Also published on the SGR blog.
Tenant of a rent stabilized Manhattan apartment listed the unit on the Airbnb website at nightly rental rates starting at $200. Entered into more than one dozen separate rentals totaling 79 nights in 10 months, with up to 5 guests per rental. And collected as much as $366.00 per night, more than four times tenant’s daily rent of $90.00. Landlord started an eviction proceeding.
In a Yellowstone proceeding, a commercial tenant applies to Supreme Court for an Order tolling the time to cure an alleged default asserted by its landlord and staying the termination of the lease and the prosecution of a summary (holdover) proceeding. In order to obtain relief, the tenant must show that it is “ready, willing and able” to cure the default (if one is found to exist); however, the legal predicate is that the alleged default is, in fact, curable.
The following cases summarize recent Yellowstone proceedings in our Courts. Especially noteworthy are the decisions finding that the failure to obtain and maintain insurance coverage required by the lease may not be curable; and, if not, Yellowstone relief will not be granted. Continue reading
Copyright by, and republished with permission of, Habitat Magazine.
This year, as in years past, the cycle of annual meetings at New York co-ops produced its share of hotly contested elections to boards of directors. And, as in years past, some of those disputed elections led to litigation. A new court ruling has underscored a fact of life that sometimes gets lost in the heat of the battles to gain control of co-op boards: cooperative housing corporations are, at bottom, democracies. The majority usually rules.