NY Gov. Andrew Cuomo signed legislation modifying current hire laws and enacting sizeable landlord-tenant reforms. To day, the real estate market has targeted mostly on the sweeping impact the new laws will have on household tenancies and the deregulation of hire-stabilized residences. The reforms, on the other hand, also substantially impact commercial tenancies by altering non-household summary proceedings and drastically hampering the capability of commercial landlords to reply efficiently and immediately to tenant defaults.
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