NYC Real Estate Attorney’s Closing Report: December 2015
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 |
| 2025 Broadway, NY, NY | $645,000 | Coop Sale |
| 187 Edgecomb Avenue, NY, NY | $938,000 | CEMA Home Refinance |
| 261 West 112th Street, NY, NY | $820,000 | Condo Purchase |
| 120 Bennett Avenue, NY, NY | $425,000 | Coop Sale |
| 1000 Park Avenue, NY, NY | $4,350,000 | Coop Sale |
| 330 South Third Street, BK, NY | $296,000 | Home Purchase |
| 56 Crosby Street, NY, NY | $7,950,000 | Condo Purchase |
| 160 East 65th Street, NY, NY | $1,165,000 | Coop Sale |
| 100 Riverside Boulevard, NY, NY | $2,490,000 | Condo Sale |
| 70 LaSalle Street, NY, NY | $635,000 | Coop Purchase |
Upcoming changes in FIRPTA Withholding
Today’s the day! Beginning February 16, 2016, certain provisions in 2015’s Protecting Americans from Tax Hikes Act (PATH), will go into effect. Among other things, this modifies the withholding rate imposed under the Foreign Investment in Real Property Tax Act (FIRPTA). The withholding rate is now increased from 10% to 15% in most dispositions after this date, while the old rate remains in only limited circumstances. For more detailed information, we recommend speaking with a qualified expert familiar with how FIRPTA will apply in your particular circumstances.
Clients of Weidenbaum & Harari Featured in New York Times Real Estate Section
We were so pleased to see clients of our firm featured in the New York Times—they are wonderful people with a wonderful story. As first-time home buyers in their late fifties, Mr. Inzana and Ms. DeMichele were not typical purchasers. As the article describes, their later-in-life search began suddenly, after they were told that they had three months to clear out of their East Village home of ten years because the landlord had decided to give the apartment to his son. Coincidentally, the same exact thing had happened to them a decade before as well.
Their story reminds us that it’s never too late to take advantage of the benefits that come with owning a home in the City. Whether you are just starting out on your own or getting ready for retirement, the time to consider purchasing NYC real estate may be now.
NYC Real Estate Attorney’s Closing Report: November 2015
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 |
| 10 Park Avenue, NY, NY | $805,000 | Coop Sale |
| 18 West 48th Street, NY, NY | $1,305,000 | Condo Sale |
| 1206 Pacific Street, BK, NY | $450,000 | Condo Purchase |
| 4734 11th Street, LIC, NY | $450,000 | CEMA Condo Refinance |
| 131 West 28th Street, NY, NY | $960,000 | Coop Sale |
| 340 East 93rd Street, NY, NY | $599,000 | Coop Purchase |
| 330 East 49th Street, NY, NY | $683,000 | Condo Sale |
| 970 Kent Avenue, BK, NY | $490,000 | CEMA Condo Refinance |
| 333 East 53rd Street, NY, NY | $525,000 | Coop Sale |
| 333 East 80th Street, NY, NY | $629,000 | Coop Purchase |
Weidenbaum & Harari Quoted in TheStreet
This article from TheStreet, featuring a quote from our own Barry Weidenbaum, contains a detailed explanation of the capital gains home exclusion. Anyone with concerns about capital gains taxes on the sale of property should check it out.