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REAL ESTATE LAW FIRM Rosenberg & Estis, P.C. ESTABLISHES TAX INCENTIVES & AFFORDABLE HOUSING DEPARTMENT
Daniel M. Bernstein Named as Member of Firm to Head New Department
Rosenberg & Estis, P.C., a leading New York City real estate law firm, has named Daniel M. Bernstein as a Member to head the firm’s new Tax Incentive & Affordable Housing Department. Bernstein, formerly Of Counsel to Rosenberg & Estis, will focus on the tax incentive programs and affordability requirements that are critical to New York City residential and commercial projects. The establishment of a department dedicated specifically to tax incentives and affordable housing further demonstrates Rosenberg & Estis’ commitment to providing comprehensive legal representation in the real estate arena. The announcement of this department follows the firm’s recent creation of a Property Tax Department, Construction Department and Co-Op / Condominium Department.
Rosenberg & Estis’ tax incentive services include obtaining and maintaining property tax exemptions and abatements (new and old 421-a, ICAP/ICIP, 420-c, 420-a, J-51, Article XI, etc.) and equivalent reductions in payments-in-lieu of taxes. Affordable housing services can include qualifying for affordable housing finance programs, property tax exemptions or abatements, as well as inclusionary housing benefits under both the voluntary and mandatory inclusionary housing programs and under various zoning benefits programs. The department also provides due diligence reviews for prospective lenders and purchasers of property, either completed or under construction, that are seeking tax exemptions or abatements, or that are subject to regulatory agreements involving affordability requirements.
Rosenberg & Estis attorneys are among the first in New York to represent clients seeking benefits under the new 421-a(16) program, including compliance with the new 421-a(16) program’s construction wage requirements. The firm also assists clients on the combination of the benefits from the 421-a(16) program and the inclusionary housing program, enabling developers to secure property tax exemptions and additional development rights through the same affordable units. The firm also structures condominium declarations that enable properties to maximize tax incentive programs and to reflect financing and business interests.
“The Tax Incentives and Affordable Housing Department is critical to clients who are developing, acquiring or financing a property in New York City,” said Luise A. Barrack, Managing Member with Rosenberg & Estis. “Daniel’s deep knowledge on these issues enables him to lead a team of top attorneys as we provide our clients a full suite of services.”
REAL ESTATE LAW FIRM Rosenberg & Estis, P.C. ESTABLISHES PROPERTY TAX DEPARTMENT
Benjamin M. Williams Joins Firm as Member to Lead New Department
Rosenberg & Estis, P.C., a leading New York City real estate law firm, has announced that Benjamin M. Williams has joined the firm as a Member to lead the firm’s new Property Tax Department.
The addition of Williams and the establishment of a property tax department demonstrates Rosenberg & Estis’ commitment to continue providing clients with comprehensive legal representation across all aspects of real estate. This department is an excellent complement to Rosenberg & Estis’ newly established Construction Department and Co-Op / Condominium Department.
Williams brings extensive experience in New York property tax issues to the firm. He has represented thousands of clients in property tax appeals and at New York City Tax Commission hearings. He has a depth of experience in real estate tax projections for development, acquisition, leasing, financing, and budgeting. Williams also has worked on Industrial and Commercial Abatement Program (ICAP), 421-a, and not-for-profit exemption applications and projections.
“The creation of a department focused on property tax issues helps us to further service our clients as the firm continues to grow,” said Luise A. Barrack, Managing Member with Rosenberg & Estis. “Williams’ deep experience on tax-related issues expands our scope and advances our mission to provide our clients a full suite of services. Real estate tax certiorari is a natural fit for the firm, and clients will benefit from the synergies with our other practice areas.”
“I am excited to help establish this new department in one of the largest and most esteemed New York City real estate law firms. We are already busy. Clients are asking how they can prepare for their 2019 property tax protests, which start in only two months and run from January 15 to March 1,” said Williams. “We expect that within a week, the City Council will vote on the final 2018/19 tax rates, and the Department of Finance will mail the third quarter tax bills.”
Prior to joining Rosenberg & Estis, Williams was an associate attorney with Podell, Schwartz, Schecter & Banfield, LLP. He graduated from Rutgers University School of Engineering with a Bachelor of Science degree and received a Juris Doctor degree from Rutgers University School of Law.