New York Gov. Kathy Hochul recently signed into law the Affordable Housing Retention Act (AHRA), which for the next four years enables condo conversions of specific buildings in New York City with a presale requirement for...more
5/21/2025
/ Affordable Housing ,
Apartments ,
Condominiums ,
Conversion Requirements ,
Housing Market ,
Landlords ,
New Legislation ,
Nonprofits ,
Real Estate Transactions ,
Rent ,
Rent Control ,
Residential Property Owners ,
Residential Real Estate Market ,
Tenants
The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) on Feb. 7, 2024, issued a Notice of Proposed Rulemaking (NPRM) proposing a new nationwide reporting obligation to be imposed on settlement...more
2/27/2024
/ AML/CFT ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Beneficial Owner ,
Cash Transactions ,
Corporate Transparency Act ,
FinCEN ,
Geographic Targeting Order ,
GTO ,
NPRM ,
Proposed Regulation ,
Real Estate Transfers ,
Reporting Requirements ,
Residential Real Estate Market ,
Suspicious Activity Reports (SARs) ,
Terrorist Financing Regulations ,
Title Insurance ,
Trusts ,
U.S. Treasury
Former New York City Mayor Bill de Blasio's Advisory Commission on Property Tax Reform (the Commission) issued a report on Dec. 28, 2021, titled "The Road to Reform: A Blueprint for Modernizing and Simplifying New York City's...more
1/18/2022
/ Advisory Committee ,
Fair Market Value ,
Homestead Exemption ,
Homesteads ,
Mayor de Blasio ,
Municipalities ,
Property Owners ,
Property Tax ,
Property Valuation ,
Residential Property Owners ,
Residential Real Estate Market ,
Tax Assessment ,
Tax Reform
Twenty-four members of the New York State Senate on Jan. 27, 2021, introduced S-3082, and 43 members of the New York State Assembly on Feb. 19, 2021, introduced A-5573 (collectively, the bills), which would preclude the...more
3/4/2021
/ Condominiums ,
Eviction ,
Good Cause ,
Hotels ,
Landlords ,
Proposed Legislation ,
Rental Property ,
Residential Leases ,
Residential Real Estate Market ,
Sub-Tenants ,
Tenants