In their Taxation column, Ezra Dyckman and Vivek Chandrasekhar discuss the "good news" and the "bad news" with the new partnership audit rules.
In their Taxation column, Ezra Dyckman and Vivek Chandrasekhar discuss the "good news" and the "bad news" with the new partnership audit rules.
Scott E. Mollen, a partner at Herrick, Feinstein and an adjunct professor at St. John's University School of Law reviews “Lafayette Boynton v. Pickett,” where the court upheld a decision to return a disabled tenant to his apartment after the execution of a warrant for eviction.
In their Transactional Real Estate column, Peter Fisch and Andrew Gaines discuss the most important rules applicable to real estate investments by private pension funds.
Scott E. Mollen, a partner at Herrick, Feinstein and an adjunct professor at St. John's University School of Law reviews "BDS Associates v. QI Song Lin," which dealt with the issue of primary residence, and "NRI Group v. Crawford, where a landlord was barred from harassing "three-quarter house" tenants.
Adam Leitman Bailey and John M. Desiderio provide an in-depth discussion of the applicable laws protecting persons with disabilities looking for a waiver to allow them to keep a service pet in an otherwise "no-pet" building.
Scott E. Mollen reviews 'MB Property Group v. Church & Swan Properties,' where a real estate broker provided sufficient proof of an implied agreement, allowing him to receive a commission.
In their Landlord-Tenant column, Warren A. Estis and Alexander Lycoyannis discuss how although the popular website Airbnb has had great monetary success, most of its transactions involving New York City residential apartments appear to violate the law.
Scott E. Mollen reviews 'Gomez v. Rossrock,' a landlord-tenant case where the tenants fraudulent overcharge claim was dismissed, and '385 Bayview v. Warren,' a holdover proceeding where it was found that the landlord did not waive the holdover petition by accepting rent between the time of the service of the notice of termination and service of the petition.
Scott E. Mollen, a partner at Herrick, Feinstein and an adjunct professor at St. John's University School of Law reviews “Dormitory Authority of the State of New York v. Roman Catholic Church of Saint Ignatius,” involving easement by implication, where a school’s motion to enjoin an adjacent development failed, and “Wells Fargo Bank v. Pena,” where an action was stayed pending a decision in a New Jersey proceeding.
In his Foreclosure Litigation Column, Bruce J. Bergman asks the question: If the statute of limitations to foreclose a mortgage is expiring, do settlement negotiations with the borrower serve to save the lender from the defense of the statute of limitations if it then expires? Spoiler Alert: The answer is "Maybe."
In his Zoning and Land Use Planning column, Anthony S. Guardino discuss how local governments typically have local residents making zoning decisions, and explores when conflicts of interest might require board member recusal.
Scott E. Mollen reviews 'Basis Yield Alpha Fund Master v. Morgan Stanley,' where the First Department found that reasonable reliance was sufficiently pleaded in support of plaintiff's fraud and fraudulent concealment causes of action, thus affirming the denial of the underwriter's motion to dismiss, and 'Yorkroad v. Corrigan,' where a tenant was granted significant rent abatements for the landlord's failure to remedy leaks.
In their Financing column, Jeffrey B. Steiner and Scott A. Weinberg discuss the Preserving Access to CRE Capital Act of 2016, and explain how it would provide a measure of relief for lenders and borrowers accessing the commercial mortgage backed securities market, as it proposes to modify the risk retention regulations for CMBS securitizations scheduled to take effect later this year.
Scott E. Mollen reviews 'Osberger v. 18 Mercer Equity,' where a cooperative shareholder/proprietary lessee was found not entitled to recover attorney fees, and 'Elk 300 E. 83 LLC v. Dowd,' where the court allowed a grandson to assert succession rights to his grandmother's apartment.
In their Construction Law column, Kenneth Block and Joshua Levy identify the more common overlapping provisions of a project owner's agreement with the architect and contractor in order to provide guidance for the contract drafter.
Scott E. Mollen reviews 'Spartan Diner v. Patsalos,' where a complaint alleging breach of contract was dismissed, and 'Purifoy v. Walter Investment Management Corp.,' where the court allowed a breach claim against a mortgage servicer to survive.
