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Allegations That COVID-19 Was Physically Present and Altered Property are Sufficient to Sustain COVID-19 Business Interruption Suit Thursday, May 6, 2021 On Wednesday, a federal judge in Texas denied Factory Mutual’s Rule 12(c) motion for judgment on the pleadings, finding that the plaintiffs adequately alleged that the presence of COVID-19 on their property caused covered physical loss or damage in the case of  Cinemark Holdings, Inc. v. Factory Mutual Insurance Co., No. 4:21-CV-00011 (E.D. Tex. May 5, 2021). This is the third COVID-19-related business interruption decision fro...

They Want You Back at the Office How to coax corporate America to return to work? First, get rid of the dead plants. Commercial real estate brokers are trying to coax corporate America back to the office.Credit...John Muggenborg for The New York Times April 30, 2021Updated 6:20 p.m. ET When Alice Fair flaunted north-facing views from the 48th floor of a skyscraper in Lower Manhattan, her audience was quiet. Most were on mute. Ms. Fair, a commercial real estate broker, was seeking subletters at 3 World Trade Center on behalf of Uber, offering up more than 80,000 square feet of office space —...

Share this article Share this article NEW YORK, April 29, 2021 /PRNewswire/ --  Thor Equities Group announced today the opening of ModernHaus SoHo, a new luxury hotel in New York's stylish SoHo neighborhood. The 114-room property features an extensive modern and contemporary art collection with pieces from some of the world's foremost names, 11,000 square feet of outdoor space, and a signature restaurant from Michelin-starred chef George Mendes – with a fully retractable glass roof that allows for al fresco dining in the warmer months and indoor dining on colder days. Located on Grand Stre...

To embed, copy and paste the code into your website or blog: The Southern District of New York recently held that a contamination exclusion was ambiguous in the context of Covid-19-related business interruption losses. Accordingly, the court held that the issue was inappropriate to decide at the summary judgment stage and denied both parties’ cross-motions for summary judgment.    In Thor Equities LLC v. Factory Mut. Ins. Co., No. 1:20-cv-03380 (S.D.N.Y. Mar. 31, 2021), an insured commercial property owner sought business interruption coverage under its property insurance policy. The par...

Javascript is disabled in your web browser. For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page. Chetrit to open flex-office location near Penn Station Flexibility is seen as key to attracting tenants New York / TRD Staff 315 West 35th Street with Isaac Chetrit and DJ Dashti (Google Maps, Linkedin, iStock) Eli and Isaac Chetrit are joining a growing number of landlords trying to attract tenants by offering more flexibility. Workville, a flex-office company founded by Isaac Chetrit, Jacob Aini and D.J. Dash...