Top 2019 Legal Developments Affecting New York Real Estate

New York Real Estate Journal recently published an article written by Olshan Real Estate partner Thomas Kearns entitled “Top 2019 Legal Developments Affecting New York Real Estate.” Tom correctly predicted a legislative correction to the 2019 New York Court of Appeals decision to uphold a lease clause containing a waiver of the tenant’s ability to obtain a Yellowstone injunction, which “permits the tenant to toll a lease cure period so that it may litigate an alleged non-monetary lease default.” Mr. Kearns comments, “In this tenant friendly political environment, you should expect to see movement to overturn the decision by legislation.”  Sure enough after the article went to press, New York’s legislative enacted Real Property Law Section 235-h overturning the decision.