NYC Real Estate Attorney’s Closing Report: July 2017

NYC Real Estate Attorney’s Closing Report: July 2017

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
360 Cabrini Boulevard, NY, NY $392,000 Coop Purchase
370 East 76th Street, NY, NY $870,000 Coop Purchase
55 Engert Avenue, BK, NY $1,570,000 Condo Sale
300 East 54th Street, NY, NY $1,610,000 Coop Purchase
456 West 19th Street, NY, NY $2,150,000 Condo Purchase
80 East End Avenue, NY, NY $1,305,000 Coop Purchase
 450 Pelham Road, New Rochelle, NY $88,000 Coop Purchase
98 Suffolk Street, NY, NY $438,000 Coop Sale
 142 Bank Street, NY, NY $1,335,000 Coop Purchase
504 West 110th Street, NY, NY $772,000 Condo Purchase

A Night on the Town

Weidenbaum and Harari treated its employees to a night out at Rare Bar & Grill’s rooftop bar, where they enjoyed drinks, conversation, and a prime view of a certain NYC landmark (you know, THAT one).

A huge shout out to all our staff, who have worked so hard this year to keep Weidenbaum and Harari one of NYC’s top-rated Real Estate law firms!

The group, together

Not pictured: unusually large gorilla

How fancy are we? We got a personalized sign

WHFirm Welcomes New Associate

We are proud to introduce our newest attorney to the WHFirm team! Stephanie King brings extensive experience in the purchase and sale of residential property, having previously worked at a bilingual english-mandarin law firm specializing in new constriction condominiums. She also brings her buoyant good cheer and can-do attitude, and looks forward to helping our clients with their future sales and purchases.

NYC Real Estate Attorney’s Closing Report: June 2017

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
21 Ludlow Street, NY, NY $1,000,000 Condo Purchase
389 East 89th Street, NY, NY $1,200,000 Condo Purchase
383 Grand Street, NY, NY $1,025,000 Coop Purchase
201 East 28th Street, NY, NY $292,500 Coop Purchase
350 Bleecker Street, NY, NY $2,075,000 Coop Sale
3512 Oxford Avenue, Riverdale, NY $229,000 Coop Purchase
323 East 8th Street, NY, NY $347,400 Coop Purchase
45 Grace Court, BK, NY $490,000 Coop Purchase
 279 East 79th Street, NY, NY $1,213,000 Coop Purchase
350 West 53rd Street, NY, NY $655,000 Condo Sale

FinCEN Extends Geographic Targeting Orders

The Financial Crimes Enforcement Network (FinCEN), a division of the US Treasury Department, has announced that it is again extending the Geographic Targeting Order which first went into effect in 2016. The update includes some important changes to the existing requirements. Most notably, while purchases made by wire transfer were once exempt, such transactions will now need to be reported.

The order, which is intended to combat money laundering schemes by identifying individuals behind companies and other entities purchasing real estate, is now effective from the 22nd of September, 2017, to March 20, 2018, unless it is further extended in the future.

For more details, please see the attached link to the FinCEN website.

Welcome to our New Interns and Externs

With the beginning of another school term, we would like to welcome our new fall interns and externs to the firm! Christina Vroulis and Peter Figman (of New York Law School and Brooklyn Law School respectively) are old hands at the office, having served previously as our summer interns. However, we are also happy to welcome a new extern, Charles Ainbinder, who joins us for the first time from Brooklyn Law School.

We appreciate all of the hard work that our interns bring to the office, and look forward to working with them in the months to come.

Helpful Resources for Purchasers

Though we navigate it every day, the Due Diligence process can often appear opaque or overwhelming to new buyers. The City, State, and Federal governments host a number of helpful resources, but these can be difficult to find for those who do not know where to look.

To that end, we have compiled a list of online resources where relevant information can be freely accessed, such as property records, tax information, and payment portals for municipal services, among others. We hope that they can be of use not only to prospective purchasers, but to current homeowners as well.

Please note that web addresses can change over time. If a link is broken, we recommend working backward through the URL to the last intact page.

Due Diligence Links

 

 

WHFirm on Wall Street

Attorneys Jack Harari and Michael Zadjelovich were proud to be part of an event hosted by TitleVest for Real Estate professionals on the floor of the New York Stock Exchange. Pics below!

NYC Real Estate Attorney’s Closing Report: May 2017

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
120 Riverside Boulevard, NY, NY $1,020,000 Condo Purchase
246 Cornelia Street, BK, NY $300,000 Coop Purchase
28 Perry Street, NY, NY $905,000 Condo Purchase
1235 Park Avenue, NY, NY $1,420,000 Condo Purchase
224 Richardson Street, BK, NY $588,000 Condo Purchase
250 South End Avenue, NY, NY $1,930,000 Condo Purchase
18 Vanderbilt Avenue, BK, NY $1,740,000 House Purchase
382 Bergen Street, BK, NY $1,300,000 Condo Purchase
 67 East 11th Street, NY, NY $995,000 Coop Purchase
929 Park Avenue, NY, NY $849,000 Coop Purchase

NYC Housing Mysteries: What is an I-Card?

The I-Card is a paper record that the City of New York adopted in 1902 to document the required building improvements of tenements and multiple dwelling buildings, and for regulating their use. It was a product of the Progressive Era, a period around the turn of the last century when building codes, sanitary conditions, and safety issues in tenement housing all came under greater scrutiny.

Thus, the city came up with a way to track the required alterations that certain buildings made over time—the “I” in “I-Card” refers to these improvements. Such regulations demanded that a tenement had proper and adequate fire-escapes and means of egress through the roof, as well as proper ventilation and lighting in interior areas.

Following the new legislation, the Tenement Housing Department had to locate and review all 83,000 tenements within the city. The department thus developed a standard means of inspection that could be learned quickly by their employees and filed so that these cards could be accessed readily for future inspections. These cards also contained drawings or diagrams to show the exterior and interior arrangement of each tenement house.

For buildings without a Certificate of Occupancy, which was not required until circa 1938, the I-Card can be accepted as the legal record of existing occupancy as of the last date indicated on the card. However, buildings with I-Cards may have or need more recent legal occupancy records if any lawful alteration or conversion work was performed in the building beyond that date. Not all houses built before 1938 have I-Cards—this is likely because they were misfiled, lost, or inadvertently destroyed—but if a building was never considered multiple-dwelling (i.e. housing three families or more) or inspected as such, then it would never have acquired an I-Card in the first place.

Sources:

Home

https://hpdonline.hpdnyc.org