Legal

New York State has enacted a long-debated tax on high-value residential properties in New York City that do not serve as a primary residence, colloquially known as the “pied-à-terre tax”. Effective for fiscal years beginning July 1, 2026, the legislation imposes a substantial annual surcharge on certain luxury condominiums, cooperative apartments, and one-to-three family homes located […]

In January, 2026, the New York City Council passed Intro 994-A, now Local Law 23 of 2026. This law adds a new cooling requirement to the NYC Housing Maintenance Code. In broad terms, the law will require owners of covered dwellings to install and maintain air conditioning in tenant-elected rooms on a phased timetable. The

Cooperative, or “Co-Op,” housing has long been a central component of the New York City real estate market. In many buildings, boards of directors carefully review potential buyers to ensure applicants are financially stable and compatible with the community. However, the board application and approval process can be hard to predict.   Intro. 1120-B, now

Section 881 of the Real Property Actions and Proceedings Law (RPAPL § 881) has long allowed an owner to seek judicial intervention in respect of a license to enter a neighbor’s property when access is needed to complete construction or repairs and voluntary access has been denied. Many parties, however, negotiate license agreements in lieu

Lead paint disclosure has long been a requirement in residential real estate transactions. In 1978, the United States Consumer Product Safety Commission banned the residential use of lead-based paint ≥ .06% lead (600 ppm). In 1992, the United States Congress enacted the Residential Lead-Based Hazard Reduction Act which required the disclosure of known information on

The past year brought a steady flow of legal changes in New York that affected New York City real estate in different ways. Below is a review of some of our 2025 client alerts.   Fair Chance Housing Act: Local Law 24, the Fair Chance for Housing Act, took effect on Jan. 1, 2025. The law

Beginning January 1, 2026, the New York LLC Transparency Act (“NYLLCTA”) will require limited liability companies formed or registered in New York State to report information about their beneficial owners to the Department of State. However, a veto of S8432/A8662 by Governor Kathy Hochul on Friday, December 19, 2025, loosens the requirements under the NYLLCTA.

The following client alert has been written in collaboration with UrbanDigs. Manhattan and Brooklyn residential condominium pricing has held steady through the second quarter of this year, according to UrbanDigs, but shifts in foreign exchange rates have made the market more accessible to certain international buyers. The U.S. dollar has declined nearly 11% this year against

Legal Requirements For Trust-Owned Co-op Apartments Trust ownership has emerged as an effective strategy for cooperative apartment shareholders seeking to avoid probate and achieve broader estate planning objectives. In recent years, an increasing number of shareholders have adopted this approach as part of their comprehensive estate planning, and cooperative boards have become more familiar with

Midtown South Rezoning Clears Final Hurdle On August 14, 2025, the New York City Council approved the Midtown South Mixed-Use (MSMX) rezoning plan. The measure, which previously passed through the Zoning and Franchises Subcommittee and the Land Use Committee, represents the largest housing-focused rezoning adopted by the city in more than two decades. This client alert outlines the key amendments and features of