In their Rent Regulation column, Warren A. Estis and Jeffrey Turkel survey the relevant case law over the last four years regarding the issue of whether an owner, in order to obtain high-rent high income luxury deregulation in a building that formerly received J-51 benefits, must first serve the tenant with a so-called J-51 notice.
Scott E. Mollen reviews 'NRP Holdings v. City of Buffalo,' where a developer's promissory estoppel claims in a suit over a failed housing project survived dismissal, and 'Hempstead Housing Authority v. Moorer,' where the court ruled that the loss of home and the right against self-incrimination were more important than prejudice to the landlord.
In their Taxation column, Ezra Dyckman and Daniel W. Stahl explain how the PATH Act created and expanded a number of exceptions to the Foreign Investment in Real Property Tax Act of 1980 rules that govern the taxation of foreign persons selling interests in real estate located in the United States. They go on to discuss one such provision which may encourage an increase in the investments of foreign pension funds in U.S. real estate.
Scott E. Mollen reviews 'Septimus v. Village of Lawrence,' 'Sedgwick v. Cruz,' and 'Manning v. Forest.'
In their Transactional Real Estate column, Peter E. Fisch and Mitchell L. Berg write: When representing the sponsor of a real estate partnership or limited liability company, in the absence of an affirmative obligation on the part of the existing investors to provide any additional needed capital, it is important that the documents governing the entity provide for sufficient flexibility for the sponsor to address the entity's future capital needs.
Scott E. Mollen, a partner at Herrick, Feinstein and an adjunct professor at St. John's University School of Law reviews 'Thor 725 8th Avenue v. Goonetilleke,' where the court granted the landlord judgment on a guaranty breach claim, and a reduced attorney fee award was found to be warranted.
In their Housing Law column, Adam Leitman Bailey and Dov Treiman explain the laws of single-room occupancy buildings standing in the shoes of the purchaser or owner attempting to turn these dwellings into one-family or multi-family housing without restrictions.
Scott E. Mollen reviews 'BT Holdings v. Village of Chester,' where, finding no attorney-client relationship in an Article 78 proceeding, the lawyer and firm were not disqualified, and 'Olivero v. NYCHPD,' where a succession claim to a New York City apartment was overturned.
Nordstrom Inc. has signed a 23-year lease with SL Green Realty Corp. and The Moinian Group for 43,000 square feet at 3 Columbus Circle in Manhattan.
In their Landlord-Tenant column, Warren Estis and Michael Feinstein discuss the case 'Deutsche Bank v. Dirende,' which held that "exhibiting" the referee's deed in a post-foreclosure eviction requires personal delivery.
Scott E. Mollen reviews 'Baez v. NYCHA,' dealing with a class action alleging NYCHA's failure to abate mold and excessive moisture problems, and 'Mauriello v. Flocco,' where factual issues were raised if the doctrine of estoppel applies barring a usury defense claim.
DLA Piper and Mitsui Fudosan America Inc. have developed plans for a major transformation of the law firm's office space at 1251 Avenue of the Americas in Rockefeller Center. Also, Dropbox has signed a five-year lease in the Flatiron district that nearly triples the size of its New York City office.
In his Zoning and Land Use Planning column, Anthony Guardino explains that under well-established New York law, local governments must consider the benefits of landmark designations as well as the burdens imposed on property owners.
Scott E. Mollen reviews 'Berkowitz v. 29 Woodmere Blvd. Owners,' where an apartment owner showed that a co-op board had discriminatory motive to reject purchasers, and '30 East 18th, LLC v. Mitchel,' where the Civil Court properly dismissed a petition for a landlord's attempt to collect an overcharge.
Stradley Ronon Stevens & Young is doubling the size of its New York City office at 100 Park Ave., near Grand Central Terminal. Also, Expedia Inc., a leading global online travel company, has found a fitting location for its New York City office at one of the world's most iconic tourist destinations, the Empire State Building.
In their Financing column, Richard J. Reilly, Jr. and Jeffrey B. Steiner describe some of the key structural features of post-crisis CRE CLO transactions and how they differ from pre-crisis CRE CLO transactions.
