Buyers of New York commercial real estate and their advisors should take caution before bringing an action for rescission prior to the closing date under a real estate purchase and sale agreement as it might have the unintended effect of constituting an anticipatory breach by the buyer. The New York Appellate Division, First Department, came to that conclusion earlier this year in Princes Point LLC v. Muss Development LLC. The case, however, is pending review by the Court of Appeals after the non-prevailing buyer’s motion to New York’s highest court to appeal the decision was recently granted. The article examines the potential implications of the Princes Point decision.

View the article on the impact of the Princes Point v. Muss Development decision.