Schedule a FREE Consultation:
(212) 803-9025

New Bill Could Mandate Retail Lease Renewals in New York City

The termination date for many commercial leases in NYC could soon become more flexible. On April 29, 2021, Councilwoman Helen Rosenthal introduced a City Council bill (Int. No. 2299) which, if passed, would allow, amongst other things, for certain commercial tenants to exercise a one-time option to extend their lease up to an additional 12 months. Under the “Storefront Business Bill of Rights,” affected Landlords Read More

Real Estate Policies of NYC’s Top 4 Democratic Candidates for Mayor 

While we at BFK are split between vegan cheese or clams for our favorite pizza topping (if you are confused, see Mayor De Blasio explain ranked-choice voting here), we all agree that the New York City mayoral candidates’ real estate policies are of particular interest to us. On June 22nd, New York City residents will head to the polls for the mayoral primary election. As of June 14th, according to the Marist Read More

How to Make a Non-Compete Agreement Enforceable in New York

A non-compete agreement can benefit an employer greatly. Non-compete agreements are legally-binding contracts or clauses in a contract in which an employee agrees not to work for a competitor in the same industry while working for your company and even for a period of time after they stop working with you.  These agreements can adversely affect an employee’s mobility within an industry, limiting their employment Read More

The End of the Commercial Eviction Moratorium is Near (Or is it?)

The End of the Commercial Eviction Moratorium is Near (Or is it?) If you rent New York City commercial space, the future has been constantly in question since the COVID-19 pandemic began. On March 20th, Governor Cuomo issued the initial eviction moratorium, prohibiting both commercial and residential evictions through June 20th, 2020 in the wake of the onset of the COVID-19 pandemic. In today’s blog post, we look Read More

The Top Four Dangers of DIY Contracts for Small Businesses

The Top Four Dangers of DIY Contracts for Small Businesses  Contracts are an important tool for managing your small business’s relationships. Most business owners understand the importance of having contracts in place, but too often people assume that a contract just means printing off the first document they find on Google. In today’s blog post, we’re looking at some of the biggest issues to consider when taking Read More

Three Things Tenants Should Know About Commercial Evictions

The COVID-19 pandemic has had a devastating effect on the New York City economy. Many businesses have fallen behind on rent, and some may have to deal with the possibility of an eviction in the coming month. Many of our past videos have discussed the particulars of commercial leases including personal guarantees, force majeure clauses, and changes to the law that may affect commercial tenants. But in today’s blog Read More

Co-op Memo: PPP Eligibility

A number of our clients have asked us to analyze whether Housing co-ops are eligible for the Paycheck Protection Program (“PPP”).1 On April 2, the Small Business Administration (“SBA”) issued its Interim Final Rule (“IFR”), meant to give guidance as to the implementation of the PPP.  The IFR describes which businesses are ineligible for the PPP. The IFR states that ineligible businesses are identified in the Code Read More

Financial Assistance Options for Small Businesses in New York Being Affected by Covid-19

We know that this is a scary time and that a lot of you have businesses that are being affected by the Covid-19 shutdowns. While this is a rapidly developing situation, we want to provide you with the most up to date information on the resources that are currently available. We will keep you posted as we continue to gather more information. Small Business Administration Federal Disaster Loans The Federal Small Read More

Commercial Leasing and Covid-19

Over the last week, we have spoken with landlords, tenants, and brokers about the prevailing question in the industry: is rent due and payable for those “non-essential” businesses forced to close up shop by the "New York State on Pause" order? And what about for businesses deemed “essential,” but effectively run out of business by the virus’ far-reaching impact? These questions, and others like them, are bound to Read More

Brief Overview of the Paycheck Protection Program

Below is a brief overview of the Paycheck Protection Program to answer some of your most immediate concerns. Who is eligible? A small business with fewer than 500 employees (the 500-employee threshold includes full-time, part-time, and independent contractors); A 501(c)(3) with fewer than 500 employees; An individual who operates as a sole proprietor; An individual who operates as an independent Read More