The Democratic win back in November 2018 means that after a decade of Republican control, tenants’ rights advocates are now in a position to provide the long-awaited reforms that were contingent on a Democratic majority. Real estate lawyers around NYC are gearing up for an influx of contract litigation cases based on the new laws. […]
In October 2018, MAVA LAW represented the Owner-Developer concerning the structure, negotiation and draft of an AIA Guaranteed Maximum Price (GMP) Contract. The project’s hard costs exceeded $67 Million.
In April 2017, MAVA LAW represented a prominent owner-developer secure an $18 Million construction loan to build an 80,000 square-foot mixed-use commercial project in Queens. The majority of the building is pre-leased to premier national tenants. LeClair Ryan represented the Lender, Bank Leumi.
In April 2018, MAVA LAW closed on a refinance consisting of three separate loans, including an acquisition loan, building loan and project loan which enabled its client to pay off an existing acquisition loan and to complete the full gut renovation and façade replacement of a 45,000 square foot mixed use building in the Hub […]
In November 2017, MAVA LAW closed on a $15 Million refinance of a newly constructed luxury mixed-use building on Arthur Avenue, three blocks from Fordham University in the Bronx. By facilitating the transaction, the firm maximized Borrower’s mortgage recording tax savings. The firm worked with Cullen & Dykman, who represented the Lender, Ridgewood Savings Bank.
In May 2016, MAVA LAW facilitated a $15.7 Million refinance of a newly constructed 45,000 mixed-use commercial building in prime Jackson Heights located on Northern Boulevard. The transaction enabled our client to capitalize on its investment and refinance an existing construction loan. The firm worked with LeClair Ryan, who represented the Lender, Bank Leumi. MAVA […]
In May 2017, MAVA LAW represented a group of investors in the acquisition and financing of a 45,000 square-foot mixed-use building in the Hub portion of the Bronx. In addition, the firm facilitated a Purchase CEMA (Consolidation Extension Modification Agreement) and saved the investors in excess of $200,000. The Seller was represented by Duane Morris.
In September 2015, MAVA LAW represented a seasoned investor to complete a 1031 exchange with the purchase of a $4.1 Million retail building in Bayside, Queens. The representation followed the sale of two mixed-use buildings in Flushing, Queens.
In August 2016, MAVA LAW represented the purchaser in the acquisition, financing, and leaseback of a 36,000 square-foot commercial building in Long Island City. In addition, the firm negotiated the joint venture agreement by and between the partners. Paul Hastings represented the seller in the deal.
In June 2016, MAVA LAW facilitated a lease agreement with CityMD on behalf of its landlord-client. CityMD is slated to take 3,000 square feet of retail space on Queens Boulevard in a newly constructed building.
In January 2017, MAVA LAW completed a lease deal with Blink Fitness. After thorough negotiations, Blink agreed to terms and now occupies 16,000 square feet of space in a newly constructed building on Southern Boulevard in the Bronx.
In April 2016, MAVA LAW facilitated a complex negotiation resulting in commercial lease with Chipotle, an American chain fast casual restaurant, located in a newly developed commercial building in Northern Boulevard in Jackson Heights, Queens. Chipotle leased 2,500 square feet of retail space situated on the corner of Northern Boulevard.
in July 2016, MAVA LAW completed a lease agreement with GoHEALTH Urgent Care, a wholly owned subsidiary of North Shore-LIJ. The tenant leased 2,400 square feet of retail space on a prime block of Bell Boulevard in Bayside in a recently gut renovated building.
In February 2018, MAVA LAW drafted, structured and negotiated a commercial lease on behalf of its Landlord-Client, with Maximus, Inc., a publicly traded company that provides business process services, to government health and human services agencies across the United States. The deal involved 15,000 square feet of rentable space in a high end mixed-use commercial […]
In December 2017, MAVA LAW closed on the refinance of a portfolio of shopping centers consisting of 4 retail lots located in Queens & Staten Island, New York. By facilitating financing in the aggregate of $18 Million, MAVA LAW maximized Borrower’s mortgage recording tax savings. Donovan LLP represented the Lender, Signature Bank.
In September 2017, MAVA LAW represented a prominent developer in the acquisition of a development site slated for construction of a 125,000 square foot commercial building in the Mott Haven portion of the Bronx.
In March 2017, MAVA LAW represented a prominent owner-developer secure financing for the construction of a 25,000 square-foot luxury student housing project in the Bronx. LeClair Ryan represented the lender, Bank Leumi.
In November 2014, MAVA LAW represented a group of investors in the acquisition of a development site on Queens Blvd in Sunnyside. The anticipated development contemplates the construction of a mixed-use building featuring high-end retail on the ground level with offices and luxury apartments above. The firm also negotiated the JV agreement by and among […]
In general, an LOI is a document commonly used when negotiating a commercial lease. LOI’s break down the material terms and conditions of a proposed deal. An LOI provides a starting point for lease negotiations and serves as a guide for the landlord’s attorney, who typically drafts a commercial lease. That said, an LOI is […]
A Good Guy Guarantee is a personal guaranty frequently used in New York commercial leases. The guarantee either appears as a clause in the lease or as a separate document by way of an exhibit to the lease a Good Guy clause is typically signed by the tenant’s principal, who personally promises to fulfill all the […]
Concerning holdover rental provisions, from a landlord’s perspective, the language should provide that if the tenant holds over its possession after the expiration or earlier termination of the original term, or any extended term, such holding over shall not be deemed to extend the term or renew the lease. However, any such hold over thereafter […]
In most commercial leases, there is a standard prohibition on assignments, subleases and transfers of stock or other ownership interest in the tenant. Without any modifications to this provision, a tenant would be constrained in its ability to find other space (whether to downsize or grow its business), to sell or transfer control of its […]
Commercial landlords have an inherent fear that tenants will fail to pay their rent. If a tenant does not pay, the landlord knows that the only path to financial recovery or eviction is usually a lengthy court proceeding. That means hiring lawyers and paying legal bills, all while losing potential rental income. To avoid this […]
By definition, an estoppel certificate is a “signed statement by a party certifying for another’s benefit that certain facts are correct, as that a lease exists, that there are no defaults, and that rent is paid to a certain date. A party’s delivery of this statement estops that party from later claiming a different state […]