Creative Reuse: The Opportunities and Challenges of Converting Office Space to Residential
For most Towns and Cities throughout the State of New York, May 1st ushers in new assessment rolls and equalized market values for commercial and residential properties. As detailed in an earlier tax tracker (see: Assessment...more
Effective January 1, 2025, New York City’s Fair Chance for Housing Act became law. The Fair Chance for Housing Act is designed to eliminate barriers for individuals with criminal conviction histories seeking housing. The...more
In a recent case, E. Fork Funding LLC v. U.S. Bank, Nat’l Ass’n, the United States Court of Appeals for the Second Circuit has certified a novel question for the New York Court of Appeals ("NYCOA"): Whether Sections 4 and/or...more
Starting December 22, 2024, New York’s Real Property Law (RPL) will be amended to include requirements for residential landlords/lessors to inform their tenants of a bed bug infestation....more
Effective immediately, Section 231-B of New York Real Property Law (Section 231-B) has been amended to require that every existing and prospective residential lease provide a notice to the tenant related to the leased...more
Key Points - - New York lawmakers have reintroduced legislation that, if adopted into law, would make mezzanine and preferred equity financing subject to the mortgage recording tax. - The legislation would also...more
Key Points - - New York State lawmakers, who are looking to make up the gap in the state's annual budget, are considering proposals for nearly $7 billion in tax hikes in a package that includes taxes on mezzanine and...more
Alert October 23, 2020 Due to the economic impacts of COVID-19, many states have issued moratoriums on foreclosures and evictions. Some of those moratoriums have expired. However, even if a lender is now able to obtain a...more
On July 24, 2020, the New York State Courts issued Administrative Order 157/20 (AO/157/20). Effective July 27, 2020, AO/157/20 removes the formal suspension of all residential foreclosures, but keeps a limited suspension of...more