Jack Harari Guest Speaker at Google

WHFirm’s own Jack Harari and Caroline Malapero were both guest speakers at a recent event held at Google’s New York office, part of a series of lectures hosted by broker Roger Ma, of Charles Rutenberg LLC. Called Buying 101, the series is a resource for employees, many of whom may be new to New York City and its unique Real Estate market.

The New York Times recently published the following article, which should prove helpful to anyone thinking of purchasing a property in New York City. Among other tidbits, the article includes tips on fees and financing, key differences between coops and condos, advice for those needing a real estate broker, and a few tough truths about the bidding process.

The overall lesson of the article is to be informed, flexible, and prepared for any possible bumps in the road throughout the life of the deal, from bidding to closing. We would heartily recommend consulting a real estate professional with any questions about the process.

In New York City, where multi-unit residential constructions make up the majority of available housing options, the soundproofing of apartments has become a booming industry. This article examines the science and practice of deadening the noise from that clomping upstairs neighbor or bassoon quartet, and how acoustic expertise can help to resolve the noise disputes that can make life difficult for tenants, neighbors, and building management.

The city council recently approved a plan aimed at the rezoning of East New York, according to this article from DNAinfo. The plan, which passed near-unanimously, was lauded by many for its comprehensiveness and its focus on public infrastructure and housing, while others are critical, believing that the plan does not do nearly enough to reign in gentrification in East NYC.

Proponents and critics can agree, however, that the passing of the rezoning plan will certainly alter both the area itself and the value of its real estate. How much so remains to be seen.

We are excited to share a recent article from Forbes, which includes a quote from partner Jack Harari. The article, entitled “Should You Waive Your Mortgage Contingency?,” was written by Roger Ma, and explores the risks and rewards that waiving the contingency can offer. While it can make an offer more attractive in a competitive market, it can also leave the purchaser exposed if they are unable to obtain financing. It is important to discuss the mortgage contingency or lack thereof with your attorney early on in the contract review process.

The New York Times Real Estate section recently published an an advice column with information that prospective coop buyers may find pertinent.

Two specific questions are ethical in nature: the first examines the use of “dummy money,” funds loaned or temporarily deposited into a bank account prior to closing in order to fulfill coop board financial requirements. The second examines potential loopholes in the enforcement of coop pet policies.

We suggest adhering to existing policies wherever possible in spirit as well as in letter: any attempt to exploit loopholes can have costly side-effects in the future, and leave the owner vulnerable to disciplinary action or even litigation.

For all such questions, we recommend that purchasers consult an attorney or real estate specialist.

We would like to congratulate one of our clients, Mortar Architecture + Development, on their recent profile in the New York Times Real Estate Section. The article tells the story the firm’s condominium at 324 East Fourth Street, a building with a (literally) colorful past.

Weidenbaum & Harari is pleased to represent Mortar in their efforts to populate 324 East Fourth Street with buyers who will appreciate the building’s unique charm.