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Understanding 1031 Exchanges: Legal Nuances and Timing Traps (and Why They’re Worth It)

In the world of commercial real estate, a 1031 exchange is a powerful tool. For investors, it can mean the difference between a taxable gain and a strategic reinvestment. But like all great opportunities, it comes with a few legal nuances and timing traps that can turn a win into a missed chance—unless you’re properly

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10 Legal Pitfalls to Avoid in Your Next Commercial Real Estate Deal

Every commercial real estate deal comes with opportunity—but also with risk. Whether you’re acquiring a stabilized asset, developing ground-up, or negotiating a joint venture, one overlooked clause or assumption can lead to costly consequences. At CPL, we work with clients across the full deal cycle, and we’ve seen firsthand the legal missteps that can derail

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Buying with Someone Other than Your Spouse? Here’s What You Need in Writing

Buying real estate is exciting, but it’s also one of the largest financial commitments you may ever make. If you’re purchasing property with someone other than your spouse, whether it’s a partner, friend, family member, or business associate, you’ll want more than a handshake and good intentions. A well-drafted joint ownership agreement can protect everyone’s

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Understanding Coinsurance in Commercial Real Estate

In commercial real estate transactions, institutional lenders always require borrowers to maintain property insurance on its property. This insurance protects the lender’s collateral in the event of casualties to the property. To prevent risk exposure, most institutional lenders do not permit insurance policies that include coinsurance. Understanding what coinsurance means and how it works is

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NYC Real Estate: Why a Mortgage Contingency (and Funding Contingency) Matters

Buying an apartment in New York City can feel like navigating a maze — especially when financing is involved. One of the most critical protections for buyers is the mortgage contingency clause, and equally important, a funding contingency in the event the bank cannot approve the building. What Is a Mortgage Contingency? A mortgage contingency

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Legal Risks in Bridge and Mezzanine Lending—and How to Protect Against Them 

Bridge and mezzanine loans have become essential financing tools for real estate investors and developers looking to close gaps, unlock equity, or move quickly on time-sensitive deals. Their flexibility is a major advantage, but that speed and creativity often come with increased legal complexity and risk. Unlike traditional bank loans, these structures can involve multiple

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Why Landlord Work Needs More Detail Than “Landlord to Deliver Space”

The “Landlord Work” section of a commercial lease agreement generally refers to the construction, repairs, or improvements that the landlord is responsible for completing to deliver the space in a leasable condition. Under this section, many landlords have used vague language, such as “Landlord to Deliver Space,” which fails to specify the type of work

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What Tenants Should Know Before Taking a Space “As-Is”

“As-is” is one of the most common phrases in commercial leasing. It sounds straightforward: the tenant takes the space in its current condition, the landlord makes no improvements, and both parties move forward. What it actually means, in practice, is that the tenant accepts full responsibility for whatever is in that space, seen or unseen,

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Why Delivery Condition Can Make or Break a Tenant’s Opening Timeline

One of the most consequential and underestimated provisions in a commercial lease has nothing to do with rent. It is the delivery condition clause, and when it is vague or one-sided, it can push a tenant’s opening date back by months and add significant unplanned costs beforethe business ever opens its doors. Delivery condition refers

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