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Jones Day

New York Legislature Targets Real Estate Lenders To Lower Rents

Jones Day on

In an effort to protect small businesses from high rents, on June 13, both houses of New York's legislature passed a bill, S1163, that prohibits "rent minimums" in real estate secured loan documents. As of this writing, this...more

Katten Muchin Rosenman LLP

Why a Source of Rescue Capital May Already Be in the Deal

One need look no further than the spate of half-empty office buildings, closed retail stores and rising interest rates (which have impacted even well-performing asset classes) to see that commercial real estate (CRE) owners...more

Mintz - Real Estate, Construction &...

Executive Orders, Administrative Court Orders, and Legislation: The Ever-Changing NY Landscape on Foreclosures, Evictions, and...

The landscape for foreclosures and evictions in New York State is constantly evolving. With the entire State of New York in Phase 4 of New York Forward, the courts have begun to reopen (at least virtually) and certain...more

Seyfarth Shaw LLP

A Roadmap for CRE Loan Document Review in connection with Waiver, Forbearance and Modification Requests During the COVID-19...

Seyfarth Shaw LLP on

As income streams are interrupted due to loss of rents in the midst of business closures during the continuing pandemic, many borrowers are reaching out to their lenders to discuss debt service and other relief under their...more

Seyfarth Shaw LLP

New Rent Reduction Laws Proposed in New York May Be Better for Landlords, But May Still Be Challenged

Seyfarth Shaw LLP on

As discussed in prior updates, lawmakers in New York previously introduced bills that would, if enacted, temporarily suspend rent payments for certain residential and small business commercial tenants unable to pay rent due...more

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