Recently, New York Governor Kathy Hochul signed into law an amendment to General Business Law Article 35-E Construction Contracts (GBL § 756-758), commonly referred to as New York’s Prompt Payment Act, mandating retainage not to exceed 5 percent on all general...
Rosenberg & Estis Blog
421-a Projects — NYC Housing At Risk Task Force (HART) Can Help Expedite NYC Approvals
In light of the looming 421-a(16) completion deadline of June 15, 2026, NYC has created a Housing At Risk Task Force (“HART”) to assist large housing projects. Qualifying projects include those with 100 or more dwelling units already vested for 421-a due to...
R&E Webinar: New York State PHFL Create Affordable Housing Opportunities
In this in-house webinar, R&E Members Daniel M. Bernstein and Nicholas Kamillatos addressed the recent amendments to New York State’s Private Housing Finance Law, showing on a high-level how the amendments create valuable opportunities for certain regulated...
New Corporate Transparency Act Regulations to Take Effect January 1, 2024
The Corporate Transparency Act (“CTA”) takes effect as of January 1, 2024. This broad sweeping Federal Act is part of the Anti-Money Laundering Act of 2020 and will require many entities (“reporting companies”), not previously subject to reporting requirements, to now...
Rosenberg & Estis, P.C. Represents The Durst Organization In One World Trade Center Agreements To Launch NEXTGEN TV In New York
Rosenberg & Estis, P.C., New York City’s premier real estate law firm, served as legal counsel to The Durst Organization in a broadcast television deal to bring state-of-the-art technology to the number one television market in the country. The deal allows public...
DHCR Issues Guidance re: 2023 RSC Amendments
As we advised in a prior client email blast, DHCR recently adopted amendments to the Rent Stabilization Code (“the Amendments”) which became effective on November 8, 2023. DHCR has now issued various documents as guidance to the Amendments, including fact sheets,...
NYC DOF Certification of Continuing Use Deadline January 5, 2024 for NFP Exemption, ICIP Exemption & ICAP Abatement
NFP, ICIP, & ICAP Renewals If you own or lease a NYC property that is currently receiving one of the following property tax benefits, please note that the NYC Department of Finance (DOF) renewal filing period has begun, and the online renewal portal is now open...
Fifth U.S. Bank Collapse & WeWork Files Bankruptcy Rejecting 40 New York City Leases and Seeking to Amend or Exit Substantially All Leases, Heightening Commercial Real Estate Challenges
WeWork Files Bankruptcy Rejecting 40 New York City Leases, Seeking to Amend or Exit Substantially All Leases, and Seeking to Reduce Debt by $3 Billion Between November 6th and 7th, the co-working office space giant, WeWork Inc. and over 500 of its affiliates, all...
Mattone Institute CLE: Cannabis Complications in NYC Real Estate
R&E Member Adam Lindenbaum and Associates Harris W. Davidson and John P. Amato presented a virtual CLE, “Cannabis Complications in NYC Real Estate,” as part of the Mattone Institute CLE Series by St. John’s School of Law. The CLE follows Adam and Harris’ cannabis...
Rosenberg & Estis Adds Member Christopher A. Gorman, Jointly with Associate John Muldoon, to Esteemed Litigation Department
Rosenberg & Estis, P.C. (“R&E”), a leading New York City real estate law firm, announced that Christopher A. Gorman has joined the firm as a Member in its award-winning Litigation Department. Gorman brings his former colleague, John Muldoon, who will continue...