So, here’s the scoop: a commercial landlord and tenant had a bit of a showdown in court, trying to figure out if the landlord’s actions ruined the tenant’s business and if the landlord’s repairs caused a constructive eviction. Let’s take a closer look at how this played out. Both sides tried to get some pre-trial […]
Read more...Category: NYC Law
Is it Possible to Sign a Commercial Lease Electronically?
In today’s commercial lease agreements, it’s quite common to find provisions that permit electronic signatures and the use of platforms like DocuSign. However, it’s essential to note that certain signatures, such as those on a Guaranty, may require notarization. In such cases, the notarized signature is usually provided in hard copy to the Landlord’s legal […]
Read more...Cannabis Dispensaries and Risks to their Landlords
Landlords in New York City who knowingly rent commercial spaces to illicit marijuana dispensaries may now be subject to fines, with penalties reaching up to $10,000, following the recent approval of legislation by the City Council. The bill, championed by Lynn Schulman (D-Queens), marks a significant shift in enforcement focus. It mandates that city authorities […]
Read more...LLC Transparency Act
The New York State Senate and Assembly have given the green light to the LLC Transparency Act (referred to as the “LLC Act”), which, if Governor Kathy Hochul signs it into law, will bring changes to the New York Limited Liability Company Law. These changes will mandate the disclosure of the individuals who benefit from […]
Read more...Artificial Intelligence in Retail Stores
In the digital realm, online retailers can gather extensive data on every visitor to their virtual stores through artificial intelligence. In contrast, brick-and-mortar retailers have limited means to discern their customers’ preferences, often resulting in missteps. Let’s examine a prominent illustration of this phenomenon: Retailers frequently employ “buy-one-get-one-free” promotions to encourage consumers to purchase more. […]
Read more...Usable and Rentable Square Feet in Commercial Leases
Usable and Rentable square feet are terms commonly used in the real estate and commercial leasing industry to describe different office or retail space measurements. These terms help property owners, tenants, and landlords understand how the space is allocated and what they pay for. Here’s the difference between the two: How to measure Office and […]
Read more...Can I Terminate My NYC Office Lease Early?
Terminating a NYC office lease early is very difficult. This is one reason that it is essential to consult an experienced NYC commercial lease attorney BEFORE signing a commercial lease. Landlords are in the business of making money through the rental of their buildings and property. As one can imagine, commercial leases generally do not […]
Read more...Vacant Office Space Threatens NYC Economy
New York City, a hub of commerce and innovation, has long been synonymous with bustling office spaces and iconic skyscrapers. However, the COVID-19 pandemic and the subsequent rise of remote work have significantly impacted the utilization of office spaces in the city. This blog post explores the evolving dynamics of vacant office space in the […]
Read more...What Happens if I Break My NYC Commercial Lease?
If you, as a tenant, break your NYC commercial lease, the likely answer is that you will owe your landlord money. Most certainly, you will receive at least one letter from your landlord’s attorney, and, most likely, in that letter, you will be threatened with litigation. However, litigation may or may not happen. Some sort […]
Read more...Do I Really Need an Attorney to Negotiate a Commercial Lease?
In brief, yes. Commercial tenants absolutely need the help of experienced and tough NYC commercial lease lawyers to help negotiate commercial leases. We provide those services here at Wright Law Firm NYC. We can be reached at (212) 619-1500. But if you do not want to call us, we strongly urge you to contact a […]
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