Latest News & Developments in Commercial Real Estate Law
Since 2008, we have used our real estate law blog as a way to keep readers informed about the latest developments and news within commercial real estate law. Some of the topics we regularly address include court decisions on disputed commercial real estate transactions, limited liability company law and high-end residential real estate transactions. In addition to informing readers, we make it a priority to provide an in-depth analysis of the topics we discuss.
A retail lease in SOHO provided for a renewal rent determined by an “independent MAI appraiser chosen by Landlord”. Should be pretty easy, right? Not so fast says Justice Tolub in Georg Jensen v. 130 Prince Associates LLC, NYLJ, 6/26/09, pg 26. The appraiser hired by the landlord worked for the management company for the landlord. In addition, there was no written retainer agreement with the appraiser, the written report was prepared well after the oral appraisal was given and the appraiser didn’t seem credible to the court. ”[T]he court finds it so flawed in its methodology as ...
