The first compliance period under New York City’s Local Law 97 (LL97) begins on January 1, 2024, and a January 2023 REBNY-commissioned study concluded that over 3,700 properties could be out of compliance and face over $200...more
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
On August 12, 2021, the United States Supreme Court agreed on procedural due process grounds to halt enforcement of part of New York’s COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 (the “Act”), which is...more
On May 4, 2021, New York Governor Andrew Cuomo signed into law a bill passed by the New York State legislature extending to August 31, 2021 the existing eviction moratorium for residential tenants and independently owned...more
5/6/2021
/ Commercial Tenants ,
Coronavirus/COVID-19 ,
Eviction ,
Foreclosure ,
Governor Cuomo ,
Landlords ,
Moratorium ,
New York ,
Popular ,
Small Business ,
State and Local Government ,
Tenants ,
Undue Hardship
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
3/19/2021
/ Commercial Leases ,
Commercial Tenants ,
Coronavirus/COVID-19 ,
Eviction ,
Executive Orders ,
Foreclosure ,
Governor Cuomo ,
Landlords ,
Moratorium ,
New York ,
Small Business ,
State and Local Government ,
Tenants ,
Undue Hardship
On February 24, 2021, five New York landlords filed a complaint in federal court, alleging that Part A of the state’s COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 (the “Act”) violates their...more
3/5/2021
/ Arbitration Procedural Rules ,
Centers for Disease Control and Prevention (CDC) ,
Coronavirus/COVID-19 ,
Department of Justice (DOJ) ,
Eviction ,
First Amendment ,
Joe Biden ,
Landlords ,
Moratorium ,
New York ,
Preliminary Injunctions ,
Rental Property ,
State Attorneys General ,
Tenants ,
Unconstitutional Condition
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 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
In January 2020, Senator Julia Salazar and Assembly Member Harvey Epstein introduced a bill (S7231/A09041) in the New York State Legislature proposing to charge a recording tax (similar to the mortgage tax) on mezzanine debt...more
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