Legal Question in Landlord & Tenant Law in New York

Re: Am i completely responsible?

it depends what form your business is in, corp. sole prop. etc. the landlord has no obligation to mitigate damages so you might be liable. you can call me at 516 466 5297 for free telephone consultation

Re: Am i completely responsible?

If you just close your doors without informing the landlord, you could be held responsible for his damages minus mitigation costs. While he is unlikely to show 2.5 years worth of damage, theoretically he could do so, plus costs for advertising for a new tenant, legal costs, unreasonable wear and tear, etc.

I wouldn't advise just closing shop. If the business is a losing proposition, call your landlord and explain your situation, see if they would be willing to come to an accomodation. A bulk figure for a termination of the lease.

The landlord is likely to be accomodating, as it would make little business sense to them to continue with a tenant who can't afford the rent, who they would continuously would need to take back to the court.

While a buy out may be costly to you in the short term, in the long run it would be less expensive.

Should you like to discuss this or any other legal matter, you can call my office to schedule an appointment for a consultation or in the alternative, I can be reached for on-phone low-cost legal consultation at 1-800-275-5336 x0233699.

Re: Am i completely responsible?

Did you sign personally for the lease or as a sole proprietor? If so, you are personally responsible. If not, landlord can only sue the business for the breach. If the business has no assets, no problem. Either way, perhaps bankruptcy should be considered. Sounds like you may need a fresh start.