As we all know, the Housing Stability and Tenant Protection Act (HSTPA) of 2019 placed a limit on how much security deposit a landlord in NY can collect from a tenant (the equivalent of...
Read Full PostThe New York Times: ‘High-Rise Hell’ N.Y.C. Skyscraper’s Elevator Breakdowns Strand Tenants
A luxury residential building in the financial district with more than 750 apartments has been experiencing lengthy elevator outages since the fall. By Karen Zraick and Ashley Wong at The New York Times When it was completed in...
Read Full PostAdams’ Economic Blueprint Targets Central Business Districts
BY: Brian Pascus at Crain’s New York Business Mayor Eric Adams has big plans to revitalize New York’s central business districts as the city emerges from Covid-19. The mayor’s blueprint includes expanded promotional campaigns,...
Read Full PostOp-ed: How commercial property owners can prepare for an influx of electric cars
By: Daniel Colombini and Vinod Palal at Crain’s New York Business Daniel Colombini and Vinod Palal are principals at New York City-based consulting engineering firm Goldman Copeland. The use of electric vehicles in the United States is...
Read Full PostHarry Macklowe Reimagines a Downtown Manhattan Office Tower
Harry Macklowe Reimagines a Downtown Manhattan Office Tower Macklowe Properties’ conversion of the landmarked One Wall Street into 566 condos represents the largest such conversion in NYC history BY TOM ACITELLI at Commercial Observer ...
Read Full PostThe New Queens And Kings Of New York City Real Estate
2020 was, of course, a historic downturn for New York City, but as that year came to an end, activity and transaction volume began to increase once again. This uptick in activity has continued through...
Read Full PostCouncil Calls for Crackdown on ‘dark stores’
Vacant retail spaces across the city are being turned into makeshift warehouses by app-based grocery delivery companies — in potential violation of zoning rules, according to City Council members looking to crack down on the...
Read Full Post1031 EXCHANGE BASICS
WHAT IS IRC SECTION 1031? Section 1031 of the Internal Revenue Code (IRC) allows a taxpayer who owns investment or commercial property to exchange a relinquished property and defer paying capital gains taxes. If...
Read Full PostUPDATES ON ESTATE AND GIFT TAX LEGISLATION
By Christian D. Curtis Back in June 2021, after fielding many calls from concerned clients, I hosted a Webinar regarding President Biden’s bold tax change proposals. These proposals would have made some profound changes...
Read Full PostIn Wake of the Champlain South Tower Collapse in Surfside, Florida
In October 2021, the Federal National Mortgage Association was the first to announce updates to its guidelines and criteria changes for Condo and Co-op Projects. These changes came in the wake of the tragic...
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