New York Law Journal Publishes Real Estate Article on the Future of Specific Performance Co-Authored by Yankwitt LLP and Zarin & Steinmetz

Is the legal remedy of “specific performance,” which dates back to English Common Law, a relevant approach to resolving real property disputes today, or should it be retired in favor of monetary damages?

That timely question is addressed in the New York Law Journal article “Specific Performance’s ‘Land Is Unique’ Mantra: A Cornerstone of Real Property Law or Outdated Precedent?” co-authored by attorneys from Yankwitt LLP and Zarin & Steinmetz, firms that recently went head-to-head in a case seeking specific performance of a residential contract, which ultimately resolved via a settlement between the parties.

Central to the debate is whether real property today remains unique or whether modern-day advancements in real estate development and appraisal make that premise obsolete. Yankwitt LLP argues that New York should retire the specific performance approach to real estate disputes in favor of examining each case on its merits to determine the appropriate remedy, with Zarin Steinmetz taking the opposing position.