News: Spotlight Content

2015 Year in Review - Vincent Danzi

Vincent Danzi, First Nationwide Title Agency, LLC Vincent Danzi, First Nationwide Title Agency, LLC
What real estate project, transaction, market trend or product had a significant impact on your industry in 2015? The residential lending and transaction management markets are still awash from the TRID tsunami: the delayed and late-in-the-year implementation of the TILA RESPA Integrated Disclosure regulations and forms on October 3, 2015. These regulations and forms constituted a seismic shift in the landscape for professionals who represent the lender’s interests in a real estate transaction. The HUD-1 settlement statement had acted as something of a lingua franca for how the costs of the conveyance of real property should be depicted on a statement at closing, and to an extent, the industry at large, including the commercial market, is losing that.
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Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin

When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
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The strategy of co-op busting in commercial real estate - by Robert Khodadadian

The strategy of co-op busting in commercial real estate - by Robert Khodadadian

In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
Oldies but goodies:  The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
Properly serving a lien law Section 59 Demand - by Bret McCabe

Properly serving a lien law Section 59 Demand - by Bret McCabe

Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:

Formal Legislative Role

Limited direct lawmaking power: The NYC Council is the primary