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Keys to Success for Brokers and Clients Dealing with Self-Managed Buildings

October 18, 2015

Many small buildings, especially in challenging financial times, prefer to save on the expense of retaining an outside management company.  Often in such instances, unit owners perform some of the building related tasks, ranging from maintenance of the building to accounting and record keeping services. Such self-managed buildings pose unique challenges to brokers and attorneys […]

NYC Real Estate Attorney’s Closing Report: August 2015

October 15, 2015

A few of our recent closings include: 120 Greenwich Street, NY, NY $702,500.00 Condo Purchase 60 Remsen Street, Unit, BK, NY $1,415,000.00 Coop Purchase 60 Pineapple Street, Brooklyn, NY $2,500,000.00 Coop Sale 140 Seventh Avenue, NY, NY $1,388,888.00 Condo Sale 100 West 119th St, NY, NY $1,300,000.00 Condo Purchase 81 Ocean Parkway, Brooklyn, NY $455,100.00 […]

Changes to New York State Form TP-584

July 30, 2014

The New York State Department of Taxation and Finance has made several important revisions to Form TP-584. Form TP-584 is filed with each conveyance of real property and is used to comply with the filing requirements of the real estate transfer tax, the tax on mortgages, and any applicable exemption from estimated personal income tax […]

Ethics Opinion on the “Grossing Up” of a Real Estate Contract of Sale

January 22, 2014

An important ethics opinion recently weighed in on the practice of some real estate professionals of “grossing up” the contract of sale and providing an equivalent credit at closing to offset the grossed up price. The opinion says that when the purchase price in a contract is “grossed up” and combined with an equivalent seller’s concession, […]

Condos, Co-ops, Cond-ops…Any Questions?

January 21, 2014

As you begin your hunt for a place to call home here in New York City, you might need a brush-up course in the differences between co-ops, condos, and cond-ops. The following short article from Curbed may answer some of the more common questions. Click Here for Curbed Article Of course, if you have other […]

Expiring Tax Breaks for Real Estate Investors

Real estate investors might be interested in the information recently provided by a 1031 Exchange Agent unaffiliated with our firm. Check out the changes in their newsletter: First American Exchange Company Newsletter

New Mortgage Lending Rules Go Into Effect

January 13, 2014

Prospective purchasers looking to obtain financing should be aware of the new mortgage lending rules that just went into effect. An easy to understand article on the topic can be found at: Article: CNNMoney-New Mortgage Lending Rules

Changes to Offering Plan Escrow Regulations

January 10, 2014

As a participant in a new public offering of interests in a condominium, it is important to understand the recent changes to escrow regulations which went into effect on March 1, 2013.  The amendment to the escrow regulations will have an effect on both new offering plans as well as on some existing offering plans. […]

Changes to Yonkers Real Property Transfer Tax

December 14, 2013

Are you familiar with the recent amendments to the City of Yonkers City Code, which have altered the payment schedule for real property transfer taxes?  As a resident of Yonkers looking to sell you current property, or as an individual looking to purchase property in Yonkers, it is important to know that all transfer taxes […]

First NYC Co-Op?

November 11, 2013

Are you looking into purchasing your first co-op here in New York City?  The process can definitely be quite daunting and complicated for those who have never done it before, and many questions can arise from start to finish. Take a look at this article from Curbed that will help provide you with a basic […]