News & Analysis as of

New York Commercial Property Owners

White and Williams LLP

New York City Faces Property Tax Appeal Deadline Amid Real Estate Challenges

Every spring, New York properties have an opportunity to review and consider the accuracy of their property assessments. This year, many commercial property owners are facing a cold reality – property assessments that do not...more

Harris Beach PLLC

Proposed Changes to New York’s C-PACE Legislation Expected to Jumpstart Lending

Harris Beach PLLC on

The New York State legislature is evaluating proposed changes to New York City’s Commercial Property Assessed Clean Energy (“C-PACE”) program that could lead to a surge in lending in this emerging market space. New York...more

K&L Gates LLP

Manhattan Commercial Revitalization Program (M-CORE) Launched to Transform Aging Office Buildings

K&L Gates LLP on

As many companies settle into hybrid work models, office occupancy rates in the United States have flatlined during the first half of 2023. In the Borough of Manhattan (the Borough) in New York City, upwards of 255 million...more

Morrison & Foerster LLP

NYC’s Local Law 97 Update: PACE Yourself

The first compliance period under New York City’s Local Law 97 (LL97) begins on January 1, 2024, and a January 2023 REBNY-commissioned study concluded that over 3,700 properties could be out of compliance and face over $200...more

A&O Shearman

How NYC DOB’s Recently Proposed Rules Could Impact Local Law 97 Compliance

A&O Shearman on

On October 6, 2022, NYC Department of Buildings (DOB) proposed draft rules that address and clarify some of the many anxiety-inducing issues left open by the passage of Local Law 97 three years ago. While there is still much...more

Cole Schotz

Eligible New York City Building Owners: Now Is The Time To Take Advantage Of C-PACE Financing

Cole Schotz on

In early June, the first Commercial Property Assessed Clean Energy (“C-PACE”) transaction closed in New York City, courtesy of C-PACE financing provided by Petros PACE. In connection with a larger $500 million dollar...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

Kilpatrick

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

Kilpatrick on

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

Hinshaw & Culbertson - Consumer Crossroads

New York Courts Lift Suspension of Foreclosure Proceedings, Add Additional Conference Requirement

On July 24, 2020, the New York State Courts issued Administrative Order 157/20 (AO/157/20). Effective July 27, 2020, AO/157/20 removes the formal suspension of all residential foreclosures, but keeps a limited suspension of...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

Harris Beach PLLC

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

Harris Beach PLLC on

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

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