Termination of New York Commercial Leases based on Violation of New York Law

New York landlords may terminate a commercial lease agreement based on a tenant utilizing a leased premise for a violation of New York or U.S. Federal Law.  A recent NY court holding leads credence to the understanding that even a single violation of law related directly to the illegal use of a New York leased property can lead to the the ability of the NY landlord to immediately void the NY lease and seek eviction. New York Real Property Law Eviction for Illegal Use of Property New York Real Property Law Sec. 231(1) allows for a NY landlord to immediately evict a NY tenant for using the leased property, in New York, for an illegal trade or other illegal use of the prmises.  Hayes & Simon attorneys suggest, also, having a clause in your New York commercial lease agreement noting that you have the right to evict a New York

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What Brexit Means For The New York Real Estate Market

With the shocking news breaking that the United Kingdom has voted to leave the European Union, many New York businesses who transact business internationally, or who cater to an international clientele here at home are left to wonder what Brexit means for them.  For the real estate market, the effects are probably the easiest to sort out. We have had many real estate and corporate clients contact us requesting advice on the effect the U.K. leaving the E.U. will have on their business in New York.  We will be writing about this issue over the next couple of weeks here and, also, on our sister blog at: The Korean Law Blog.  First, don’t expect an interest rate increase this summer because the volatility created by this unexpected news means that the Federal Reserve will want to keep rates as consistent as possible.  So if your New York business has interest

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