To a large extent, modern business is built on the foundation of contract law. Indeed, one could argue that companies could not function without contracts. Because modern business involves so many contracts, a large percentage of business-against-business litigation involves various allegations of breach of contract. For this reason, knowing how New York courts interpret contracts […]
Read more...Revenue Sharing or Profit-Sharing in NYC Commercial Leases
Revenue-sharing and profit-sharing in NYC commercial leases remain fashionable even though the recent pandemic is beginning to recede. During the pandemic, because of mandated closures and other factors, many landlords and tenants looked to revenue/profit-sharing arrangements as a method to prevent lease defaults and permanent business closures. However, revenue/profit sharing is not particularly new and […]
Read more...The COVID-19 Guaranty Law and NYC Commercial Leases
During the COVID-19 pandemic, among other things, New York City passed an Ordinance prohibiting the enforcement of personal guaranties in commercial leases for specific restaurants and retail stores. Generally, this has become known as the NYC Guaranty Law. With many NYC commercial restaurant and retail store leases, a landlord will require that the business owners […]
Read more...Now may be the Time to Lease Space due to Large Retail and Office Vacancies
If you have been thinking of starting your own business in New York City, now may be the time since NYC remains “awash with space,” as reported in this NY Post media article. From the report, Manhattan availability rates continue to hover around 17%, and average asking rents are around $75 per square foot. As […]
Read more...NY Eminent Domain and Commercial Lease Provisions
There was an interesting article in TheRealDeal — see here — about the New York town of Southhold’s efforts to use the power of eminent domain to seize property in the Town owned by Brinkmann Hardware. The site in question is about 1.75 acres along the main street in Southold. Brinkmann Hardware bought the property in 2016, […]
Read more...Not Everything on a Website must be ADA-Compliant says Federal Court
In general, the Americans With Disabilities Act (“ADA”) requires that businesses must accommodate those with disabilities when using their facilities and services. Over the past decade, federal and State courts have expanded the ADA accommodation rules to include websites (under many circumstances, but not all). That is, websites must be ADA-compliant by using “translation” software […]
Read more...Explaining “Standing” in ADA Litigation
Standing” is a legal concept that serves as a “gate-keeping” function in litigation. It allows only those with an interest in the case to be involved. So, for example, if there is a dispute between two NYC businesses, they will hire experienced NYC attorneys to file, defend, and prosecute the litigation. No one involved wants […]
Read more...Tortious Interference with Sales Contracts in NYC Real Estate Deals
Under New York law, persons and businesses are generally free to enter into various contracts, including selling and purchasing real estate. Further, under New York law, third parties cannot use unlawful means to interfere with an existing or potential contract. If this happens, the third party could be liable for monetary damages. This is what […]
Read more...NYC Commercial Lease Litigation: Dangers of Being a Subtenant
It is not unusual for tenants to lease New York City commercial lease space as a subtenant. That means the main lease is between the property owner and the primary tenant. The primary tenant then gives a sublease to the party occupying the space. If you are considering signing a sublease, you should seek legal […]
Read more...Negotiating Your NYC Commercial Lease: Rent Escalation Clauses and Inflation
Unless it is a short-term lease, every New York City commercial lease contains at least one rent escalation clause. There are several types, but, in general, these clauses increase the rent — and other tenant payment obligations — on a fixed schedule (which is often yearly). This article includes topics for commercial litigation, landlord-tenant, and […]
Read more...