Legal

Al Fresco All Year: NYC’s Latest Legislation Reshapes The Dining Landscape

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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 […]

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What Does Local Law 97 Mean For Residential and Commercial Property Owners and Commercial Rents

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On April 18, 2019, the New York City Council passed the Climate Mobilization Act, with the goal of making the city carbon neutral by 2050. In our prior alerts What Does A Building’s Energy Efficiency Grade Really Mean? and Understanding Local Law 97: The Energy Efficiency Law Poised to Shape New York Real Estate we

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New Bill Introduced Today Affecting Residential Leasing Commissions

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Proposed legislation introduced to the New York City Council today would regulate residential leasing commissions. If this sounds familiar, a bill introduced to the New York City Council in February of 2019 would have limited the amount a residential broker hired by an owner could collect from a tenant to one (1) month’s rent, though

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Understanding the Current State of Commercial Lease Guaranties

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On Friday, March 31, 2023, the Southern District of New York decided Melendez v. City of New York, a case affecting commercial lease guaranties. In this alert, we summarize the decision in Melendez and what it means for commercial tenants and landlords. Courts generally treat guaranties like any other contract, applying ordinary principles of contract

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Understanding Local Law 97: The Energy Efficiency Law Poised to Shape New York Real Estate

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On April 18, 2019, the New York City Council passed the Climate Mobilization Act, with the goal of making the city carbon neutral by 2050. In our last alert What Does A Building’s Energy Efficiency Grade Really Mean?, we addressed Local Law 33, a predecessor to the Climate Mobilization Act. The energy efficiency grades pursuant

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Attorney Escrow Deposits in Light of Financial Instability

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In light of recent instability among financial institutions, companies of all sizes are evaluating how cash balances are maintained. This is especially relevant for lawyers engaged in real estate transactions who are holding escrow deposits. This client alert will highlight the responsibility of attorneys acting as an escrow agent in real estate transactions. The Federal

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Summer Rents Are Made in the Winter: What Owners Need To Know About Their Leases

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Some people may be hitting the gym in anticipation of summer, but landlords also need to get in shape for the summer rental season. In this alert we will address the current rental market, what owners need to do to prepare for the upcoming rental season, and other issues for seasonal summer rentals. Rents in New

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Proposed Legislation to Reshape New York City Co-Op Purchase Process

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On Thursday, February 2, 2023, Public Advocate Jumaane Williams and Bronx Councilwoman Pierina Sanchez introduced three new bills which would require New York City Co-Op boards to provide a rationale for denying a purchaser’s application, to make financial disclosures to prospective purchasers, and to provide standardized applications. These bills are the first to be introduced

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