News

The pandemic largely froze the commercial real estate market. However, a new analytic report shows that real estate deals showed signs of improvement in the third quarter. Although New York’s commercial market is still stalled, apartment buildings are performing relatively well elsewhere in the United States: John Gittelsohn, U.S. Commercial Real Estate Showing First Signs of a Thaw https://www.bloomberg.com/news/articles/2020-10-21/u-s-commercial-real-estate-market-showing-first-signs-of-...

Governor Cuomo announced extension of moratorium for commercial eviction and foreclosure for non-payment of rent through January 1, 2021. However, the moratorium applies only to commercial eviction for foreclosure cases post-March 17, 2020. Since August 13, 2020, New York courts have already begun proceeding with commercial eviction cases initiated before March 17, 2020 with a few exceptions. There is some movement on residential eviction cases and warrants. However, a bill allowing one year for...