On March 31, 2023, the United States District Court for the Southern District of New York declared New York City’s Guaranty Bill unconstitutional, finding it violates the United States Constitution’s Contracts Clause. New York City landlords may now be able
Real Estate Legal Update
Insight and commentary on investment property, corporate real estate issues and property development
Real Estate Legal Update, published by Reed Smith LLP, focuses on legal developments affecting real estate markets and transactions. The blog covers topics such as landlord and tenant disputes, commercial leasing issues, property finance, regulatory changes impacting real estate, and the effects of legislation on property ownership and development. It also addresses sector-specific challenges like hospitality industry trends, retail property closures, and infrastructure laws related to telecommunications and parking reforms. The content includes analysis of court rulings, legislative updates, and practical guidance for navigating legal and regulatory complexities in real estate across multiple jurisdictions.
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Latest from Real Estate Legal Update
Tomorrow’s Hospitality A-Z – Navigating the future
By Jimmy
The emergence of the COVID-19 pandemic in 2020 transformed the global hospitality industry as governments imposed lockdowns in an attempt to stop the virus’s spread, which halted global travel and inhibited the vast majority of in-person events. This was an…
Closures on the High Street: time for rates reform?
Retail took a big hit in 2022 with 17,145 shops closing, a 50% increase on 2021. Large and small names alike were effected: Joules, M&Co and T M Lewin were hit hard, totalling 6,055 shop closures and 151,500 jobs lost.…
Product Security and Telecommunications Infrastructure Act 2022
By Brad Trerise
The Product Security and Telecommunications Infrastructure Act 2022 received Royal Assent on 6th December 2022. This means greater balance towards landowners and telecoms operators along with supporting 5G and fibre network rollouts. However, there still needs to be more regulations…
California: Parking reform goes into effect January 1
By Phillip H. Babich and Sara M. Eddy
Less parking and more housing, or just less parking?
Figuring out parking configurations for development projects in California will get a little easier for developers starting January 1, 2023. The state legislature…
Coronavirus Rental Arrears – A brief digest
By Brad Trerise
Brad Trerise has written a client alert on the recent appeal case made by several large cinema chains over the the payment of outstanding rent for periods of the Coronavirus pandemic, during which they were forced to close.
Key Take-aways:
- Cine
…
The Economic Crime Act and Registration of Overseas Entities: the latest developments
Continuing on from our previous commentary on the Economic Crime (Transparency and Enforcement) Act (the ‘Act’), the new Register of Overseas Entities introduced by the Act (the ‘Register’) is now expected to be brought into effect on 1 August…
Commercial Rent (Coronavirus) Act 2022 – first arbitration award gives little comfort to retailers
We have recently seen what may be the first award made under the arbitration scheme established under the Commercial Rent (Coronavirus) Act 2022. Ernest Jones and H Samuel, jewellery retailers, has been ordered to pay £450,000 in unpaid office rent,…
Will the Levelling-Up Bill really help the high street?
Tucked away in Part 8 of the Levelling-Up and Regeneration Bill is a provision that may alarm commercial landlords. This provides for local authorities to intervene in the normal commercial landlord and tenant relationship and agree lettings of vacant high-street…
California appeals court affirms: State density bonus law trumps local zoning rules
On February 2, 2022, the California Court of Appeal, Fourth Appellate District, changed the status of a decision in January from unpublished to published. The decision is significant for its clear and unequivocal ruling that the California Density Bonus Law…