Real Estate

  • New York Law Journal | News

    First Department Underscores Arbitrator's Authority in Dispute Over Real Estate Brokerage $183K Commission

    By Jason Grant | November 29, 2018

    The unanimous Appellate Division, First Department panel pointed out that New York law provides few grounds for undoing an arbitrator's decision.

  • New York Law Journal | Analysis

    Realty Law Digest

    By Scott E. Mollen | November 27, 2018

    Scott E. Mollen, a partner at Herrick, Feinstein, discusses '273 Lee Avenue Tenants Ass'n v. Steinmentz,' where issues of fact existed as to whether the landlord's actions were motivated by discrimination; and 'Matter of Healy v. Town of Hempstead Bd. of Appeals,' where a board of appeals' SEQRA declaration was found fatally flawed, vacating the board's determinations.

  • New York Law Journal | Analysis

    US Supreme Court May Alter Process for 'Takings' Claims Against Local Govt's

    By Anthony S. Guardino | November 27, 2018

    In his Zoning and Land Use Planning column, Anthony Guardino discusses the Supreme Court's recent consideration on how to deal with a 33-year-old precedent that set the procedures property owners must follow before challenging a municipality's actions in federal court as an unconstitutional “taking.”

  • New York Law Journal | Analysis

    New York Court Finds Lender Has No Security Interest in FAR Bonus

    By Janice Mac Avoy and Justin J. Santolli | November 26, 2018

    The New York County Supreme Court's decision in 'CB Frontier v. Wilmington Trust, N.A.' to grant summary judgment holding that the floor area ratio bonus was not collateral under the mortgage surprised many in the commercial real estate community. While the decision has been appealed to the Appellate Division, the current decision raises areas of concern for lenders, and could lead borrowers (and lenders) to more closely scrutinize their existing loan documents to see if they will support a claim that a FAR bonus is not collateral under the mortgage.

  • New York Law Journal | Analysis

    Realty Law Digest

    By Scott E. Mollen | November 20, 2018

    Scott E. Mollen, a partner at Herrick, Feinstein, discusses “Milone v. US Bank Nat'l Ass'n,” where the court held notice did not establish the bank's standing to de-accelerate the prior mortgage payment demand, and “Webster Ave. Holdings v. Pough,” where the tenant was awarded partial summary judgment on a laches defense.

  • New York Law Journal | Analysis

    FAR Bonus Rights as Mortgage Collateral

    By Jeffrey B. Steiner and Dino Fazlibegu | November 20, 2018

    In their Financing column, Jeffrey B. Steiner and Dino Fazlibegu use the New York Supreme Court case CB Frontier v. Wilmington Trust to serve as cautionary tale for mortgage lenders, and their attorneys, who make loans to borrowers who may own FAR bonuses.

  • New York Law Journal | News

    Court Voids Lease Provision Imposing Fees on Tenant in Landlord Default

    By Jason Grant | November 15, 2018

    The panel wrote that “an attorneys' fees provision which provides that the tenant must pay attorneys' fees if it commences an action against the landlord based upon the default of the landlord is unconscionable and unenforceable."

  • New York Law Journal | Analysis

    Latest Decision Reaffirms RMBS Statute of Limitations Principle

    By Lynn K. Neuner and William T. Russell Jr. | November 14, 2018

    In their New York Court of Appeals Roundup, Lynn K. Neuner and William T. Russell Jr. discuss 'Deutsche Bank National Trust Company v. Flagstar Capital Markets Corporation', the latest in a series of decisions construing the application of New York's statute of limitations to residential mortgage backed securities (RMBS) claims.

  • New York Law Journal | Analysis

    Deregulation of Rent Regulated Apartments

    By George M. Heymann | November 14, 2018

    With the Democrats poised to take control of the State Senate in January 2019, coupled with a Democratic Assembly, major changes regarding rent regulated apartments will be in the pipeline.

  • New York Law Journal | Analysis

    Realty Law Digest

    By Scott E. Mollen | November 13, 2018

    Scott E. Mollen, a partner at Herrick, Feinstein, discusses three cases: the landlord-tenant case “Morris v. Morris,” where the court found that a familial relationship required dismissal of the licensee proceeding and that an adoptive or biological relationship is irrelevant; “101 W. Owner I LLC v. 715-723 Sixth Ave. Owners Corp., which involved a special proceeding to confirm an appraisal award arising from a rent reset proceeding, and “Plotch v. Wells Fargo Bank,” where the court rejected the plaintiff's claim that he lacked notice based on the notary's illegible signature.

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