On Tuesday June 23 attorneys from the Duane Morris construction group hosted a seminar on June 23 discussing the stimulus package and its impact on the construction industry, especially in New York.
Speakers included Marcia Van Wagner, New York City's deputy comptroller for budget, as well as several experts from Duane Morris LLP including Richard Dyer, Charles Fastenberg, Kenneth Lazaruk, Tamara McNulty, Allen JRoss, and Daniel Toomey.
Duane Morris' New York construction lawyers represented three ($4.9 billion) of the four largest projects and over 47% of the total dollar value of the total value of New York "starts" of 2008.
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
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
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
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”.
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