News & Publications

Approximately 18 months have passed since the first coronavirus (COVID-19) shutdowns were imposed. Much has changed. In the commercial lease environment, tenants confronted the prospect of paying for space that had no real value for them during the shutdown (at least in their minds). Numerous phone calls were made. "You don't expect me to continue paying for this space when I'm basically out of business, right?" "Surely you're going to provide some sort of abatement [...]

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 [...]