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 »
Blogs
Posts Categorized: Real Property
Denial of Lease Renewal Option not an Unjust Forfeiture
On June 7, 2018, the First Department issued a decision in Robert B. Jetter, M.D., PLLC v. 737 Park Ave. Acquisition LLC, 2018 NY Slip Op 04085, holding that a denial of a lease renewal was not an unjust forfeiture, explaining: Jetter argues that denial of its renewal option would work an unjust forfeiture within… Read more »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »