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Decade Answers: Joe Berko

Joe Berko is the president at Berko & Associates, New York, N.Y. What was one of your corporate or career highlights of the decade? After 10 years in real estate I had to chose my next move, join a large shop (I had offers from a few brokerage hosues) or start my own. I chose the option that was the most challanging I felt and the most rewarding. And so in May of 2005, I launched Berko & Associates. The firm was composed of myself, a part time secretary an intern/analyst and two associates. I took space on the corner of 5th Ave and 42nd St.
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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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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
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”.
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Oldies but goodies:  The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

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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