When a store exercises its good guy clause by serving the landlord the good guy notice, it often wants to close during the notice period. This would not be allowed under a “go dark” provision; it would put the Tenant in default of its lease during the good guy notice period, nullifying the good guy’s […]
Read more...Valuation Methods When Selling or Buying a New York Business
When buying or selling a business here in New York, valuation can be tricky. No seller wants to receive less than the business is worth, and no buyer wants to pay too much. A Buyer or Seller always wants some valuation analysis undertaken. Here is a quick guide to a few standard business valuation methods. […]
Read more...ADA lawsuits decrease due to COVID lockdowns
ADA Title III actions against stores, restaurants, or other small businesses have declined over the past six months. Closures in businesses due to the pandemic have understandably resulted in fewer Americans with Disabilities Act cases. ADA Title III cases are designed to address the accessibility (or lack thereof) of disabled persons in public spaces. On […]
Read more...Renegotiations of Retail Leases in the Coronavirus Era
Since the coronavirus crisis began, I have been negotiating rent concessions for many commercial tenants’ clients. In this blog post, I will outline some of the issues and possible resolutions of these lease renegotiations. First, I advise the client to contact the landlord directly to inform them that they can’t pay the total rent. This […]
Read more...Pop-Up Lease Seminar
Glenn D. Wright of the Wright Law Firm and Robin Abrams, broker extraordinaire and Vice-Chairman of Compass Real Estate, will be speaking in an upcoming Strafford live webinar, “Pop-Up” Leasing: Practical Considerations, Key Provisions for Landlords and Tenants” scheduled for Tuesday, January 28, 2020, 1:00 pm-2:30 pm EST. With the sudden downturn in the retail market […]
Read more...Leveling the Playing Field in Commercial Evictions
A New York City Councilman will soon propose a bill that would give small businesses facing eviction access to free (pro bono) attorneys. The Wall Street Journal reports that Mark Levine will introduce the bill this week, based on a similar program for residential tenants. Commercial evictions increased over the last two years in New […]
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Seminar on Billboard Leases
Glenn D. Wright, Eq. is scheduled to be a panelist on a webinar entitled “Billboard Leasing Agreements: Key Considerations for Landlords and Tenants” on June 12, 2018, from 1:00 p.m. to 2:30 p.m. Eastern Time. It is a product of Strafford Continuing Education Webinars. A brief discussion of the material covered is below. Billboards make […]
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Seminar on the Purchase and Sale of Businesses
On Monday, April 2nd, 2018, I will be teaching a seminar on the purchase and sale of businesses for NYC Business Solutions, a New York agency designed to help small business owners. A brief description of the topics covered is below: Buying and Selling a Business: From Valuation to Closing Appraisal, Negotiations, and the Role […]
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Negotiating Tenant Improvement Allowances in an Office Lease
The contributions made by landlords to tenants signing an office lease to build out the space are known as Tenant Improvement Allowances. In a renter’s market, landlords offer incentives to desirable prospective tenants. The money the landlord is willing to spend can be either a lump sum or on a per-square-foot basis. The expenses for […]
Read more...Constructive Eviction-a Risky Defense for a Commercial Tenant
Constructive eviction is when a landlord’s actions, in breach of the lease, create a situation that results in its tenant not being able to use the premises. For example, if the landlord fails to make structural repairs to the roof resulting in water damage to the office tenant, the tenant could claim that the landlord […]
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