Articles
Lease Restructuring & Forbearance
With the downturn in the economy, many retail stores are losing revenue. This in turn hinders their bottom line and ability to pay rent. Landlords are trying to maintain occupancy and tenants are looking to stay in their leases. As a result, there is a trend among landlords and tenants to enter into Forbearance Agreements. READ MORE »
Commercial Rental Market
The New York City office rental market has taken the hits of the economy. As unemployment rises and the economy sinks lower, the needs of corporations for space in the city has seriously declined. Not only has the need for space decreased for new businesses, but the existing commercial tenants have relinquished their current space. READ MORE »
Courts Not Processing Foreclosures
Court Systems across the country are having difficulty with the increase in foreclosure filings. The New York court system has created Special Foreclosure Parts to deal only with foreclosure filings. Between 2005 and 2008, foreclosure filings increased by over 150% statewide. READ MORE »
The Home Equity Theft Prevention Act: A Practical Approach
The Home Equity Theft Prevention Act became effective on February 1, 2007. It amends 595 of the Banking Law, and adds new sections to both the Real Property Actions and Proceedings Law (RPAPL). This article will examine the new provisions created by the Act. READ MORE »
The City Council Expands the Jurisdiction of the Housing Court to Include Tenant Harassment
On March 13, 2008, Mayor Michael R. Bloomberg signed Local Law No. 7 of 2008, amending the Administrative Code of the City of New York, expanding the jurisdiction of the Housing Court to include allegation of tenant harassment. What is "tenant harassment?" READ MORE »
Co-Ops and Condos: The Applicability of the Business Judgment Rule to Board Decisions by Calabro & Associates, P.C.
Cooperative and condominium directors owe a fiduciary duty to the membership to exercise their authority in the best interests of the corporation or association and all of its shareholders and owners. The concept of cooperative living is both utilitarian and libertarian. It embodies community and freedom. READ MORE »