Scott E. Mollen reviews "1515 Macombs v. Jackson," where, absent proof of arrears, summary judgment dismissing nonpayment action was granted, and "Matter of New Creek Bluebelt, Phase 4," where the court awarded the claimants attorney fees under Eminent Domain law.
Metro Loft Management has acquired the leasehold interest at 20 Broad St. in lower Manhattan from Vornado Realty Trust for $185 million. Also, Equinox Holdings Inc. will open a new fitness club, its 28th in New York City, at 315 Park Avenue South.
In their Hospitality Litigation column, Todd Soloway and Joshua Bernstein examine the course that hotel owners and operators may chart in determining which, if any, alternative dispute resolution clause will apply to the parties' dispute.
Scott E. Mollen reviews decisions involving the contract provisions governing supervision of home construction by an architect on behalf of the homeowner, a landlord's attempt to quash a tenant's subpoena of documents from the NYS Division of Housing and Community Renewal and a minor's succession rights to a Section 8 apartment.
Maefield Development has acquired the entire leasehold interest for DoubleTree Suites by Hilton-Times Square, at 1568 Broadway, from a subsidiary of Sunstone Hotel Investors Inc., for $540 million. Also, Bergdorf Goodman will have more retail space at its flagship store at 754 Fifth Ave. through an expansion and relocation of its executive offices to an adjacent building at 4 W. 58th St.
In their Rent Regulation column, Warren Estis and Jeffrey Turkel discuss vacancy luxury deregulation in light of the cases 'Altman v. 285 West Fourth, LLC,' 'Aimco 322 East 61st Street v. Brosius,' and 'Dixon v. 105 West 75th Street.'
Scott E. Mollen, a partner at Herrick, Feinstein and an adjunct professor at St. John's University School of Law reviews 'Beacon 109 204-206 v. Leon,' where a landlord failed to support its claim that the tenant caused leaks that damaged the lobby, and 'Deutsche Bank v. Dirende,' where the court found the petition in a post-foreclosure summary proceeding to be fatally defective.
Brooklyn-based BFC Partners, in collaboration with Gansevoort Market, will launch a new culinary market at BFC's Empire Outlets on the Staten Island waterfront along Richmond Terrace, next to the Staten Island Ferry terminal in St. George.
Adam Leitman Bailey and Dov Treiman review the significant changes that took place in cooperative and condominium law this past year.
Scott E. Mollen reviews cases involving a Yellowstone injunction, a broker's commission and breach of fiduciary claims, and a landlord's claims that a tenant was allowing a rent-stabilized apartment to be used for illegal purposes.
The Teacher's Retirement System of the City of New York has renewed its lease with New Water Street Corp. at its 55 Water St. headquarters.
Scott E. Mollen, a partner at Herrick, Feinstein and an adjunct professor at St. John's University School of Law reviews 'Jobin Organization v. Bemar Realty', 'Clinton Hill Holding 1, v. Kathy & Tania,' and 'U.S. Bank National Assoc. v. Glusky'.
In their Taxation column, Ezra Dyckman and Daniel W. Stahl discuss the tax issues presented to both a landlord and tenant when the landlord receives a payment of prepaid rent.
Six Sigma NYC, a boutique design and development firm, has plans to create a new luxury condo building in Chelsea. The site, currently a Tuck-It-Away Self-Storage facility at 517-523 W. 29th St., was acquired for $54.75 million from Nick Sprayregen, the president of Tuck-It-Away.
Minneapolis-based retailer Target has signed a long-term lease with Jack Resnick & Sons Inc. for 48,242 square feet at 255 Greenwich St. Also, a Long Island City commercial property at 48-18 Van Dam St. has been acquired by Local Union 813, a member of the International Brotherhood of the Teamsters Pension Fund and its affiliate, Local 27 Pension Fund, for $20 million.
In his Foreclosure Litigation column, Bruce J. Bergman writes: If a lender holds more than one mortgage with the same borrower secured by the same parcel(s), and if there are no intervening liens, can those mortgages conveniently be pursued in one action? A recent case clearly says "yes."
