By Adam Leitman Bailey New York City Mitchell-Lama cooperatives provide heavily publicly subsidized maintenance payments to those lucky enough to call them home. The New York City Mitchell-Lama program provides 54,000 homes to persons whose financial circumstances would otherwise negate such a possibility. As a result, Mitchell-Lama cooperatives are extremely popular and have decade long Full Article…
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Leasing Dinosaurs, New York Law Journal
By Adam Leitman Bailey and Dov Treiman All of the commercially available form leases for rent-stabilized tenancies are admirable examples of attorney language crafting. They were in their day the latest brilliant word in what sorts of protections a landlord would want to have for the landlord and begrudge to the tenant. They carefully walked Full Article…
In the Spotlight: Drafting Better Leases for the Commercial Tenant,” Law Journal Newsletters
By Adam Leitman Bailey and John M. Desiderio Too many tenants’ businesses have suffered severe financial consequences or lost leases as a result of poorly drafted provisions. Therefore, it is imperative that tenants negotiate better commercial leases in order to protect their interests. The suggestions in this article provide proposed remedies for a few of Full Article…
Preventing Fraud at Closing
November 1st, 2009 There are some simple yet effective steps that can be taken to avert fraud at a real estate closing. At the start of the 21st century, the most effective means to rob a bank no longer includes the use of a gun. The real estate closing table has replaced the gun and Full Article…
Defining When “Time is of the Essence”
By: Adam Leitman Bailey & John M. Desiderio May 9th, 2007 The Court of Appeals has recently reemphasized, for sellers’ attorneys, the importance of drafting clear and unequivocal “time of the essence” clauses in those real estate contracts where circumstances justify conditioning the sale upon the buyer’s timely performance of one or more stated conditions. Full Article…
Letting Go of Leases and Allowing Licenses
By: Adam Leitman Bailey & Dov Treiman May 1st, 2005 Why Licenses? Inevitably, when courts seek to readjust the balance between landowners and non-owner occupants, owners’ counsel will reach into the ancient common-law toolbox to find occupancy arrangements that give owners the panoply of rights and remedies they thought they enjoyed as landlords. In the movie Jurassic Park, Full Article…
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