Commercial leases in New York are not immune to the effects of COVID. Enforced shutdowns of “non-essential” businesses by governmental authority has led to mass closure of many retail stores and restaurants and record-high unemployment rates. Even restaurants limited to the restriction of takeout and delivery service are suffering severely…
News outlets have recently reported that Lady Gaga’s father is refusing to pay the rent due on the commercial restaurant space occupied by him in Grand Central Terminal. Essentially, he has claimed that physical conditions interfere with the successful operation of his business. These conditions allegedly include a growing…
Most of us have been recently inundated by reports of the Coronavirus pandemic. Although many of our readers do not travel to some of the afflicted locations, fear has a way of becoming contagious in its own right and can have negative business consequences. Fundamentally, the fear is…
The region served by this law firm certainly has its share of vacant commercial spaces. An unproductive business environment at times leads to the consideration of closure by other businesses. When a commercial lease ends prior to its termination date, it is know in the industry as “going dark”. It…
We endeavor to inform our readers as to relevant news pertaining to our region. One of the Fairway grocery stores located in Rockland County closed yesterday. This store is part of a chain comprising approximately fifteen stores. As reported , the tenant was in year six of its commercial lease. …
We often have inquiries from clients considering the purchase of a business. An experienced attorney should be consulted when commencing this process. Initially, the seller’s attorney will deliver the contract to the buyer’s attorney for negotiation. Should the business being sold be a franchise, the final contract should be conditioned…
Prior blog posts have discussed the difference between the two types of landlord-tenant eviction proceedings. To summarize, non-payment proceedings occur when a tenant fails to pay rent or other charges due to the landlord. Holdover proceedings, which will be discussed in this post, happen when a tenant’s lease term has…
The New York Times recently published an article concerning the beloved business Tea & Sympathy, a British-themed store and restaurant located in Manhattan’s Greenwich Village, and the difficulty that it has encountered meeting its lease obligations. Closure of this business may occur unless the landlord is willing to amend the…
Scheduled for this Sunday is the Super Bowl between the New England Patriots and the Los Angeles Rams for the championship of the NFL. Recent news stories in the New York metropolitan area involve the possibility of making legal sports bets on the “big game” at casinos or racetracks located in…
Our readers who follow the news are aware that the Federal government has been partially shut down for several weeks. President Trump has taken the position that he will not agree to re-open the government unless a wall is erected along our southern border. The Democratic leadership has responded that it…