Local Law 97 (LL97) sets strict carbon emissions limits for many New York City buildings. Each year, the Department of Buildings (DOB) publishes a preliminary list, called the Covered Buildings List (CBL), identifying properties that appear subject to LL97. If your...
Rosenberg & Estis Blog
12 Reasons You Might Not Get a Property Tax Reduction
Introduction Here are twelve subtle (but crucial) reasons New York City property owners lose out on tax reductions. Reason #1: Underestimating “Related Party” Disclosures When “Related” Means More Than Family Many owners think “related” only means blood relatives or...
Final NYC Property Tax Error Correction Rules Adopted
Back in November, I posted an overview of the proposed changes to the Department of Finance’s (DOF) rules governing how certain property tax errors can be administratively corrected. Following a public hearing on November 22, 2024—and many spirited comments from...
CTA Enforcement Halted Again by Fifth Circuit
On December 26, 2024, the U.S. Court of Appeals for the Fifth Circuit vacated its previous order, issued only a few days earlier on December 23, 2024, that reinstated the enforcement of the Corporate Transparency Act (CTA) and its beneficial ownership information...
Inside R&E Podcast: Deeds in Lieu of Foreclosure
In this episode of Inside R&E, moderated by Dave Lorenzo, Founder of Exit Success Lab, features Richard Y. Im, a Member in R&E’s Litigation Department, and Jason C. Bergman, Vice President & Senior Underwriting Counsel at Benchmark Title Agency LLC. The...
Fifth Circuit Reinstates CTA Reporting Obligations; FinCEN Updates Deadlines
On December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit issued an order reinstating the reporting obligations under the Corporate Transparency Act (CTA). This decision follows a nationwide preliminary injunction granted earlier this month by the U.S....
How Savvy Investors Can Spot Distressed Properties Before NYC’s 2025 Tax Lien Sale
As New York City prepares for its May 2025 tax lien sale, property owners with overdue taxes face growing financial pressure. For investors interested in distressed real estate, this scenario creates a strategic opportunity: the lead-up to the lien sale provides early...
New J-51 Property Tax Abatement Program
On December 18, 2024, the new J-51 property tax abatement program bill was signed into law. This J-51 program provides potential property tax savings for eligible buildings in New York City that meet certain requirements. Major Eligibility Requirements: Eligible...
New J-51 Property Tax Abatement Program
On December 18, 2024, the new J-51 property tax abatement program bill was signed into law. This J-51 program provides potential property tax savings for eligible buildings in New York City that meet certain requirements. Major Eligibility Requirements: Eligible...
When 15 Years Means 15 Years: A Lesson in PILOT Agreement Drafting
In December 2024, the Appellate Division, Third Department affirmed a lower court decision in Matter of Peaceful Valley Housing Development Fund Corp. v Town of Johnsburg, a case that turned on a subtle—but pivotal—point of contract interpretation. Although the...