NYC Amnesty Program Now in Effect

From September 12 to December 12th of this year, the City will be taking part in an Amnesty Program meant to reduce or forgive certain fines and penalties from ECB (Environmental Control Board) violations. To be affected by the program, the fines must have gone into judgment before June 12 of this year. For more information, please see this announcement on the City website.

The Financial Crimes Enforcement Network (FinCen), a division of the US Treasury Department, recently extended targeting orders that went into effect earlier this year. The orders were intended to combat money laundering schemes by identifying individuals behind companies and other entities purchasing real estate. The Targeting Orders will now remain in  effect until February 23, 2017 unless further amended in the future.

Beginning August 28, 2016, these Orders were also extended beyond Manhattan and into the other Boroughs of New York City, as well as some counties in California, Florida, and Texas. To find out more, see this announcement from the FinCen website.

Congratulations to Weidenbaum & Harari’s own Caroline Malapero, who was selected to speak at the 14th Annual Financial Fitness workshop, organized by the Financial Planning Association of New York, on October 1. Caroline took part in a panel to discuss the financial merits of buying and renting Real Estate property in New York. For further information, please see the FPANY website.

Congratulations go out to Anthony Morena, a client of Weidenbaum & Harari, who was recently profiled in the New York Times for his condominium development projects in Brooklyn.

His recent piece in the New York Times highlights how condos in Brooklyn are proliferating, and how he is remaking his old Brooklyn neighborhood of East Williamsburg one building at a time. See the article here to see how Mr. Morena is using a “vinyl revival” approach.