Legal Question in Real Estate Law in New York

I am a landlord for a commercial property. The tenant is wishing to borrow monies and the lender is securing the loan by a first leasehold mortgage upon tenants interest as tenants in the lease, and has suggested a number of changes in the lease. Is it normal to expect some financial benefit to revising the lease and is the an idustry standard to what we should expect. Thank you.

Ron coleman


Asked on 4/14/12, 12:39 pm

3 Answers from Attorneys
Tanya Gendelman Law Offices of Tanya Gendelman, P.C.

You should not be making changes to the lease without first showing the documents to an attorney. Feel free to contact our office at 718-616-1414.

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Answered on 4/14/12, 12:51 pm
David Slater David P. Slater, Esq.

Unless you see some benefit to you, you may end up with a head ache I.e. a tenant you don't want.

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Answered on 4/14/12, 1:37 pm
Steven Czik CZIK LAW PLLC

it would be highly recommended to have an experienced lawyer review the deal proposed and properly advise you and draft the necessary documents so that you are adequately protected. The attorneys fees should also be paid by the tenant as you are doing this to accommodate him. We have substantial experience handling these types of cases and reasonable fees, however, we would need some more information before making a complete and proper determination. You are welcome to contact us for a free consultation.

CZIK LAW PLLC

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New York, New York 10013

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The information provided by Czik Law PLLC (CLP) is for general educational purposes only. There is no attorney-client relationship established by this communication and no privilege attaches to such communication. CLP is not taking and will not take any action on your behalf and will not be considered your attorney until both you and CLP have signed a written retainer agreement. There are strict deadlines, called statutes of limitation, within which claims or lawsuits must be filed. Therefore, if you desire the services of an attorney and decide not to retain CLP on terms acceptable to CLP, you are advised to immediately seek the services of another attorney.

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Answered on 4/16/12, 3:39 pm


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