Posts Categorized: Real Property

Posted: July 17, 2018

Claim for Return of Down Payment Survives Dismissal Based on Allegation That Sellers Were Not Ready, Willing and Able to Close

On July 5, 2018, the Second Department issued a decision in 313 43rd St. Realty, LLC v. TMS Enterprises, LP, 2018 NY Slip Op. 05013, holding that a claim for the return of down payments was sufficient based on allegations htat the sellers were not ready, willing and able to close, explaining: As a general… Read more »

Posted: June 5, 2018

Party Cannot Enforce Estoppel Certificates it Accepted Knowing that the Representations Were Not True

On June 5, 2018, the First Department issued a decision in Aerotek, Inc. v. 757 3rd Ave. Associates, LLC, 2018 NY Slip Op. 03943, holding that a party could not rely on an estoppel certificate it accepted knowing that it was not true, explaining: Plaintiffs seek to recover tenant improvement costs pursuant to two leases…. Read more »

Posted: May 3, 2018

Specific Performance on Real Estate Contract Inappropriate Where No Evidence of Plaintiff’s Ability to Close

On April 18, 2018, Justice Ash of the Kings County Commercial Division issued a decision in Silvershore Props. LLC v. Dunning, 2018 NY Slip Op. 30715(U), denying specific performance of a contract to sell real property, explaining: Typically, a contract is not breached until the time set for performance has expired. To prevail on a… Read more »

Posted: April 25, 2018

Whether Metes and Bounds Description, Street Address or Tax Lot Numbers Determines What Property is Encumbered by Mortgage is a Question of Fact

On April 18, 2018, the Second Department issued a decision in JPMorgan Chase Bank, N.A. v. Zhan Hua Cao, 2018 NY Slip Op. 02603, holding that where the property descriptions in a mortgage were inconsistent, which description was meant to be binding was a question of fact, not law, explaining: Real Property Law § 240(3)… Read more »

Posted: March 29, 2018

Statute of Limitations Does Not Apply to Claim Based on Allegedly Forged Deed

On March 13, 2018, Justice Knipel of the Kings County Commercial Division issued a decision in Stewart v. VSR Stewart Mgt., LLC, 2018 NY Slip Op. 30433(U), denying a motion to dismiss on statute of limitations ground, holding that the statute of limitations was not a defense to a claim based on a forged deed,… Read more »

Posted: March 24, 2018

If Mortgage Commitment Letter is Revoked, Question of Whether Mortgage Contingency Applies Depends on Reasons for Revocation

On March 16, 2018, the Fourth Department issued a decision in Md3 Holdings, LLC v. Buerkle, 2018 NY Slip Op. 01836, holding that if a mortgage commitment letter is revoked, the question of whether the mortgage contingency applies depends on the reason for the revocation, explaining: Defendant contracted to purchase plaintiff’s commercial building in the… Read more »

Posted: March 19, 2018

Salesperson Supervised by a Broker Can Make Claim for Commission Based on Oral Contract

On February 20, 2018, Justice Ostrager of the New York County Commercial Division issued a decision in Saran v. Shanghai Chengtou (USA), LLC, 2018 NY Slip Op. 30292(U), holding that a salesperson supervised by a broker can make a claim for a commission based on an oral contract, explaining: While it is clear on the… Read more »

Posted: February 26, 2018

Second Department Holds That Yellowstone Remedy Can Be Waived In A Commercial Lease

On January 31, 2018, the Second Department issued a decision in 159 MP Corp. v. Redbridge Bedford, LLC, 2018 N.Y. Slip Op. 00537, in which a divided Second Department panel upheld a decision by Justice Schmidt of the Kings County Supreme Court that denied a Yellowstone application and dismissed a declaratory judgment action seeking a… Read more »

Posted: February 2, 2018

Court Orders Specific Performance of Contract to Sell Real Estate

On January 22, 2018, Justice Scarpulla of the New York County Supreme Court issued a decision in Split Rail Holdings LLC v. 176 Grand St. Corp., 2018 NY Slip Op. 30130(U), granting specific performance of a contract to sell real estate, explaining: To establish its entitlement to specific performance, the party seeking such relief must… Read more »