigh In On How COVID-19 Affects Commercial Lease Disputes

Through the continued uncertainty as to how COVID-19 might affect commercial real estate leases and the rights and obligations of landlords and tenants thereunder, the New York courts are attempting to carve out standards for...more

New York Commercial Eviction Moratorium Extended Through January 31, 2021

New York State has extended the moratorium on commercial evictions and foreclosures through January 31, 2021. Governor Andrew Cuomo’s Executive Order 202.81 extends the previous deadline of January 1, 2021...more

SDNY Upholds NYC Law Prohibiting Enforcement Of Personal Liability Provisions For COVID-19-Impacted Commercial Tenants

On November 25, 2020, the Southern District of New York upheld Section 22-1005 of the New York City Administrative Code, which renders personal guaranties contained in leases unenforceable for commercial tenants impacted by...more

New York Extends Commercial Eviction And Foreclosure Moratorium

On October 5, 2020, New York Governor Andrew Cuomo signed Executive Order 202.67, extending the moratorium on commercial evictions and foreclosures through November 3, 2020...more

New York State Extends Protections For Commercial And Residential Tenants And Mortgagors

On September 18, 2020, New York Governor Andrew Cuomo signed Executive Order 202.64, extending the moratorium on evictions and foreclosure actions against commercial tenants and owners facing financial hardship due to...more

Commercial Landlords (And Their Lenders) Beware: Bankruptcy Courts Are Shifting Risks To Lessors In Response To The Exigent...

The COVID-19 pandemic has triggered unprecedented levels of business disruption and forced numerous companies into bankruptcy in an effort to preserve dwindling liquidity and postpone creditor demands. Retailers, whose...more

New York Tenant Safe Harbor Act Extends COVID-Related Eviction Protections For Residential Tenants

On June 30, 2020, New York Governor Andrew Cuomo signed into law the New York Tenant Safe Harbor Act (the “Act”). The Act (S.8192B (Hoylman)/A.10290B (Dinowitz)), sponsored by New York State Senators Brad Hoylman and Liz...more

NYC EnactsLaw Prohibiting Enforcement Of Personal Liability Provisions For COVID-19-Impacted Commercial Tenants

On May 26, 2020, New York City enacted a law that renders personal guaranties unenforceable for commercial tenants impacted by COVID-19. Section 22-1005 of the Administrative Code of the City of New York states that a...more

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