Articles in the Legal Category
Rosenberg & Estis, P.C., after a marathon settlement conference, achieved a settlement of pending litigation with the U.S. Attorney’s Office on behalf of its client, a New York co-operative corporation.
According to the Magistrate Judge, this is the first time that the Justice Department has agreed to a settlement requiring a tenant who purportedly suffers from a disability requiring a reasonable accommodation to permanently remove the pet.
As part of the settlement, there was no finding of discrimination or a “pattern or practice” of discrimination on behalf of the co-op, which were …
Duval & Stachenfeld LLP announced the launch of its Strategic Non-Profit Practice Group.
The group will combine the expertise of the Firm’s Non-Profit Group – Tax Group – Real Estate Group – and Business Reorganization Group – to provide mission-critical and strategic advice to non-profit organizations as they navigate this rapidly-changing sector.
The group will assist non-profit organizations on matters such as mergers, acquisitions, dispositions, restructurings, downsizings, joint ventures, tax exemption investigations, marketing and fund-raising, and strategic planning.
In addition, the Firm will bring to bear its renowned real estate expertise by providing …
Finance & Accounting, Legal »
Duval & Stachenfeld LLP has launched a Tax Controversy Practice Group.
The group will meld the expertise of the firm’s tax, litigation, not-for-profit, real estate and general counseling practices into an integrated practice group that is dedicated to protecting the firm’s clients from adverse results in controversies or other situations in which there is a real risk of actual liability, litigation from the government or a third party, or reputational damage.
The practitioners who head this practice group all take pride in crafting solutions to tax-related problems that are at the same …
Finance & Accounting, Legal »
By Carol J. Patterson
& Alana Sliwinski,
Zetlin & De Chiara LLP
With the advent of 2015, the 114th Congress began its legislative session faced with an immense pressure from the real estate, construction and insurance industries to reauthorize the Terrorism Risk Insurance Act (TRIA).
The legislation creates a public-private collaboration guaranteeing federal assistance to the private sector for certain insurance losses caused by acts of terrorism.
Congress allowed TRIA to expire on December 31, 2014 but reauthorized it on January 8 with a 93-4 vote in the Senate.
Before then, however, current and anticipated …
Hebert M. Balin, retired artner of Certilman Balin Adler & Hyman, LLP, who practiced law for six decades and was one of the first attorneys to introduce land use planning concepts on Long Island, died on January 9, 2015, at Winthrop Hospital in Mineola. He was 86.
Balin distinguished himself in the areas of commercial real estate, environmental law and land use. His use of urban renewal laws to create well-balanced planned communities has helped shape the region’s development.
He served as a member of the Central Pine Barrens Advisory Committee, and …
By Adam Bailey
and Dov Treiman,
Adam Leitman Bailey, PC
Real estate leases are, by their nature, bets the parties are placing on what the future may hold.
Both landlord interests and tenant interests try to hedge their bets by inserting clauses to produce certain results in the event of an uncertain future.
Chief amongst these mechanisms are liquidated damages clauses that seek to give to an event of breach of the contract at an unpredictable time with unpredictable consequences, certain quantification.
The importance of liquidated damages clauses are two-fold: They make the tenant …
By Frank Chaney, Of Counsel
Rosenberg & Estis PC
Zoning attorneys approach zoning due diligence as if they were uncovering the mysteries behind the Dead Sea Scrolls. It is an exacting process that requires analysis, interpretation, translation and explanation.
We want to know what the meaning of “is” is.
Large development companies in Manhattan will typically hire a host of architects, attorneys and consultants to do handle zoning due diligence. The effort ranges from architects to do zoning calculations and prepare massing studies, to code consultants or expeditors to advise on potential building code …
For someone who orchestrated arguably the most talked-about condo offering of 2014, Jeff Schwartz has gotten remarkably little attention. Then again, lawyers rarely do.
Schwartz, an attorney in Wolf Haldenstein Adler Freeman and Herz’s real estate practice, has just finalized the offering plan for Alchemy Properties’ 34 Woolworth Building condos, including the much publicized $110 million penthouse.
Dubbed the “castle in the sky”, the seven-story penthouse could well become Manhattan’s most expensive condo if it meets its asking price of $11,700 per s/f.
Construction & Design, Legal »
By Henry L. Goldberg,
Goldberg & Connolly
We continue to sound the alarm about the increasingly wide-spread use by public agencies of C.O.F.E.D.s (Contractor Forfeiture Enhancement Devices”).
The drumbeat of this campaign will warn of the land mines to which we have seen contractors and subcontractors repeatedly, and often tragically, fall victim.
In this article, we alert you to New York City’s efforts to have contractors waive valuable claim rights through the use of “partial” or interim extension of time (EOT) requests that City agencies routinely require contractors to execute in order …
Finance & Accounting, Legal »
By Kurt Koegl,
2013 saw 19 REIT IPOs raising $5.7 billion in capital, including the high-publicity Empire State Building IPO, which raised $930 million.
How did the Empire State Building REIT (Empire State Realty Trust; NYSE Ticker: ESRT) get to market?
It did so through the use of a “roll-up” including the landmark namesake building and a portfolio of New York properties owned by the Malkin family.
A REIT rollup gives real estate owners liquidity, preserves the tax basis of existing investors that do not want to cash out of their …