Section 231-b of the New York State Real Property Law was recently amended to require that every residential lease for a property in the State of New York – which includes proprietary leases, cooperative subleases and condominium unit leases and subleases – must provide notice to the prospective tenant/subtenant of the current flood risk and …
A recent amendment to the New York State Real Property Law (“RPL”) means that starting March 20, 2024, Sellers of residential real property in the state of New York will no longer be able to give their Buyer a $500 credit at closing in lieu of a completed Property Condition Disclosure Statement (“PCDS”). Before the …
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Are you selling a co-op that you own as an investment property? Hopefully you are selling it for much more than you paid – but if that is the case you may be facing a sizable capital gains tax liability. One way to defer payment of that capital gains tax is to do a 1031 …
Images of long lines of pot buyers snaking outside recreational marijuana shops in Colorado have dominated the news since January 2nd. The sale and consumption of marijuana will be next be legalized in the state of Washington, and there is activism and discussion in several states – Alaska, Arizona, California, Nevada, Oregon, Maine, Massachusetts, Montana, Rhode Island, Vermont …
How Will Marijuana Legalization Affect Landlords? Read More »
Any real estate attorney practicing in New York will tell you anecdotally that it has become more difficult and takes more time to close deals now that we are post-bust, middle of latest boom/bubble or however you want to characterize the recently past and present market. “There are no easy deals anymore” is the attorneys …
The other day a friend and colleague of mine sent me a link to an article about James Gandolfini and his last Will/estate plan – here’s the link: http://www.cnbc.com/id/100910985. The idea behind the story is that – maybe – some “mistakes” were made in creating the actor’s Will and estate plan. But here are what …
I recently attended the annual symposium on the future of residential real estate presented by the Center for Real Estate Studies (CRES) at New York Law School (where I am proud to say I have been an Adjunct Professor since 2002). There were two main points that I took away from the symposium that I want to share …
I have been representing buyers and sellers of homes in New York and New Jersey for more than 20 years and have been involved in hundreds of transactions. But I always tell myself that no transaction is \”routine\” and that every buyer and seller are different. Our office prides itself on the level of communication we create and …
Congratulations! You\’ve decided to finally pull the trigger and launch your own business. One of the first – and most important – decisions you need to make is: What type of business structure to establish. The most common types of business structures are sole proprietorship, partnership, corporation, S corporation and limited liability company (LLC). Each …
Choosing the Right Business Structure for Your Small Business Read More »
