CASE STUDIES

Back

M&T Bank Recovers Possession Of Its Space At 345 Park Avenue From Defaulting Subtenant In Just Three Months And All Attorneys’ Fees Paid

By Adam Leitman Bailey


Manufacturers and Traders Trust Company (“M&T Bank”) retained Adam Leitman Bailey, P.C., to recover a portion of their space at 345 Park Avenue from a tenant who paid the rent late since nearly the inception of the lease.  Analyzing the lease, we found a provision in the lease that provided for an eviction even if the tenant finally paid late called a chronic non-payment proceeding.  The tenant claimed that the provision was faulty and did not provide for an eviction for paying the rent late.

The Bank needed emergency action as they need to move into the space by the end of the quarter or pay huge penalties for the current space.  The banks previous attorneys failed to notice a chronic non-payment provision in its lease and kept starting non-payments to collect the rent and albeit months later, the tenant would pay the rent immediately before eviction.

The Bank’s litigation objective was two-fold; to be rid of a defaulting subtenant and to expand their offices for executive staff members.  Just two months after being retained, the firm’s Landlord Tenant Group secured a warrant of eviction in favor of M&T Bank.  That warrant gave Adam Leitman Bailey, P.C., the leverage it needed to secure payment of all outstanding rent, costs, and expenses, including total reimbursement of attorneys’ fees expended by M&T Bank to prosecute the case.

Adam Leitman Bailey, P.C.

NEW YORK REAL ESTATE ATTORNEYS