Legal

New York Co-Ops Get Their “Teeth” Back: S-5105(C) Creates HSTPA Carveout for Co-Op’s

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In June 2019, New York State passed a sweeping reform of landlord/tenant laws called the Housing Stability and Tenant Protection Act (“HSTPA”).  The blanket reforms of the HSTPA, whether intentional or not, included New York Cooperative apartments since Co-Op apartments create a landlord/tenant relationship by virtue of the proprietary lease between the Cooperative Corporation (landlord) […]

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Ripped from the Headlines: Holdover in the Hamptons

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The stakes for residential leasing in New York State are high, ever since the Housing Stability and Tenant Protection Act was passed in 2019.  We have been highlighting the consequences when landlords fail to follow the law, and a recent court case regarding a rental in the Hamptons shows just what can go wrong for landlords when they don’t follow the law.  Now we

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What You Need to Know About New York State’s Disability Accommodation Law

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Beginning April 1, 2021, all owners or managing agents of residential property in New York State are obligated to provide notices to all residents of their rights to accommodate disabilities by virtue of an amendment to New York Executive Law Section 296.  Though there is some ambiguity, the law provides that an individual with a disability may make

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What You Need to Know About New York’s Commercial Eviction Moratorium

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On March 9, 2021, Governor Cuomo signed the COVID-19 Emergency Protect our Small Businesses Act of 2021. Instead of continuous executive orders, the law codifies an extension of the commercial eviction moratorium under certain circumstances through April 30, 2021. A New York State based commercial tenant, employing fifty or fewer individuals, that is independently owned and

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Planning for Increased Office Space Use and Navigating the Eviction Moratorium

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As Labor Day approaches, many New Yorkers are contemplating a return to the City driven in part by the (now delayed) plan for reopening New York City public schools. This latest client alert will address what commercial tenants need to incorporate in their reopening plans as well as the status of New York’s ongoing eviction

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New York Forward Loan Fund and Personal Liability Provisions of Leases for Commercial Tenants

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New York State recently enacted the New York Forward Loan Fund (NYFLF) which is designed to assist businesses and landlords through COVID-19.  The New York City Council enacted Int 1932-2020 “COVID-19 Relief Package – Personal liability provisions of leases for commercial tenants impacted by COVID-19” in order to protect commercial tenants, which is scheduled to be signed

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Navigating Real Estate Obligations During a Time of Heightened Risk and Austerity

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There has been a lot discussion about the effects of COVID-19 on real estate in New York City. This client alert will address the obligations of commercial tenants and landlords as well as the requirements of residential landlords. How to allocate risk in the face of COVID-19? Commercial tenants are asking for abatements or deferrals

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Sublease Considerations for Sublandlords and Subtenants Amid COVID-19

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Amid Covid-19, businesses of all sizes are re-evaluating their real estate needs. Whether it be for office, retail, or showroom space, the current environment will likely see a reduced footprint for many companies. As such, we are issuing this advice to sublandlords and subtenants as a reminder of issues to consider during this time. We will

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How the CARES Act Applies to Businesses (Commercial Tenants) and Residential Real Estate

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Below is the text of an alert that we sent to our clients. We are re-posting on our blog. Dear Clients and Friends, On March 13th, we provided advice about preserving commercial lease obligations through COVID-19: https://www.coopersmithandcoopersmith.com/2020/03/13/preserving-your-commercial-lease-through-covid-19/ On March 23rd, we wrote about the current state of rent and mortgage payments: https://www.coopersmithandcoopersmith.com/2020/03/23/making-sense-of-rent-and-mortgage-obligations-amid-confusing-times/ The purpose of

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