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 […]
Planning for Increased Office Space Use and Navigating the Eviction Moratorium Read More »
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
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
Navigating Real Estate Obligations During a Time of Heightened Risk and Austerity Read More »
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
Sublease Considerations for Sublandlords and Subtenants Amid COVID-19 Read More »
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
How the CARES Act Applies to Businesses (Commercial Tenants) and Residential Real Estate Read More »
Below is the text of an alert that we sent to our clients. We are re-posting on our blog. Dear Clients and Friends, Last week we sent an email about preserving your commercial lease. If you missed the email it has been reproduced on our blog and is available here: https://www.coopersmithandcoopersmith.com/2020/03/13/preserving-your-commercial-lease-through-covid-19/ There has been a lot
Making Sense of Rent and Mortgage Obligations Amid Confusing Times Read More »
Below is the text of an alert that we sent to our clients. We are re-posting on our blog. Dear Clients and Friends, These are no doubt trying times for all of us personally and professionally. While there are many items to focus on, the purpose of this email is to address your commercial lease obligations and
Preserving Your Commercial Lease Through COVID-19 Read More »
In New York City, the 15% residential brokerage commission feels almost like a rite of passage. For tenants paying one of the highest rents around the country, paying the brokerage commission at lease execution can feel like a punch to the gut. Of course, residential brokers work very hard to facilitate a transaction and are
Making Sense of Residential Leasing Commissions Read More »
We are pleased to announce the launch of our podcast called Broker’s Angle. Broker’s Angle will focus exclusively on real estate brokers and the issues most important to them and their businesses. In Broker’s Angle we will interview top brokers to provide insight into the current real estate market and how these brokers have built
Announcing Broker’s Angle Podcast! Read More »
Today, New York State Department of Taxation and Finance quietly changed the disclosure requirement for condominium purchases. A link to The Real Deal article with more color on this change can be found here: https://therealdeal.com/2019/11/07/state-quietly-removes-mention-of-condos-in-llc-law/ As previously noted in our blog, the interpretation of Senate Bill S1730 led to some tumult among a certain segment
Return of the LLC for Condominium Purchases Read More »
