Category Leasing
Security Deposits: Landlords’ and Tenants’ Rights in New York
by Bryan Lane Berson, Esq. A. What is a Security Deposit? A security deposit is a tenant’s cash that a landlord holds during the rental term to offset potential damages caused by the tenant. It is not rent. A landlord need not apply it to the tenant’s last month’s rent. The tenant must still pay […]
Co-ops and Condos in New York: Comparing the Regimes
by Bryan Lane Berson, Esq. A. Introduction. Cooperatives (“co-ops”) and condominiums (“condos”) share some important similarities and have some distinct differences. This column discusses several basic issues that buyers and residents should be aware of. (I refer to the entity as a whole as a “co-op” or “condo,” a unit within an entity as an […]
Purchasing Commercial Real Estate
by Bryan Lane Berson, Esq. Some businesses purchase real estate to house their operations. Transactions to buy office buildings and warehouses are quite similar. Residential purchasers will recognize many similarities as well. After the parties agree on a price, seller’s counsel will send a contract to the buyer and request a down payment. Buyer’s counsel […]
Insuring Against Property & Casualty Losses
by Bryan Lane Berson, Esq. With regard to their businesses, entrepreneurs and executives should think carefully about risks to people and property. They should eliminate and avoid as many risks as possible and insure against the ones that remain. This column will focus on property & casualty insurance and water damage. Property – structures, equipment, […]
Commercial Leases: Comparing Costs, Modifications, and Other Terms
by Bryan Lane Berson, Esq. Real estate (property) is an economic resource regulated principally by municipalities and states. There is no single real estate market. Rather, there are many markets. Conditions may differ among them depending on local regulations and the local economy. While some macroeconomic factors (e.g., interest rates) can affect simultaneously many or […]
The Commercial Leasing Environment
by Bryan Lane Berson, Esq. Manufacturing and most service businesses lease dedicated space for their operations. Commercial landlords and tenants (hereinafter “parties”) memorialize their agreements in commercial leases. Most people are familiar with residential leases, but commercial leases and the applicable landlord-tenant law are quite different. State law tends to protect residential tenants far more […]
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