During a commercial property purchase, it is very important to understand exactly what the zoning regulations state for that specific property. This is especially true when it will be used for a future commercial operation or as part of a development project. It must...
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Potential title defects with commercial property
Commercial property litigation can be incredibly expensive. Many commercial properties are worth millions of dollars, and a commercial development project may have investments reaching into the hundreds of millions. Because these types of assets are at stake, it is...
Can a commercial landlord refuse to uphold a force majeure clause?
Commercial leases often run for multiple years. Even if the tenant business closes or begins operating out of a different space, paying rent may still be an ongoing responsibility until the lease technically ends. Those concerned about overextending themselves and...
Can you stop the government from taking your commercial property?
Commercial real estate in New York City can be a cut-throat business. The most strategic and resilient players thrive in an industry filled with intense competition, high stakes and the constant pressure to secure prime properties in one of the most sought-after...
What are nets in a commercial lease?
A commercial lease is vastly more complex than a residential lease. There are many details that need to be considered, both by the property owner and by the business owner or corporate entity that will be leasing that real estate. One thing to begin with is the...
3 extreme condominium bylaws condo associations should avoid
Condominium bylaws serve as the foundation for a harmonious and well-functioning community. They provide structure, outline responsibilities and protect both the condo association and individual unit owners. However, bylaws can do more harm than good when they become...
Critical maintenance issues to confirm in a commercial lease
Signing a commercial lease is a more flexible solution than purchasing real property for a business. In some cases, commercial leases may impose surprising obligations on tenants. Business leaders preparing to sign new commercial leases may need to review the...
Navigating board turnover: Tips for commercial property owners
Frequent changes on a commercial property board can cause confusion and lower property values. When leadership changes too often, new board members bring different ideas that can interrupt important plans, causing the association to lose focus and direction. Proactive...
What is the quiet enjoyment provision?
Imagine arriving at your office to find construction noise so loud your team can't make calls. Or your retail space suddenly lacks heating during winter, driving away customers. These are valid concerns—and protected rights under the law. Unfortunately, some NYC...
How to avoid common disputes regarding special assessments
In condominiums, the board of directors can sometimes charge additional fees beyond regular dues. These extra fees, also known as special assessments, provide a financial lifeline for unexpected expenses and major projects. But while special assessments are crucial...
