CRE Insider Blog
Welcome to the Commercial Real Estate Insider, insights from First American's real estate experts.

Ny Statute (2019) Prohibiting Lease Provisions Waiving The Right To Bring A Declaratory Judgment Actions Held Not Retroactive

By Mike Berey on August 18, 2021

As noted by the Supreme Court, Kings County, the issuance of a Yellowstone injunction must be predicated on an action for a declaratory judgment. Leases entered into in 2010 provided that the tenants waived the right to bring declaratory judgment actions with respect to any lease provision or any notice sent pursuant to the leases. Based on that...

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Waiver Not A Consent To Further Expansion Of Zoning Lots

By Mike Berey on July 29, 2021

The ground lessee of tax Block 248 Lot 76 in New York County and its mortgagee, the Plaintiffs, objected to the expansion of a zoning lot which included tax lots 15 and 76.  The Plaintiffs had each executed a Waiver of Declaration of Zoning Lot when those tax lots 15 and 76 were combined into a single zoning lot. The Plaintiffs asserted that the...

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Topics: CRE land zoning

The Second Coming Of Suburbia: Reshaping Real Estate For The Next Generation

By Mark Fleming on July 9, 2021

The pandemic accelerated economic and market trends that are likely to impact demand for real estate of all types. The increased adoption of technology and pivot to telework has expanded the geographic flexibility among those driving residential and commercial real estate demand. Commercial real estate markets – retail, office, and multifamily in...

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Your Guide To The 2021 Real Estate Law & Customs By State

By First American NCS on May 24, 2021

Newly revised, this guide provides comprehensive real estate customs, laws, and guidelines in all 50 states. As a bonus, we’ve added the latest on eClosing RON status! 

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Topics: Commercial News state by state guide real estate law and customs guide free guide

Impact Of The Pandemic In New York City

By Mike Berey on March 24, 2021

A number of decisions were handed down on the impact of the Pandemic on commercial leases.

New York City has enacted Local Law No. 55-2020, adding Administrative Code Section 22-1005 (“Personal liability provisions in commercial leases”), also known as the “Guaranty Law.” The Guaranty Law provides, in part, the following:

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Topics: laws for pandemic impact of the pandemic

Debtor’s Rights Of Redemption From A Mezzanine Loan Ucc

By Mike Berey on March 16, 2021

In Atlas MF Mezzanine Borrower, LLC v. Macquarie Texas Loan Holder LLC, 2019 NY Slip Op 04495, decided June 6, 2019, the Appellate Division, First Department, dismissed causes of action seeking an Order overturning a mezzanine loan foreclosure sale, on grounds including claims that the lender breached the duty of good faith and fair dealing by not...

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Topics: mezzanine loan

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