Due Diligence When Buying, Selling or Financing Rental Property in New York
When our firm was founded in 1975, we built our reputation handling rent regulation issues for landlords in the outer boroughs. We have more than four decades of experience deftly performing due diligence for projects of all sizes in the often-tumultuous world of New York City real estate.
When guiding clients through the purchase, sale or financing of New York rental property, our performance of rent regulatory due diligence assures them that they have all of the relevant information about the transaction they wish to enter.
Our attorneys examine the balance sheet, reports of building inspectors, and the rental history of both regulated and unregulated apartments to confirm that there is no rent overcharge liability on regulated apartments, and that the unregulated apartments are truly unregulated. We investigate whether there has been any prior litigation or administrative proceedings and, if so, how they may have affected the value of the property.
In short, we seek to uncover any matter that may reduce or impact the value of a client’s investment. Due diligence also allows lenders to know that the property supports their loans and that the loans will be repaid.
Our lawyers’ extensive experience with New York City real estate gives us the ability to know which questions to ask and how to find the answers — quickly and efficiently.