Latest News & Developments in Commercial Real Estate Law
Since 2008, we have used our real estate law blog as a way to keep readers informed about the latest developments and news within commercial real estate law. Some of the topics we regularly address include court decisions on disputed commercial real estate transactions, limited liability company law and high-end residential real estate transactions. In addition to informing readers, we make it a priority to provide an in-depth analysis of the topics we discuss.
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New York Real Estate Journal published an article on March 23 authored by Olshan Real Estate partner Thomas Kearns entitled “Commercial Lease Clauses for Pandemics.”
New York Real Estate Journal published an article on December 22 authored by Olshan Real Estate partner Thomas Kearns entitled “2020 Year in Review”
New York Real Estate Journal published an article on January 19 authored by Olshan Real Estate partner Thomas Kearns entitled “Top 2020 Legal Developments Affecting NY’s CRE Industry.”
The COVID‑19 pandemic has caused a “once in 100 years” crisis in many sectors of commercial real estate. Hotels, convention centers, restaurants, theaters, health clubs, and even office buildings around the nation were forced to close or severely limit capacity at times during the pandemic.
Seller’s COVID-related actions breached an “ordinary course” covenant, even though the COVID-19 pandemic did not give rise to a “material adverse effect.”
Authored by Michael R. Neidell and Zachary E. Freedman, Law Clerk
Thomas Friedman’s column in today’s New York Times highlights the digital divide hurting rural areas in the U.S. Are Opportunity Zones a partial solution?
New York Real Estate Journal published an article on November 17 authored by Olshan Real Estate partner Thomas Kearns entitled “No Foreclosures for Technical Mortgage Defaults.”
New York Real Estate Journal published an article on September 22 authored by Olshan Real Estate partner Thomas Kearns entitled “Ground Lease Hotels”
New York Real Estate Journal published an article on July 21 authored by Olshan Real Estate partner Thomas Kearns entitled “’Gross Negligence’ Revisited“
Governor Cuomo’s Executive Order 202.8, dated March 20, 2020, froze evictions of any residential or commercial tenant through June 18, 2020, but did not expressly restrict taking enforcement actions against tenants short of an actual eviction. On May 7, 2020, Governor Cuomo issued Executive Order 202.28, which extended that moratorium until August 20, assuming the owner or tenant “is eligible for unemployment insurance or benefits under state or federal law or otherwise facing financial hardship due to the COVID‑19 pandemic.” Neither of these Executive Orders expressly restricts landlords from taking enforcement actions against tenants short of an actual eviction, including terminating leases based on tenant defaults. They also do not obviate a commercial tenant’s obligation to continue paying rent under the lease.