Scott E. Mollen, a partner at Herrick, Feinstein and an adjunct professor at St. John's University School of Law reviews “In re September 11 Litigation," where the Second Circuit clarified the recovery scheme for WTC leases.
In their Landlord-Tenant column, Warren A. Estis and Michael E. Feinstein discuss the case 'Riesenburger Properties v. PI Associates' to highlight the critical importance of filing a motion for Yellowstone relief prior to the expiration of the cure period.
Scott E. Mollen reviews cases involving a failure to commence a foreclosure action within six years, whether a defendant in a summary nonpayment proceeding waives all jurisdictional defenses as a consequence of interposing unrelated counterclaims, and an alleged chronic rent delinquency.
Albany-based, full-service law firm Tully Rinckey has expanded into New York's Southern Tier region with a new office in Vestal. Also, a joint venture of Dalan Management and Avenue Realty Capital has acquired four properties in Alphabet City for $16.75 million.
In light of Mariott's aquisition of Starwood Hotels, Todd E. Soloway and Joshua D. Bernstein explore the provisions of hotel management and license agreements which define the standards by which a hotel operator must run the owner's business, and they analyze an owner's rights and remedies when presented with issues of brand loyalty.
Scott E. Mollen reviews 'P&T Management v. Aponte', where an issue of the reasonableness of cigarette smoke coming from tenant's apartment was found to be a question of fact for trial; and '1644 Broadway v. Jimenez', where it was held that the property owner properly "exhibited" a copy of the deed of foreclosure.
SNY, also known as SportsNet New York, plans to move its midtown Manhattan headquarters and studio to 4 World Trade Center, where it has scored a 17-year lease with Silverstein Properties Inc. for 83,000 square feet. Also, Houghton Mifflin Harcourt is again increasing the size of its New York City office at 3 Park Ave.
In his Zoning and Land Use Planning column, Anthony Guardino discusses how a decision by the U.S. Supreme Court is likely to force local governments to reconsider many of their sign ordinances.
Scott E. Mollen reviews "Commandeer Realty v. Allegro," where the court found that a first-filed annexation request gets priority over competitors; and "92 Bergenbrooklyn v. Cisarano," where the acceptance of rent by the landlord after commencement of a holdover proceeding vitiates the termination notice on the tenant.
Edward J. Minskoff Equities Inc. at 51 Astor Place has signed several retail contracts recently with Flywheel, Chop't Creative Salad Company and Bluestone Lane Coffee.
In their Financing column, Jeffrey B. Steiner and Jason R. Goldstein summarize some of the key issues related to substantive consolidation and one of the principal loan documentation points that frequently becomes the focus of negotiation.
Scott E. Mollen reviews 'Trump Village v. Bezvoleva,' where the court found that a defamation claim brought by a co-op president against defendant shareholders was allowed to proceed; and 'MID Bronx HDFC v. Paulino,' where a tenant was denied dismissal of her landlord's nuisance holdover proceeding.
Global investment firm KKR & Co. LP has announced that it is acquiring 10 office floors at 30 Hudson Yards, a proposed 90-story tower being developed by Related Companies and Oxford Properties Group.
A subsidiary of Brookfield Property Partners has formed a joint venture with Qatar Investment Authority in the development of Manhattan West. Upon completion, the estimated value of the five-building, mixed-use complex, is anticipated to reach $8.6 billion. Also, Kaufman & Company, a Cleveland-based law firm, has moved its New York City offices to 420 Lexington Ave.
In their Landlord-Tenant column, Warren A. Estis and Jeffrey Turkel write: Until recently, courts in non-primary residence holdover proceedings turned a blind eye where tenants previously made statements in their tax returns—under penalty of perjury—that contradicted their claims of primary residence. That all changed with the ruling in 'Ansonia Assoc. Partnership v. Unwin.'
Scott E. Mollen, a partner at Herrick, Feinstein and an adjunct professor at St. John's University School of Law reviews 'Galil Kineret v. Chin', '229 West 113th Street v. Lamb', and 'New York Shun on Realty Development v. Mathieu'.