Representing a commercial landlord, Adam Leitman Bailey, P.C. successfully sued the tenant and guarantors for unpaid rent in Manhattan Supreme Court, winning a $1.6M monetary judgment, which included rent arrears accumulated before and during the COVID-19 pandemic. The tenant rented a prime location to operate a food market at a base rent of about $70,000.00 Full Article…
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The Upstate Vs. The Downstate Closing
Along with the pandemic came a dramatic increase in the purchases and sales of upstate New York properties. Our banking department rapidly began to receive upstate closing files and quickly began to learn the defining differences between upstate and downstate (NYC and surrounding counties) real estate closings. Let’s explore some of these differences. Downstate closings Full Article…
Adam Leitman Bailey, P.C. Defeats Dismissal Motion In Problematic Foreclosure Action
Adam Leitman Bailey, P.C. was retained by a Lender to take over a disastrous 7-year-old foreclosure action that was already plagued with an order tolling interest to the detriment of the Lender for prior delays in the action. Defendants moved to dismiss the action pursuant to CPLR § 3215(c) for the Lender failing to take Full Article…
Adam Leitman Bailey, P.C. Helps Landlords and Sellers Navigate the Pandemic Against Defaulting Renters and Purchasers
COVID-19 has disrupted the ordinary course of dealing in both the residential leasing and sales sectors, with renters and buyers using COVID-related excuses and delays in attempts to avoid paying rent and close on sales in a fluctuating market. However, using a distinct combination of deep institutional knowledge about the Real Estate market, aggressive litigation Full Article…
Adam Leitman Bailey, P.C. Obtains Restraining Order to Lock Out Violent Illegal Short-Term Rental Operators with New York Police Department Assistance
Adam Leitman Bailey, P.C. secured an emergency temporary restraining order for its landlord client before Christmas, obtaining permission from a Supreme Court Judge to change the locks and seal the doors to three apartments with New York Police Department (NYPD) assistance to keep out violent illegal short-term rental operators. First, Adam Leitman Bailey, P.C. secured a Full Article…
Adam Leitman Bailey, P.C. Helps Seller Retain Purchaser’s Deposit in Contentious Litigation
Adam Leitman Bailey, P.C. represented owners of a Manhattan cooperative apartment who contracted in June 2021 to sell the apartment to sophisticated buyers, securing a standard 10% deposit on signing. The purchase contract contained standard terms, including an unconditional approval from the sellers’ co-op board. The apartment in question had previously been outfitted with central A/C and Full Article…
Adam Leitman Bailey, P.C. Remains Vigilant and Prepared as Omicron Sweeps Through State
As the Omicron variant sweeps its way through New York City, the banking department at Adam Leitman Bailey, P.C. is working safely and diligently to ensure all files are closed on time and in accordance with all CDC guidelines. Our staff continues to maintain the required social distancing, disinfecting regularly, always wearing masks during the Full Article…
Adam Leitman Bailey, P.C. Successfully Negotiates Almost Complete Relief for a Landlord Seeking Arrears From Rent-Stabilized Tenant
COVID-19 has disrupted the ordinary course of dealings in both the residential leasing and sales sectors, with renters and buyers using COVID-related excuses and delays in attempt to avoid paying rent and close on sales in a fluctuating market. However, using a distinct combination of deep institutional knowledge about the Real Estate market, aggressive litigation Full Article…
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