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October 03, 2023 | New York Law Journal

Are Inclusionary Air Rights Unique? Specific Performance Revisited

In this discussion of contractual rights, Gary M. Rosenberg, Michael A. Pensabene and Ethan R. Cohen discuss '301 East 60th Street LLC v. Competitive Solutions,' a "guidepost to parties engaged in any contractual dispute where specific performance might be sought as a remedy."
13 minute read
August 22, 2023 | New York Law Journal

Contract Suit Alleges Real Estate Development Co. Backed Out of Paying $21M Commission

A broker alleges the corporation failed to pay him after he facilitated their acquisition of properties worth billions. But the development company called the charges "fabricated."
3 minute read
April 04, 2023 | New York Law Journal

Liquidated Damages Provisions: An Update

Liquidated damages clauses are typically (and increasingly) fertile ground for litigation, as evidenced by an extensive and growing body of caselaw on the topic, discussed here.
7 minute read
January 31, 2023 | New York Law Journal

'Best Efforts' Clauses in Commercial Leases

The enforceability of undefined terms such as "best efforts" often turns on how the commercial lease is drafted. This article discusses how New York courts interpret and enforce these "efforts" clauses.
7 minute read
May 31, 2022 | Law.com

Law.com Litigation Trendspotter: In COVID-19 Force Majeure Disputes, Appeals Courts Focus on Cause and Effect

In recent weeks, several appellate courts—both federal and state—have provided guidance on whether and how COVID-19 closures can trigger force majeure clauses in contracts.
7 minute read
May 31, 2022 | New York Law Journal

Force Majeure Clauses in Commercial Leases: Recent Appellate Developments

In recent weeks, the Appellate Division, First Department has twice considered the issue of whether a force majeure clause can excuse the obligation to pay rent under a commercial lease. In their Landlord-Tenant column, Gary Rosenberg and Alexander Lycoyannis discuss these cases.
7 minute read
November 30, 2021 | New York Law Journal

Could NYC's Guaranty Law Be Struck Down as Unconstitutional?

Warren A. Estis and Alexander Lycoyannis discuss 'Melendez v. City of New York,' where a group of New York City owners commenced n district court action for a judgment declaring the Guaranty Law unconstitutional and for an injunction permanently enjoining its enforcement.
8 minute read
October 06, 2020 | New York Law Journal

Conditional Limitation v. Condition Subsequent: An Important Distinction in the COVID-19 Age

As commercial rent defaults significantly increase due to the COVID-19 pandemic, practitioners reviewing the default provisions in their clients' commercial leases must ask themselves a crucial question: Does the provision set out a conditional limitation or a condition subsequent? The answer to this arcane question—which can trip up even experienced attorneys—will determine the forum in which an owner can recover possession.
7 minute read
November 01, 2016 |

Conditional Rentals Can Lead to Default Rent Formula

In their Rent Regulation column, Warren A. Estis and Jeffrey Turkel discuss how some landlords have been known to insert clauses into leases where the incoming tenant represents that they will not be a primary resident of the apartment. This is usually part of a scam to "deregulate" an apartment that was otherwise subject to rent stabilization. They explain that such clauses are illegal and discuss how these clauses have resulted in adverse consequences to both individual landlords and the real estate industry as a whole.
15 minute read
February 08, 2016 |

Panel Declines to Order Return of $4M in Rescinded Deal

A real estate buyer cannot recoup a $4 million deposit because the sellers were relieved of any obligation to show they were ready to close when the buyer filed a rescission action before the closing date, an appellate court held.
4 minute read

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