During the Covid outbreak in 2020, New York and several other states issued restrictions on in-person business operations in an attempt to reduce the spread of the virus. These measures significantly impacted commercial real estate as tenants struggled to pay rent to their landlords. While these restrictions first went into place nearly two-and-a-half years ago, courts are still dealing with the repercussions. In a series of appellate decisions this past summer, New York courts consistently sided with landlords and rejected…
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The New Retainage Law: What Contractors Need to Know
Late last year, New York passed a law that Legislators say will “reduce delays occurring in the release of retainage on private construction jobs.” The two features of the new…