We have de-leased several buildings of either (or both) residential and commercial tenants so that development of new structures can go forward. Most recently, we vacated all 21 commercial tenants in Manhattan commercial building so renovation could commence, and we did it within six months and with minimal litigation expenses! We have a great deal of experience in this area. One of our partners was lead counsel for the Metropolitan Transportation Authority (MTA) in evicting tenants from Grand Central Station in the mid-1990s so that its historic renovation could begin. Other “de-leasing” projects include clearing buildings at 750 Lexington Avenue for Cohen Brothers Realty Corporation, at the New York City headquarters of the Directors Guild of America, Inc., at the New York Coliseum for the Triborough Bridge and Tunnel Authority, and at a building on 11th Avenue in Manhattan containing approximately 150 sub-tenants for Charles Benenson & Preston R. Tisch.
