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Latest News: Changes to the 2019 Housing Stability Tenant Protection Act
Urgent Update Regarding the COVID-19 Pandemic – Read More
No one could have predicted the extreme, once-in-a-lifetime events that began with the March 2020 emergence of COVID-19. Nor could New York City property owners and landlords have imagined the financial roller coaster the pandemic would set off in their industry. Now,...
Originally introduced in 2019, a bill that would bring commercial rent control is again before the New York City Council. Rent control for business properties was in effect in New York City from World War II through 1963, but not reinstated since then. Key aspects of...
We previously wrote about New York City Local Law 22-1005 that provides permanent financial relief to third-party personal guarantors of certain commercial leases during the public health emergency. In that post, we explained that the regulation prevents legal action...
According to a New York City local ordinance enacted in response to the public health emergency, commercial property owners may not enforce third-party personal guarantees to pay rent, utilities, maintenance fees or taxes on which the tenant has defaulted from March...
The COVID-19 era has been a roller coaster for New York City commercial property owners. Collectively, the amount of money at stake in the commercial leases in effect within the five boroughs is certainly astronomical, and when rent payments start to disappear,...
