While tenants’ struggles during the pandemic should not be minimized or disregarded, New York City landlords, especially small ones, are feeling the financial pressure too.
While displacement of the workforce was widely embraced on a temporary basis, employees and employers must consider whether to make the work from home model a permanent workstyle, and if so, how.
The ‘Yellowstone’ injunction tolls a tenant’s time to cure an alleged default while the tenant pursues a legal determination as to whether cure is in fact required under the terms of the lease. This article provides an overview of the key legal considerations in obtaining or defending against a ‘Yellowstone’ injunction.
This article gives a brief overview of the benefits provided through the opportunity zone program and how these benefits were incorporated into New York’s tax code, and then describes how new legislation will strip some of these benefits for purposes of New York state and New York City taxes, while retaining others.
Recent decisions and the use of the frustration-of-purpose doctrine to absolve commercial tenants of their obligation to pay rent could signal headwinds for the New York commercial real-estate market—and the economy more generally.