Posts
January 06 2022
Client Alert: Lincoln St. Mezz II, LLC v One Lincoln Mezz 2 LLC
On December 6, 2021, the Supreme Court of the State of New York, Kings County held that a mezzanine borrower could not block a mezzanine loan foreclosure sale during the December holiday season on commercial reasonableness grounds based on the facts briefly summarized in the alert.
Click here to read the alert.
October 21 2020
NY Commercial eviction and foreclosure ban extended until January
Landlords looking to boot non-paying commercial tenants will have to wait until the new year. New York’s moratorium on commercial evictions and foreclosures due to non-payment of rent will be in place through Jan. 1, 2021, Gov. Andrew Cuomo announced in a press conference Tuesday.
www.therealdeal.com
October 09 2020
Housing Court: New York evictions can resume Monday
Evictions may resume in New York on Oct. 12, but with “important caveats,” the court system announced today.
www.therealdeal.com
June 30 2020
Client Alert: Federal Reserve Main Street Lending Facilities: An Alternative for Small and Medium Sized Businesses
This alert updates our April 15, 2020 client alert on the Main Street Lending Program. The three lending programs described below are in lieu of the Main Street Expanded Loan Facility and Main Street New Loan Facility described in our April 15, 2020 client alert.
Click here to read the alert.
June 11 2020
Article: New NYC Commercial Lease Personal Liability Protections: What’s the Story?
On May 26, 2020, legislation was enacted in NYC which has been characterized by some as a shield against personal liability under commercial leases during the COVID-19 pandemic. While the law may provide some measure of protection to tenants, it may not exactly live up to the portrayal given by the sponsoring City Council member and others.
Click here to read the article.
May 19 2020
5 Steps To Take In Discussions with Your Mortgage Lender
Commercial property owners face not only economic challenges, but other complex decisions and concerns they must consider as they navigate through the current crisis — not least of which is dealing with their mortgage. We’ve listed 5 (non-exclusive), top-line steps that a commercial property owner/borrower must take when embarking upon a “workout” discussion with a lender.
Click here to read the alert.
April 29 2020
The SBA resumed accepting Paycheck Protection Program (“PPP”) applications from participating lenders on Monday, April 27, 2020, following Congress and the White House’s agreement to replenish the PPP fund with $310 billion for loans last week.
Click HERE for the announcement.
April 20 2020
The U.S. Chamber of Commerce started a Save Small Business Fund offering $5,000 grants to qualifying small businesses which have been financially harmed by the Covid-19 pandemic, employ between 3 and 20 employees, and are located within eligible “economically vulnerable communities.” Applicants may apply at https://savesmallbusiness.com.
Click HERE for more information.