News & Analysis as of

New York Commercial Leases Landlords

Blank Rome LLP

New York Court Decision Disrupts “Good Guy Guaranty” Liability Limitations

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In the New York commercial leasing world, and in almost every privately-owned restaurant lease, the well-known “Good Guy Guaranty” is abundantly common. However, a decision by a judge in the Supreme Court for New York County,...more

Seyfarth Shaw LLP

Federal Court: New York City COVID-19 Guaranty Law Unconstitutional

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On March 31, 2023, U.S. District Judge Ronnie Abrams of the Southern District of New York issued her highly anticipated ruling in the latest iteration of Melendez et al v. The City of New York, et al. Judge Abrams granted...more

Tarter Krinsky & Drogin LLP

New York City’s “Guaranty Law” is Held to be Unconstitutional and Unenforceable

In a highly-anticipated decision, Judge Ronnie Abrams of the United States District Court for the Southern District of New York ruled on March 31, 2023, in Melendez v. City of New York, that New York City's Guaranty Law is...more

Rivkin Radler LLP

New York Insurance Coverage Law Update - December 2021

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New York Court of Appeals Holds That Disgorgement Payment Under SEC Settlement Not Excluded As A Penalty Imposed By Law- The Securities and Exchange Commission (SEC) alleged that Bear Stearns facilitated late trading and...more

Tarter Krinsky & Drogin LLP

The Constitutionality of New York City’s “Guaranty Law” Remains in Question After Decision by the Second Circuit

For those interested in knowing whether the New York City “Guaranty Law,” which was enacted by the City Council in May 2020 in the wake of the COVID-19 pandemic, will survive a challenge to its constitutionality, the wait...more

Morrison & Foerster LLP

NYS Legislature Extends Residential And Commercial Eviction And Foreclosure Moratoriums

During a special session held on September 1, 2021, the New York State legislature passed a new law that extends the state’s moratorium on residential and commercial evictions and foreclosures until January 15, 2022. The...more

Harris Beach PLLC

New York Extends the Moratorium on COVID-related Commercial Residential Evictions and Foreclosure Proceedings Until August 31,...

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On Tuesday May 4, 2021, Governor Cuomo signed an extension of the “COVID-19 Emergency Protect Our Small Businesses Act of 2021” (collectively, the “Act”) prohibiting residential and commercial evictions, foreclosure...more

Morrison & Foerster LLP

New York State Passes Legislation To Extend Eviction And Foreclosure Relief For Small Business Commercial Properties

On March 9, 2021, New York Governor Andrew Cuomo signed into law the New York State COVID-19 Emergency Protect Our Small Businesses Act of 2021 (S471A/A3207) (the “Act”). After a full year of commercial tenants and commercial...more

Patterson Belknap Webb & Tyler LLP

Commercial Division Dismisses Commercial Tenant’s Complaint Seeking to Rescind or Terminate Lease and Avoid Rent Obligations

Recently, in Valentino U.S.A., Inc. v. 693 Fifth Owner LLC, Justice Andrew Borrok of the New York County Commercial Division dismissed a complaint brought by Valentino U.S.A., Inc. (“Valentino” or “Tenant”), which sought to...more

Harris Beach PLLC

Help or Harm? New Legislation Aimed at Helping Tenants and Borrowers Impacted by COVID Causes Concern for Landlords and Lenders

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In his recent State of the State Address, New York Governor Andrew Cuomo indicated a desire to stay mortgage foreclosures, commercial evictions and foreclosures through May 1, 2021. On March 9, 2021, the Governor’s desires...more

Morrison & Foerster LLP

New York Courts Weigh In On How COVID-19 Affects Commercial Lease Disputes

Through the continued uncertainty as to how COVID-19 might affect commercial real estate leases and the rights and obligations of landlords and tenants thereunder, the New York courts are attempting to carve out standards for...more

Harris Beach PLLC

NYC Extends Moratorium on Enforcement of Personal Guarantees of Commercial Leases Affected by COVID-19

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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

Kilpatrick

Executive Order 202.70 Extends Moratorium on New York Commercial Evictions and Mortgage Foreclosures to January 2021

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On October 20, 2020, New York Governor Andrew Cuomo issued Executive Order 202.70, which continued through January 1, 2021 the moratorium on initiating a proceeding or enforcement of (a) an eviction of any commercial tenant...more

Harris Beach PLLC

NY Moratorium on COVID-Related Commercial Evictions and Foreclosures Extended Through the End of 2020

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By Executive Order 202.70, New York Gov. Andrew Cuomo has further extended – through Jan. 1, 2021 – the moratorium prohibiting the initiation of a proceeding or enforcement of (i) an eviction of a commercial tenant for...more

Moritt Hock & Hamroff LLP

Update On Lease Disputes & Covid-19: Is Covid-19 A Get Out Of Jail Card For Tenants?

The number of lawsuits in the New York Supreme Court, New York County, concerning leases between commercial landlords and tenants continues to rise in the wake of the COVID-19-related shutdowns, indelibly impacting the legal...more

Moritt Hock & Hamroff LLP

New York City Council Passed Unprecedented Legislation Affecting Commercial Leases & Guaranty Agreements in New York City

UPDATE: As anticipated, on May 26, 2020, this legislation was enacted into law and takes effect immediately. On May 13, 2020, the New York City Council unanimously passed a COVID-19 Relief Package that may temporarily...more

Seyfarth Shaw LLP

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

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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

Harris Beach PLLC

Considerations for Landlord-Tenant Lease Modifications in Response to COVID-19

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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

Seyfarth Shaw LLP

Could Commercial Landlords be Liable for Exposure to COVID-19 Under New York Law?

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The ongoing COVID-19 pandemic raises the question of whether landlords having leased properties for commercial uses can be held liable for injuries sustained when someone—whether employees of the commercial tenant or someone...more

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