In an effort to combat discriminatory practices by coop boards, Legislators in Westchester have amended the county’s Fair Housing Law (Article II of Chapter 700), effective immediately. This new amendment attempts to close a loophole by which coop boards could potentially discriminate against prospective purchasers by delaying action on their application beyond a reasonable time […]
Our firm has represented a multitude of lenders in NYC real estate transactions over the years, working closely with loan officers and borrowers to see all parties to a smooth and successful closing. While each lender works somewhat differently, our experience has given us significant insight into what bankers love to see from their attorneys. […]
This is one question that we hear frequently from our former clients, and the short answer is — no. Once closing is complete, the title company is responsible for ensuring that the deed becomes public record by sending it to the county clerk for recording. Once the deed is recorded, the county clerk’s office generally […]
The Financial Crimes Enforcement Network (FinCEN), a division of the US Treasury Department, will again extend the Geographic Targeting Order (GTO) which first went into effect in 2016. This extension will last from November 16, 2018 to May 15, 2019. The GTO’s purpose is to combat money laundering schemes by identifying individuals behind companies and […]
By Keith Furer, Guardhill Financial Be a smarter investor by understanding how lender approvals on buildings work. Whenever someone gets a mortgage on a unit within a coop or condo, a lender must not only approve the borrower, but separately approve the building. Like the borrower, a coop or condo must also meet certain requirements […]
A buyer (for purposes of this article, let’s call her Sally Streetwise) works with her broker to find a property she loves in a beautiful cooperative. The brokers work with the buyer and the seller to reach agreement on the key deal points and then turn the delicate deal over to the lawyers to conduct […]
As public opinion has turned against smoking, NY laws have followed. Smoking bans in public spaces have included stores, schools, and taxis in 1990, bans in restaurants and indoor bars in 2002, and parks, beaches, and pedestrian plazas in 2011. The popularity of the smoking bans in our public spaces have let legislative sights turn […]
When buying or selling a property, a knowledgeable lawyer that practices Real Estate law will help make sure you get exactly what you want out of the transaction. 1. Knowledge of New York City Residential Transactions The “Concrete Jungle” has a unique housing stock unlike anywhere else in the U.S. For example, the great majority […]
Just a few of our recent closings. If you are also looking to buy or sell at these property addresses, you might want to give us a call. Property Value Transaction 1060 Park Avenue, NY, NY $1,317,500 Coop Purchase 300 West 135th Street, NY, NY $1,040,000 Condo Purchase 420 East 51st Street, NY, NY $645,000 […]
If you have been wondering how the new Tax Law will affect your real estate taxes, please take a moment to watch this helpful video prepared by broker Marjorie Dybec of Douglas Elliman Real Estate.