As of January 1, 2025, several significant real estate laws have been enacted in New York, aiming to address housing affordability and availability, streamline development processes and change the economic dynamic of the rental market. These changes reflect the...
Real estate law
City Council passes Intro 360
The New York City Council recently passed significant legislation known as Intro 360, or the Fairness in Apartment Rentals Expenses Act. This bill, passed in a veto-proof 42-8 vote, introduces a notable change in the real estate market by shifting the responsibility...
One year later: how Local Law 18 reshaped NYC’s real estate landscape
New York City's real estate market has always been a dynamic beast, but the introduction of Local Law 18 in September 2023 sent shockwaves through the industry. This controversial legislation aimed to tackle the city's housing crisis by cracking down on short-term...
Facing the challenges of special assessments
When living in a cooperative or condominium, residents inevitably face special assessments. The boards levy these special fees on shareholders or unit owners to cover unexpected expenses or significant repairs. It's common for owners to react with frustration to these...
Local Law 18 is already having an impact
The rise of short-term rentals using Airbnb changed the real estate market in countless ways. A few downsides included a steady stream of strangers passing through the building. Often on vacation with little need to build relationships with neighbors, they could be...
Can a building eject or evict a condo owner?
It’s the law of averages that putting large numbers of people in a condominium building can lead to situations where the rules are not being followed and and the board needs to do something to enforce the by-laws or house rules. Many times these disputes end up in...
Flood zone properties see lower prices and fewer sales
Unless they see it as part of their daily routine, New Yorkers tend to forget that the city is surrounded by water. If this is the case, blunt reminders often occur when extreme weather events like hurricanes or record rainfalls flood streets, subways and garden-level...
What if the building next door’s HVAC is too loud?
Loud neighbors come in many forms, ranging from college students to music lovers to loud talkers. While those renting an apartment in the City of New York are expected to tolerate a certain amount of noise that flows from city living, no one is required to suffer an...
Can parents leave a co-op to their children?
Parents often find peace of mind by setting aside significant assets like property or homes when making their estate plans. However, the co-op board may have other ideas about whether the heir can move into or stay in the shareholder’s apartment. In many cases, the...
What is the difference between residence and domicile?
Many co-ops require that tenant-shareholders use their apartments as their primary residence. This obligation is usually set forth in the proprietary lease, occupancy agreement, or other contracts or regulations governing the use of the Apartment, such as...