CASE STUDIES

Back

In New York, a Property Owner is Only as Good As the Lease Agreement Prepared by Its Attorney

By Adam Leitman Bailey


Adam Leitman Bailey, P.C. was hired to negotiate a lease for commercial retail space involving a deli chain restaurant that would prevent a defaulting tenant from being able to delay eviction. The lease drafted and negotiated by Adam Leitman Bailey, P.C. contained a liquidated damages provision as well as a chronic nonpayment provision that would discourages the tenant from defaulting under the lease. The lease also strictly limited its ability to obtain injunction relief and reduced the cure periods upon a default.

The tenant defaulted in the payment of rent, among other things, at the inception of the lease term. In order to give the tenant a second chance despite the lack of a cure period in the lease, in a series of two negotiated settlement agreements, Adam Leitman Bailey, Esq., compelled the tenant to give up its rent concession amounting to over $330,000 and pay over $27,000 in attorneys’ fees. Shortly thereafter, the commercial tenant failed to make the next rent payment and had completed alterations without the landlord’s permission. Within three weeks, the landlord regained possession of the space by evicting the tenant demonstrating the strength of the commercial lease drafted by the landlord’s attorneys.

Adam Leitman Bailey represented the property owner in this matter.

Related Attorneys

Adam Leitman Bailey

Related Content

“We are finally at the point in time when I can say thank you so much for your phenomenal work. Your faith in this case was wise and the outcome matches.” “Hard work and risk pays off for closing” “ROCKSTAR. That’s what you are…Jackie…How can I thank you enough for all the work you have done…” Adam Leitman Bailey, P.C. Prevails at Traverse Hearing, Defeats Borrower’s Motion to Vacate and Dismiss, and Wins Judgment for Lender ALBPC Twice Saves Tenant’s Business from Certain Death ALBPC Releases Daughter, Mere Accommodation Signer on Lease, from Lease and Allows Her to Avoid Nonpayment Proceeding Adam Leitman Bailey, P.C. Gets $215K for Board after a Botched Common Charge Lien Foreclosure Adam Leitman Bailey, P.C.’s “Watershed Case” Changes Condominium Development Original Promissory Note Lost—Lender Satisfied UCC 3-804 and Entitled to Judgment Q&A: A Broken Shower Non-Disclosure Agreements Defend Against Fishing Expeditions Adam Leitman Bailey, P.C. Prevails at Traverse Hearing, Defeats Borrower’s Motion to Vacate and Dismiss, and Wins Judgment for Lender (Part I) Christopher Halligan Speaks to the New York State Bar Association on Jury Trials in Landlord – Tenant Proceedings Adam Leitman Bailey Lectures for New York State Bar Association on Easements, Adverse Possession and Arcane Laws to Overcoming Building Obstacles Adam Leitman Bailey Guest Lecturer at New York Law School’s Landlord-Tenant Class NYSBA – Removing Real Estate Development Obstacles: Zoning, Restrictive Covenants, Easements, Adverse Possession and Boundary Disputes

Adam Leitman Bailey, P.C.

NEW YORK REAL ESTATE ATTORNEYS