In November 2020, the City Council passed Local Law 114, directing that, by September 30, 2021, the Department of Transportation make the Covid emergency outdoor dining program permanent. While a bill to do that (Intro 31-A) was introduced in the Council in February...
The NYC Economic Development Corporation (EDC) has announced the creation of the NYCIDA Manhattan Commercial Revitalization Program or “M-CORE” which offers substantial financial incentives for improvements to commercial office buildings: (1) located south of 59th...
First Republic Bank Collapsed and Acquired by JPMorgan Chase in Second Largest U.S. Bank Failure On May 1, 2023, the Federal Deposit Insurance Corporation ("FDIC") announced that First Republic Bank has been seized and closed by regulator California Department of...
Bed Bath & Beyond Joins The Growing List of Retailers Filing Bankruptcy On Sunday, April 23, 2023, retail giant Bed Bath & Beyond filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of New Jersey stating its...
Rosenberg & Estis, P.C. proudly introduces Inside R&E, a weekly podcast hosted by New York City’s leading real estate attorneys who discuss current issues facing developers, owners and operators in the industry. Our debut episode features Daniel M. Bernstein,...
Rosenberg & Estis, P.C. attorneys Daniel M. Bernstein and Nicholas DiLorenzo are proud to have assisted Lendlease in commencing its innovative new development at 1 Java Street, Brooklyn. Upon completion, 1 Java Street will be an 834-unit new construction...
On August 2, 2022, R&E Members Gary M. Rosenberg and Alexander Lycoyannis wrote in their New York Law Journal column: "By reason of the dispositive motion currently pending in Melendez, owners should prepare for the possibility that any COVID-related commercial...
Silicon Valley Bank’s Parent Files Bankruptcy On March 10, 2023 it was announced that Silicon Valley Bank ("SVB") effectively "collapsed" in the largest bank failure since the 2007–2008 financial crisis. Regulators seized and transferred SVB into a receivership under...
Pursuant to a recent amendment of the Private Housing Finance Law (PHFL) previously discussed in our January 23, 2023 client alert, owners of affordable housing properties are now permitted under certain circumstances to collect rents above the Legal Regulated Rent so...
Silicon Valley Bank Shut Down in the Second Largest Bank Failure On March 10, 2023 it was announced that Silicon Valley Bank ("SVB") effectively "collapsed." On that day, agents from the Federal Reserve and the Federal Deposit Insurance Corporation ("FDIC") assessed...