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What Developers Need to Know About New Jersey’s Rent Control Exemption Law to Ensure Entitlement to Exemption for Newly Constructed Multi-family Housing.  A property owner in Jersey City is facing a $400 million federal class action lawsuit alleging that the landlord did not follow the procedural steps required to be eligible for exemption from local […]

While the New York City real estate market can be extremely competitive, moving too quickly often backfires. Before purchasing a condominium or cooperative in New York City, it is important to do you homework. Purchasing property in NYC can involve a dizzying number of legal issues. These include condo and co-op rules, rent restrictions, and […]

Relaxing land use restrictions benefits real estate developers, renters, and homebuyers, according to several recent studies. Although concerns exist that building more housing could do more harm than good when it comes to affordability, the data confirms that the principle of supply and demand also applies to the housing industry. Boosting supply is essential to […]

If you purchase real property from a foreign person or entity, you may be required to withhold taxes from your payment to the seller under the Foreign Investment in Real Property Tax Act (FIRPTA). The federal tax law is designed to ensure that foreign sellers pay any applicable capital gains tax on profits realized from […]

Your home is likely your greatest asset, which is why it is so important to adequately protect it. Homeowners insurance protects you from the financial costs of unforeseen losses, such as theft, fire, and natural disasters, by helping you rebuild and replace possessions that were lost While the definition of “adequate” coverage depends upon a […]

Making a non-contingent offer can dramatically increase your chances of securing a real estate transaction, particularly in competitive markets like New York City. However, buyers should understand that waiving contingencies, including those related to financing, or appraisals, also comes with significant risks. Determining your best strategy requires careful analysis of the property, the market, and […]

If you are considering the purchase of a property, you may wonder — what is title insurance, do I need it, and why do I need it? Even seasoned property owners may question if the added expense and extra paperwork is really necessary, especially considering that people and entities insured by title insurance make fewer […]

If you operate a business, you need to understand how commercial zoning rules may impact you. For instance, zoning regulations can determine how you can develop a property and what type of activities your business can conduct. To ensure that you aren’t taken by surprise, it is always a good idea to consult with experienced […]

Pursuant to Local Law 97 (LL97), most New York City buildings over 25,000 square feet are now required to meet new greenhouse gas (GHG) emissions limits, with stricter limits coming into effect in 2030. The new law is designed to foster deep emissions cuts from the city’s largest buildings. For building owners, understanding your compliance […]

New York City buildings greater than six stories tall are subject to the Façade Inspection and Safety Program (FISP). The safety of these buildings must be periodically inspected by a Qualified Exterior Wall Inspector who then submits a report to the New York City Department of Buildings designating the building as either Safe, Unsafe, or SWARMP, which […]

The combination of lengthy leases and high rents means even small leasing disputes can have significant financial consequences. Both landlords and tenants must fully understand their rights and obligations under lease agreements and commercial property law. Scarinci Hollenbeck, LLC can assist with all of your commercial real estate needs. Commercial Landlord Responsibilities Owning and leasing […]