News & Publications

When negotiating commercial leases, whether for retail, office, or industrial space, landlords and tenants often want to quickly strike the business deal and move on to the next steps. Those business terms will usually be set out in the agreed upon letter of intent, or "LOI" – essentially, an agreement to enter into a lease agreement. Even though most LOIs contain (and should contain) clear language that they are not binding contracts, once the parties [...]

On Sept. 9, 2021, the New York State Court of Appeals denied a motion for leave to appeal an Appellate Division ruling that had upheld approval by the Department of Buildings (DOB) and the Board of Standards and Appeals (BSA) of the permit for construction of a 54-story residential building at 200 Amsterdam Ave. in Manhattan being developed by SJP Residential Properties and Mitsui Fudosan. The case involved the interpretation of the New York City [...]

On September 2, 2021, New York Governor Kathy Hochul signed into law a new moratorium on evictions and foreclosures for residential tenants and small businesses.  Recently, in the case Chrysafis v. Marks, the U.S. Supreme Court enjoined the enforcement of the previous residential moratorium in New York (which expired August 31), finding that the tenant's ability to self-declare financial hardship while precluding a landlord from contesting that declaration violated the landlord's due process rights.  Additionally, in [...]