On Labor Day, New York Governor Kathy Hochul signed Senate bill S6350A, which prohibits most individual unit owners or shareholders in condominiums (condos) or cooperatives (co-ops) from obtaining or maintaining tax abatements under section…
One of the main considerations in selecting an apartment for purchase is whether the unit is in move-in condition or requires renovation. This is not a new question, though perhaps surprisingly, attitudes have shifted in recent years - espe…
Beautiful new residential buildings are erected every year. As developers make the finishing touches, the walls are closed to conceal elements like piping, wiring, fire suppression systems, and insulation. Unfortunately, awareness of these …
Among the many efforts underway to stem the oncoming tide of climate-related catastrophe is the increasing use of electric vehicles (EVs). While gas-powered cars are still the overwhelming majority of vehicles on the roads, EV technology is…
Even before the pandemic, amenities and service previously associated with the hospitality industry had infiltrated the residential property sector. Now, as much of the world has grown accustomed to working remotely, commercial and office e…
Westchester County lawmakers recently passed additional rules for its Co-op Disclosure Law, which itself dates back to 2018. The law originally gave co-op corporations and their representatives 60 days to determine whether a purchase applic…
NBC News recently reported on a 2019 class-action lawsuit filed by shareholder-tenants of several New York City co-ops that the city took over under the aegis of a controversial program called Third Party Transfer (TPT). The program wa…
For decades, the due diligence required for real estate transactions has fallen more to the seller than the buyer. Would the buyer qualify for the purchase? Would they pass the board interview? Co-op owners wishing to sell their units often…
Law firm Seyfarth Shaw issued a release this month reminding New York cooperatives and condominiums that they are subject to the New York Health and Essential Rights (HERO) Act that was signed into law on May 5, 2021. The new Department of …
Two new laws recently went into effect in New York City that regulate the collection, storage, and disclosure of information that can identify an individual “biometrically”—that is, by way of their fingerprints, retinal or iris scan, facial…