Summer Associate, Dalila E. A. Haden, contributed to this blog.        

In early June, the first Commercial Property Assessed Clean Energy (“C-PACE”) transaction closed in New York City, courtesy of C-PACE financing provided by Petros PACE.  In connection with a larger $500 million dollar acquisition and construction financing deal involving a 1.2 million square-foot office building

*Update: On August 31, 2020, NYC Mayor Bill de Blasio signed Executive Order No. 60, which designated the NYC Department of Finance as the administering agency for the C-PACE financing program.  This exciting new development is a sign that the C-PACE program will likely be formally launched in NYC in the near future.

Property Assessed

As the COVID-19 (Coronavirus) pandemic continues to have devastating effects on our nation’s economy, particularly for small businesses and restaurants struggling to make ends meet and stay afloat, relief has become available for certain personal guarantors of NYC commercial leases.  On May 26, 2020, Mayor Bill de Blasio signed into law Section 22-1005 of the

In the midst of the global COVID-19 (Coronavirus) pandemic, some New York building owners are breathing a collective sigh of relief after securing a hard-fought victory in the New York Court of Appeals.  On April 2, 2020, the Court of Appeals, in a divisive 4-3 decision, struck down Part F of the Housing Stability and

To combat against the harmful effects of climate change, the New York City Council recently passed the Climate Mobilization Act (CMA)[1] – landmark legislation aimed at reducing New York City greenhouse gas emissions levels by 40% by 2030 and 80% by 2050, which will have major implications for New York City building owners, prospective