Recent amendments to New York’s Property Condition Disclosure Act (the “Act”) went into effect March 20, 2024, as we indicated in our last client alert, available HERE. The Act requires a seller of residential real property to provide a “Property Condition Disclosure Statement” to their buyer or buyer’s agents prior to signing a contract of sale. […]

Residential transactions tend to increase as spring approaches. This year expects to be no different. Whether you plan on buying, selling, or leasing residential real estate in the coming season, this client alert will provide a summary of the recent changes to residential real estate laws that may affect your transaction. Flood Risk Disclosures In […]

Local Law 97, also known as the Climate Mobilization Act, is a groundbreaking piece of legislation aimed at reducing carbon emissions from large buildings in New York City. With ambitious emission reduction targets, Local Law 97 has significant implications for both existing and new buildings. For more background on Local Law 97, please refer to […]

Flood risk is a major concern for landlords, tenants, and other stakeholders in New York City real estate because the city’s geographical location makes it vulnerable to extreme weather conditions such as heavy rainfall, coastal storm surge, tidal inundation, or river overflow. Legal Requirements For Flood Disclosure In response to the increasing dangers associated with […]

The Real Estate Board of New York (REBNY) is set to make significant changes to broker fees starting January 1, 2024. These revisions will ultimately alter the Universal Co-Brokerage Agreement (UCBA), which governs both REBNY and the Residential Listing Service (RLS) in NYC. The main change REBNY outlines is that they will ban listing brokers […]

Navigating the world of real estate in New York City requires not only a keen eye for investment but also smart asset management. When it comes to securing your financial future and protecting your valuable assets, a trust can be a powerful tool. In this client alert, we will highlight some of the benefits of […]

Commercial property often involves complex leasing arrangements. One such arrangement is when a tenant becomes a sublandlord by subleasing their space to a subtenant. While this arrangement can surely offer benefits to the parties involved, it can also create certain challenges. In this client alert, we will address some of the challenges that arise when […]

On Aug. 3, 2023, the New York City Council passed a recently revised bill that will allow restaurants to continue to offer patrons outdoor dining year-round, something that became commonplace during the pandemic thanks to the emergency outdoor restaurants program. The now-permanent legislation permits restaurants outdoor dining options, including year-round sidewalk dining or dining in […]

In 2021, New York State enacted its new Cannabis Law, creating a new licensing structure for cannabis retailers. The Cannabis Control Board issued its first licenses under the new law in November 2022, and in the following months, New York City has seen a proliferation of cannabis retailers setting up shop. In response to growing […]