Category: Law & Legislation

Back in September, Governor Cuomo signed into law a bill passed by the New York State legislature meant to make public knowledge the actual owners of one-to-four family homes purchased under the guise of LLC’s, limited liability corporation…

Bloomberg Quint reports that another blow may be heading toward the  high-end real estate market,  in the form of a revived effort by state lawmakers to impose a tax on second-home purchases of $5 million or more. This tax follow…

According to  Real Estate Weekly , an Upper East Side co-op recently scored legal victory over a litigious shareholder. The co-op, at 12-14 East 64th Street, was granted nearly $400,000 in legal fees in a case that stemmed from flood dama…

This past June, the New York State Legislature and Governor enacted into law a sweeping overhaul of landlord-tenant relations throughout the State; just a few days later, these same powers enacted amendments to those amendments. While relat…

According to The Wall Street Journal, Governor Andrew Cuomo signed a bill last month requiring limited liability companies (LLCs) entering into residential real estate transactions to disclose the identities of their individual members.…

The benchmark for calculating capital gains on your unit is determining your cost basis in the unit. The cost basis for co-op and condominium units is calculated on the original purchase price of the shares or unit, plus capital improvement…

As much as a prudent, conscientious board may try to keep a lid on expenditures, sometimes shelling out is unavoidable. When it comes to legal costs though, 'shelling out' can often result in a bad case of sticker shock. In this clip, legal…

Community associations are microcosms of democracy, run by an elected board of volunteers trusted to make good decisions on behalf of the community as a whole. Boards make the call on every large and small issue for their constituency. So i…

Removing a disruptive, abusive, non-paying, or otherwise problematic tenant from a rental building is relatively easy. Doing the same thing in a co-op is also possible, though substantially harder. But removing a condo owner from the premis…

The viability of the 421-a tax abatement was up in the air last month as the New York State Senate passed sweeping reforms via a rent regulation bill which has caused quite a stir in the real estate community. After pushback from developer…