On Sept. 23, 2020, the New York City Council amended the personal guarantor provisions of Local Law 55 of 2020, which went into effect on May 28, 2020 and was designed to protect businesses affected by Gov. Andrew Cuomo’s...more
First the Governor and now the Courts have moved the goal posts with respect to bringing and enforcing eviction actions against delinquent residential and commercial tenants in New York. Most recently, pursuant to an...more
On June 9, 2020, Simon Property Group (NYSE: SPG), the nation’s largest shopping mall operator, announced the termination of its $3.6 billion merger agreement with Taubman Centers (NYSE: TCO). The merger agreement was signed...more
Executive orders issued by Gov. Andrew Cuomo in the wake of the COVID-19 pandemic have already put restraints on landlords in their ability to evict tenants for non-payment of rent. A bill signed by New York City Mayor Bill...more
Governor Cuomo’s May 7, 2020, Executive Order, 202.28 (“E.O. 202.28”) offers relief to some (tenants and property owners) and pain to others (landlords). The order provides, inter alia, that:
There shall be no initiation...more
The current health, social and economic conditions related to the coronavirus pandemic are exerting tremendous pressures on contractual relationships between commercial concerns, not the least of which is the landlord-tenant...more
4/9/2020
/ Commercial Leases ,
Commercial Property Owners ,
Commercial Tenants ,
Coronavirus/COVID-19 ,
Eviction ,
Landlords ,
Moratorium ,
New York ,
Relief Measures ,
Rent ,
Rental Property ,
Tenants
The social and economic impacts of COVID-19 have been sudden, pervasive and severe. With executive action by New York State’s Governor forcing many companies across varied industries to close their business locations and/or...more