Legal

Below is the text of an alert that we sent to our clients. We are re-posting on our blog. Dear Clients and Friends, Last week we sent an email about preserving your commercial lease.  If you missed the email it has been reproduced on our blog and is available here: https://www.coopersmithandcoopersmith.com/2020/03/13/preserving-your-commercial-lease-through-covid-19/  There has been a lot

Below is the text of an alert that we sent to our clients. We are re-posting on our blog. Dear Clients and Friends, These are no doubt trying times for all of us personally and professionally. While there are many items to focus on, the purpose of this email is to address your commercial lease obligations and

In New York City, the 15% residential brokerage commission feels almost like a rite of passage.  For tenants paying one of the highest rents around the country, paying the brokerage commission at lease execution can feel like a punch to the gut.  Of course, residential brokers work very hard to facilitate a transaction and are

Today, New York State Department of Taxation and Finance quietly changed the disclosure requirement for condominium purchases.  A link to The Real Deal article with more color on this change can be found here:  https://therealdeal.com/2019/11/07/state-quietly-removes-mention-of-condos-in-llc-law/ As previously noted in our blog, the interpretation of Senate Bill S1730 led to some tumult among a certain segment

On September 13, 2019, Governor Andrew Cuomo signed into law Senate Bill S1730. The law amends New York State Tax Law Section 1409 and NYC Admin Code Section 11-2105 to require disclosure of all members of a limited liability company when a limited liability company purchases or sells residential property consisting of 1 to 4 family

In recent years, there has been a lot of talk about the retail apocalypse due in part to noteworthy bankruptcies, massive store closings, and the unprecedented number of store vacancies across New York City. Real estate giant Brookfield Property Partners made headlines in 2018 when the firm acquired seven storefronts on vacancy-ravaged Bleecker Street in

There was a lot of attention around Kenneth Griffin’s $238 Million apartment purchase at 220 Central Park South. By setting a record as the most expensive home purchase in the United States, the news brought a lot of issues to the forefront, one of the many being the “pied-à-terre” tax which has been introduced annually

As a real estate attorney, I am thinking about what retail concepts succeed and what don’t since I often find myself working on transactions at the beginning and end of a store’s lifespan. There was a lot of talk about how within the span of 48 hours several large retailers announced they would be closing