Film and Broadway producer Scott Rudin recently made real estate news when he and his neighbor jointly put their matching West Village Greek Revival townhouses built in 1845 up for sale. The initial asking price for the two four-story properties is $37 million. In the...
New York Real Estate Legal Blog
Shifts in rental market push landlords to pivot
The city's residential real estate marketplace has been volatile in recent years for various reasons. Of course, 2023's teetering economy and rising interest rates on loans meant that loans were prohibitively expensive. It meant that buyers paid a premium if they...
6 Tips for parents buying starter homes for their children
The average Manhattan apartment rents for about $4,000 per month, or $76 per square foot. This is terrible news for those starting their career with an entry-level job in the city unless they work on Wall Street. The price tag can lead college graduates and other...
Whisper listings may be a tantalizing option
The hunt for a dream home can involve drastic measures. Rather than go to multi-listing services like Zillow or similar sites that aggregate data from publicly listed properties, some believe that whisper listings are a better option, mainly if they are buying or...
Local Law 97 enacted
We are all seeing the results of climate change as temperatures rise and the weather is increasingly volatile. Changes to reduce greenhouse emissions have been challenging and expensive. Nonetheless, there is little doubt that something needs to be done. As part of...
Holiday tipping guide for coops and condo residents
Any New Yorker who lives in a coop or condo knows that their building's support staff plays several crucial roles. Some become the heart and soul of their building – a doorman providing warm greetings at the beginning or end of the day, a super who jokes around with...
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...
Buildings need to be careful when hiring independent contractors
Coops and condo associations in New York City hire individuals and businesses to perform various services. Some are professional businesses with a service contract to fix and replace HVAC, wash windows or care for the landscape. Others may be individuals doing one-off...