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...
Rosenberg & Estis, P.C. is pleased to announce its upcoming webinar, "Housing New York: Law Changes In Gov. Hochul’s Budget Proposals," to take place Wednesday, March 15 from 12pm - 1pm. The program will be led by speakers Frank E. Chaney, Of Counsel with the...
Rosenberg & Estis, P.C. is pleased to announce the 2nd and final part of our 421-a Webinar Program has been scheduled for Wednesday, March 22 from 12pm - 1:30pm. Daniel M. Bernstein, Member and Head of R&E's Tax Incentives & Affordable Housing Department,...
As part of her 2024 budget proposal, Governor Hochul has proposed the addition of §467-m to the Real Property Tax Law. Dubbed “Affordable Housing from Commercial Conversions” or “AHCC,” the proposal would incentivize the conversion of non-residential buildings in New...
The New York City Council passed Local Law 18 in January 2022 regarding registration of short term rentals, which Local Law became effective on January 9, 2023. Pursuant to Local Law 18, booking service platforms such as Airbnb, VRBO, Booking.com and others that...
In widely-expected decisions issued on February 6, the U.S. Court of Appeals for the Second Circuit upheld the constitutionality of the Rent Stabilization Law (RSL) as amended by the Housing Stability and Tenant Protection Act of 2019 (HSTPA). Surprisingly, the...
Governor Hochul’s newly released Budget Bill contains many new and significant provisions to incentivize, require and / or facilitate production and preservation of housing and affordable housing in New York City and New York State. Rosenberg & Estis, P.C. is...
On January 25, 2023, the White House released a “Blueprint for a Renters Bill of Rights” and a statement titled “New Actions to Protect Renters and Promote Rental Affordability." The guidance lays out the Biden Administration’s plan for sweeping tenant protections...
In December 2022 the New York State Private Housing Finance Law (PHFL) was amended to allow owners of affordable housing properties to collect rents above the Legal Regulated Rent so long as a Regulatory Agreement is in place with a State or Municipal Agency, Public...
The NYC Department of Finance (DOF) released the 2023/24 tentative assessment roll on January 17, 2023. The Tax Commission application filing deadline to protest your assessed value is March 1, 2023. Market values and taxable values increased for tax classes 2 and 4...