The recent U.S. economic downturn has left many businesses, large and small, struggling to stay afloat. You may be concerned about how your company will survive and how to get it back on stronger financial footing. Operations that have worked for many years no longer...
Industry Updates
NYC Real Estate Update: Affordable Housing & Other Opportunities in Current Market
In addition to its terrible human cost, the COVID-19 pandemic and state of emergency in NY have profoundly affected real estate and forced reconsideration of the highest and best use of properties and development sites. Owners, lenders, purchasers and other NY real...
Breaking Update from Rosenberg & Estis, P.C.
Dear Clients, As you may know, a number of cases are currently pending in federal court concerning the constitutionality of the Housing Stability and Tenant Protection Act of 2019 (HSTPA). Two of those cases -- CHIP/RSA et al v City of New York et al. and 74 Pinehurst...
DHCR Extends 2020 Annual Filing Deadline
Dear Clients, DHCR just issued Advisory Opinion 2020-5 extending the July 31 deadline for filing the 2020 Annual Rent Registrations to September 30, 2020. The extension will provide much needed relief for those owners who have been out of office and unable to gather...
NYC Property Tax Update
Dear Clients, Last night the New York City Council passed the property tax rates for fiscal year 2020/2021. Tax Class 2 (apartment buildings) decreased 1.65% to 12.267% - the lowest rate in 13 years. Tax Class 4 (commercial) increased 1.48% to 10.694% - the highest...
DHCR’s Office of Rent Administration
Dear Clients, DHCR's Office of Rent Administration website announced that it is opening its Borough and District Offices in NYC and Westchester to provide service to visitors "By Appointment Only" scheduled at least a day in advance. The announcement makes clear that...
NYC Property Tax Update – June 2020
Dear Clients, The NYC Department of Finance posted the new property tax bills for the start of the 2020/2021 tax year and for payment due July 1. You can access the bills at http://nyc.gov/taxbill. DOF calculated these bills with the prior year's 2019/2020 tax rates....
A Look At Pending New York State Legislation – June 2020
Dear Clients, In response to the COVID-19 pandemic, New York has seen a flurry of legislative action at both the city and state levels affecting real estate and landlord-tenant matters. continues to monitor these developments and to...
What Landlords Need To Know About Bankruptcy
Filing Mistakes in Bankruptcy Have Cost Landlords Tens of Thousands of Dollars or More If you have a tenant or a counterparty in bankruptcy, it is essential that you protect your rights. Key among those actions is taking the right steps to assure that you effectively...
CLIENT ALERT: NYC Property Tax & Essential Construction Update | April 23, 2020
Dear Clients, We're writing to update you regarding key property tax, tax incentives and essential construction information for your properties and development projects. RPIE Deadline Extended: The NYC Department of Finance extended the Real Property Income &...