NEWS

Do You Need a Business Lawyer?

Do you need an experienced business lawyer on your side? For many people, it can be tough to know when you need to call an attorney. However, just like with a medical issue, if you think that you might need a business attorney then you probably do. It's better to consult with a lawyer and know for sure than to potentially face negative consequences because you needed one and didn't get it. You should be consulting with a lawyer for sure if you know that you are dealing with an issue that is going to require legal support. This could [...]

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Second Department Rejects Yellowstone Application where Tenant’s Default was not Curable

Real estate veterans are well familiar with the court order known as a Yellowstone injunction, which is sought by a commercial tenant to stop a landlord’s termination of its lease. In order to obtain the injunction, a tenant must demonstrate that: (1) it holds a lease, (2) its landlord served a notice to cure, (3) the tenant sought the Yellowstone injunction prior to the expiration of the cure period, and (4) the tenant has the ability and desire to cure the alleged default. In Prince Fashions, Inc. v. 60G 542 Broadway Owner, LLC, 149 A.D.2d 529 (2d Dep’t April 18, [...]

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Appellate Division Rejects Finder’s Fee Claim

The recent decision issued by the First Department in Multi-Capital Group LLC v. Karasick, et al, 149 A.D.3d 437 (1st Dep’t April 6, 2017) provides a good set of facts to comprehend when a finder’s fee claim is viable. That case concerned the sale of the U.S. Steel Tower Building in Pittsburgh. The plaintiff submitted the winning bid to purchase the building via a letter of intent that included a $348 million purchase price. However, the plaintiff’s principal never actually intended to purchase the building. Rather, he intended to procure investors who would do so. In July 2007, the plaintiff [...]

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First Department Blesses Customary Rent Prove-Up Practice Utilized by Commercial Landlords

The recent decision in Moon 170 Mercer, Inc. v. Vella, 146 A.D.3d 537, 45 N.Y.S.2d 415 (1st Dep’t 2017) blesses the practice commercial landlords customarily utilize to prove-up the rent for which a tenant or guarantor is liable. In this case, the First Department granted summary judgment to the commercial landlord against the guarantor and held: “[t]he damages calculation spreadsheet on which plaintiff relies in its motion for summary judgment is a ledger maintained in the ordinary course of business…and plaintiff’s vice president’s affidavit explaining the calculations and the spreadsheet suffices to authenticate the document.” If a trial to establish [...]

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Commercial Division Rejects Landlord’s Application to Vacate Arbitration Award Establishing Fair Market Rent to be Paid by McDonald’s Restaurant

The recent decision by Hon. Shirley Werner Kornreich in Broadway Retail Owner, LLC vs. McDonald’s Corp., No. 651884/2014, 2017 N.Y. Slip. Op. 50011(U), 54 Misc.3d 1206(A) (Supreme Court, New York County, Jan. 9, 2017) concerned a very common provision in commercial leases, which established future rent based upon a percentage of the fair market rent (“FMV”), and provided that if the parties could not agree on the FMV, the issue would be resolved by a binding arbitration. The FMV percentage amount in McDonald’s was 90%. After the parties could not agree on the FMV, an arbitration was commenced. The panel found [...]

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Hon. Sabrina B. Kraus Orders Seller to Return Purchaser’s Down Payment

The recent decision in Gonzalez v. Char & Herzberg, LLP, 2017 WL 1031941 (Bronx County Mar. 13, 2017) concerned a dispute that frequently arises after a deal blows up - whether or not the purchaser has the right to recover her down payment. The purchaser agreed to purchase a single-family home located in Bronx County and delivered a $20,000 down payment to the escrowee. The contract of sale included a mortgage commitment contingency, which conditioned the purchaser’s obligation to close on a lender’s commitment to issue a $495,000 loan for a term of at least 30 years within 45 days. [...]

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Appellate Division Kills Commercial Lease Guaranty Claim for Failure to Submit Original Agreement at Trial

In 76-82 St. Mark’s, LLC v. Gluck (Supreme Court, Kings County) a commercial tenant sought to recover damages for breach of a guaranty agreement. At trial, the landlord’s counsel attempted to enter into evidence a faxed copy of the agreement that was missing two lines on the second page. The trial judge denied admission of the copy and granted the tenant’s motion to dismiss the case on the ground that the landlord failed to meet its burden of proof. By a decision dated February 22, 2017, the Appellate Division, Second Department affirmed the trial court’s decision. Copies of documents are [...]

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3 Ways a Commercial Litigation Attorney Can Help Your Firm

When it comes to litigation, this area is growing by the day. This specialty of law is really beginning to drive not only revenue at law firms but their legal hiring as well. A survey by Robert Half Legal found that up to thirty percent of the hiring that legal departments and law firms do is in this area, filling crucial positions for commercial litigation. Hiring attorneys to do commercial litigation and specialized attorneys in general is a good choice for any law firm. With more and more competition popping up in specialty areas, they can hardly afford not to! [...]

Condos and Co-Ops: Taking on the Secondhand Issue?

When it comes to your housing, is prohibiting smoking in place? Many residential co-op and condo boards are finding that cigarette smoking regulations are a hot button issue. Whether they are able to impose bans on what residents are allowed to do in the privacy of their own home, and whether they should do so or pursue other ways to cut back on secondhand smoke affecting residents is another matter. In the case of Reinhard v. Connaught Tower Corp., a decision by the New York Supreme Court dealt with a situation that concerned this issue. The Connaught Tower Corp. was [...]

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Civil Litigation Cases 101

When it comes to civil litigation cases, are you up to date? A civil litigation is the result of two or more parties that are involved in a legal dispute and are seeking something other than criminal sanctions, such as money. In these types of cases, they must be tried in a courtroom and a judge or jury will weigh in on the matter and ultimately decide the result. Read on to find out more about these types of cases. Civil litigation cases are specialized in by civil litigation attorneys. A civil litigation attorney is also known as a trial [...]

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