Philadelphia Skyline

Commercial Tenant Triumphs because Termination Clause not Properly Exercised by Former Owner

November 20, 2015  

Itkowitz PLLC saved the long-term lease of an industrial tenant in Queens.  The landlord brought a holdover, claiming the tenancy was ended by the exercise of a two-year termination clause in the lease.  We identified several problems with the landlord’s case.  The building had been transferred, and the termination notice was allegedly given by the prior owner.  The tenant never received the notice!  We challenged the new owner to prove that the old owner truly served the acceleration notice.  The new owner could not do this without the cooperation of the old owner, which it apparently was not getting.  Furthermore, even if the tenancy was terminated, a year and a half of rent was accepted after the date of the acceleration notice, reestablishing the tenancy.

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