By Adam Leitman Bailey and Dov TreimanSeptember 2020  ew York is in one of its worst depressions since the American Revolution. Few landlords and commercial tenants have been completely immune from the governmentally imposed economic shutdown and COVID-19’s wrath. Not including what may have been negotiated in a commercial lease, there are three traditional theories  Full Article…

By Massimo D’Angelo As the COVID-19 contagion ravages the globe while a vaccine and effective drugs to combat the virus are still frantically under development, most businesses around the world have been forced to close, resulting in tremendous financial losses. Although businesses in New York are gradually phasing toward fully reopening, the brick-and-mortar operations such  Full Article…

By William J. Geller, Adam Leitman Bailey, P.C. On April 16, 2020, Governor Cuomo issued Executive Order 202.18 (EO 202.18), which among other things, extended several deadlines applicable to condominium and cooperative offering plans.  EO 202.18 tolls several deadlines that could prevent condo/co-op sponsors from completing and selling condo/co-op projects, though it does not significantly  Full Article…

In the midst of the current economic deep distress, there are, and will continue to be, countless communications from tenants to real estate owners requesting forbearance from the payment of rent. This will in turn no doubt trigger requests from owners to their lenders, requesting forbearance with respect to mortgage payments.  The following discusses some  Full Article…

By Analina Smeraldi July 7, 2020 I first became intrigued with Adam Leitman Bailey while reading the 250th issue of The Real Deal. In it, the publisher and editor discussed a series of cases where Bailey used an “ingenious” legal weapon that caused Congress to intervene and change the law. They further noted that The Real Deal’s largest advertisers  Full Article…

Local government in New York City has adopted recent legislation adversely impacting commercial landlords by abolishing personal guarantees that were used at lease inception, to induce those landlords to enter into those leases. Based upon longstanding legal precedent, this legislation could be found to be facially invalid on constitutional grounds. By Massimo F. D’Angelo | May 26, 2020  Full Article…

By William J. Geller We are in the calm before the storm.  With the state court system shut down for non-emergency matters, and evictions and foreclosures stayed, businesses have little reason to file for bankruptcy now, even though the Bankruptcy Courts are open and working remotely.  However, once the COVID-19 emergency measures ease, and the  Full Article…