News

November 20, 2013 News

MoCo Lawyers Flynn and Dockwell on Value-Based Rent Resets

Recently, Morrison Cohen partner Mary E. Flynn and senior counsel Brett Dockwell authored an article in the New York Law Journal, addressing an issue relevant to many long-term ground leases in New York – the requirement to periodically reset rents based on the “fair market value” of the land. These rent reset provisions often give rise to arbitration or litigation, and the stakes can be enormous for landlords and tenants alike. To read the article, and learn more about the rent reset rules New York courts have developed in these types of cases, please click here.