As the economy slowly improves, the real estate market is heating up in Massachusetts. CNN reports that bidding wars are back, with an unbelievable 250 bidders on one Cambridge property. Advisor Vincent Costantini says that real estate markets are building strength across the country, and the Boston area is especially popular. Both rents and sale prices are rising.
If you are thinking of buying or selling your home or commercial property and would like to consult a lawyer, or if you are facing a property dispute, Glickman Turley offers real estate legal services throughout the Boston area. Click here for more details.
Showing posts with label commercial real estate. Show all posts
Showing posts with label commercial real estate. Show all posts
Tuesday, April 16, 2013
Tuesday, March 27, 2012
SJC Rules in 275 Washington Street Corp. v. Hudson River International, LLC
The Massachusetts Supreme Judicial Court (SCJ) held that when a commercial tenant breaks a commercial lease, the landlord will not be able to collect damages until the end of the original lease term, even if the lease contains an indemnity clause. Damages may be wholly ascertained and fully assessed against a tenant at the end of the lease term because of "the possible intervention of factors, presently unknown, that make the determination of damages uncertain at the present."
The defendant in 275 Washington Street Corp. v. Hudson River International, LLC, conceded that it will owe damages for abandoning the premises and ceasing to pay rent, but the issue on appeal was whether damages may be determined at present time. The landlord argued that since the premises were re-leased, the damages are easily ascertainable by calculating the difference in rent between the original and substituted leases. The SJC was sympathetic to the landlord, but concluded that "the tenant's view is consistent with the present state of Massachusetts law and is one with which we are constrained to agree."
Glickman Turley's experienced attorneys represent individuals on a wide range of immigration matters, as well as other legal issues. Please contact our attorneys if you wish to discuss representation on immigration matters, real estate purchase and sales, condominium associations, criminal defense, non-profit law, civil litigation, business litigation, business law, trademark law, probate matters including wills, powers of attorney, health care proxy, same-sex parent adoptions, guardianships, animal law, or LGBT legal matters.
The defendant in 275 Washington Street Corp. v. Hudson River International, LLC, conceded that it will owe damages for abandoning the premises and ceasing to pay rent, but the issue on appeal was whether damages may be determined at present time. The landlord argued that since the premises were re-leased, the damages are easily ascertainable by calculating the difference in rent between the original and substituted leases. The SJC was sympathetic to the landlord, but concluded that "the tenant's view is consistent with the present state of Massachusetts law and is one with which we are constrained to agree."
Glickman Turley's experienced attorneys represent individuals on a wide range of immigration matters, as well as other legal issues. Please contact our attorneys if you wish to discuss representation on immigration matters, real estate purchase and sales, condominium associations, criminal defense, non-profit law, civil litigation, business litigation, business law, trademark law, probate matters including wills, powers of attorney, health care proxy, same-sex parent adoptions, guardianships, animal law, or LGBT legal matters.
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