On Nov. 24, 2020, the State of New York Court of Appeals ruled in favor of Kramer Levin client Sutton 58 Associates LLC (Sutton), an affiliate of Gamma Real Estate, in its $100 million lawsuit brought against real estate...more
Real estate lenders and borrowers everywhere are trying to figure out what to do with properties that are either sitting vacant or underperforming pre-pandemic expectations. In New York, a number of mezzanine foreclosures...more
New York courts are resuming some operations, but eviction proceedings, including for violations of commercial leases, are still suspended. However, those contracts — and the obligations they created — still exist. ...more
6/1/2020
/ Commercial Leases ,
Commercial Tenants ,
Contract Negotiations ,
Contract Terms ,
Coronavirus/COVID-19 ,
Eviction ,
Force Majeure Clause ,
Frustration of a Common Purpose ,
Impossibility ,
Landlords ,
Moratorium ,
Relief Measures ,
Rent ,
Rental Property ,
Tenants
For more than 50 years, a commercial tenant threatened with eviction could count on obtaining a Yellowstone injunction tolling the tenant’s time to cure alleged lease defaults while challenging the legitimacy of those...more
1/14/2020
/ Appeals ,
Commercial Leases ,
Commercial Tenants ,
Contract Terms ,
Cure Periods ,
Declaratory Judgments ,
Default ,
Eviction ,
Injunctions ,
Landlords ,
New Legislation ,
Notice of Default ,
Public Policy ,
State and Local Government ,
Tolling ,
Waivers