Legal

In New York City, the term “pied-à-terre” commonly refers to an apartment used as a non-primary residence. Pied-à-terre rentals can often be found in Condominium and Cooperative buildings as well as townhouses. Over the past few years, New York State has enacted legislation which significantly affects rental units. This client alert will address the Housing […]

New York County is the most densely populated county in the country, with over 70,000 inhabitants per square mile. Developing real property in this dense cityscape poses logistical and legal challenges when the need to access a neighboring property arises. Access agreements are contracts between property owners that grant permission to enter another’s property to

For many years, a common form of guaranty of commercial leases in New York has been a limited guaranty colloquially referred to as a “good guy guaranty.” Under a full guaranty, the guarantor takes complete responsibility for the tenant’s obligations under the lease, so that if the tenant were to default, the guarantor is liable

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