On June 14, 2024 HPD clarified how 421-a(16) projects can request and receive an extension of time to achieve a Completion Date (until June 15, 2031). The previous Completion Date deadline until now has been June 15, 2026. HPD’s website now explains: Qualifying rental...
The NYC Department of Finance published the fiscal year 2024/25 final property tax assessment roll on May 25, 2024. Tentative Roll: DOF published the 2024/25 tentative property tax assessment roll on January 15, 2024. From the May 25, 2023, final assessment roll for...
As a follow-up to the firm's May 1, 2024 announcement regarding recent changes to the New York State Cannabis Law and related amendments to curb unlicensed cannabis sales in New York State, Rosenberg & Estis, P.C. has been advised from industry trade groups that...
In response to the passage of Good Cause Eviction (“GCE”) on April 20, 2024, DHCR released guidance clarifying some of the questions with respect to owners’ obligations under the new law. A copy of the guidance issued by DHCR can be found here. We are writing to...
As announced by Rosenberg & Estis, P.C. earlier this week, the 2025 Budget Legislation signed into law by Governor Hochul on April 20, 2024 included major new and amended housing laws to reshape residential development and ownership in New York City and New York...
Join R&E Member Daniel M. Bernstein and R&E Counsel Nick DiLorenzo on May 9, 2024 from 2:00pm - 3:30pm for a comprehensive analysis on the newly passed housing incentive laws. Take advantage of this opportunity to learn more about how these newly passed laws...
On April 20, 2024 as part of the Budget Legislation, NYS Governor Hochul signed into law major new and amended housing laws which will reshape residential development and ownership in New York City and New York State. Rosenberg & Estis, P.C. has been closely...
The U.S. Department of Housing and Urban Development has just issued the 2024 Area Median Income numbers for the NYC Metropolitan Area (“AMI”) which show an approximate 10% increase over 2023 AMI numbers. AMI numbers are typically used by regulatory agencies to...
On March 20, 2024, the City Planning Commission formally adopted the Green Fast Track for Housing rule changes to reduce the burden of environmental review on new housing developments by shortening approval times and reducing costs for new housing projects. The plan...
Governor Signs Rent Stabilization Chapter Amendment As we previously advised, on December 22, 2023, Governor Hochul signed S2980C, related to a series of housing issues, and subject to a negotiated chapter amendment to be passed by the Legislature during the...