On February 14, 2022, Justice Borrok of the New York County Commercial Division issued a decision in U.S. Bank N.A. v. 342 Prop. LLC, 2022 NY Slip Op. 30488(U), holding that in the absence of an intercreditor agreement, a mezzanine lender could not prevent a senior lender from foreclosing on a loan . . . Continue reading Mezzanine Lender Lacked Power to Block Senior Lender’s Foreclosure
On January 27, 2022, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Zwebner v. Strulovitch, 2022 NY Slip Op. 30478(U), dismissing a claim for an equitable lien because it was not based on a promise relating to the purchase of a specific property . . . Continue reading Claim for Imposition of an Equitable Lien Dismissed Because it was not Based on a Promise Relating to the Purchase of a Specific Property
On December 8, 2021, Justice Walker of the Eighth Judicial District Commercial Division issued a decision in Amherst II UE LLC v. Fitness Intl., LLC, 2021 NY Slip Op. 51289(U), holding that the COVID-19 pandemic did not render a lease valueless and so rejected a frustration of purpose defense . . . Continue reading Court Rejects Frustration of Purpose Defense Because Pandemic Did Render Lease Valueless
On November 29, 2021, Justice Cohen of the New York County Commercial Division issued a decision in 1855 Broadway LLC v. New York Inst. of Tech., 2021 NY Slip Op. 32501(U), refusing to dismiss a claim for anticipatory repudiation of a real estate sales contract based on factual questions . . . Continue reading Anticipatory Repudiation Claim Survives Dismissal Because of Factual Issues
On November 26, 2021, Justice Masley of the New York County Commercial Division issued a decision in LHWS LLC v. S.L. Green Realty Corp., 2021 NY Slip Op. 32459(U), holding that a plaintiff adequately had alleged an entitlement to a commission on a property sale . . . Continue reading Plaintiff Adequately Pleads Entitlement to Commission on Property Sale
On November 22, 2021, Justice Ostrager of the New York County Commercial Division issued a decision in Glaze Teriyaki, LLC v. MacArthur Props. I, LLC, 2021 NY Slip Op. 32421(U), holding that a lease provision requiring a tenant to reimburse the landlord for its legal fees in a suit relating to the tenant’s default was enforceable . . . Continue reading Lease Provision Requiring Tenant to Reimburse Landlord for Legal Fees in Suit Relating to Tenant’s Default Enforceable
On October 7, 2021, the First Department issued a decision in Vendome v. Oldenburg, 2021 NY Slip Op. 05409, holding that the statute of frauds barred a contract claim relating to the sale of real property . . . Continue reading Statute of Frauds Bars Contract Claim Relating to Real Property Sale
On August 11, 2021, the Second Department issued a decision in Tavor v. Lane Towers Owners, Inc., 2021 NY Slip Op. 04676, holding that use and occupancy is an equitable remedy . . . Continue reading Use and Occupancy Award is Equitable, Not Legal Remedy
