Rosenberg & Estis, P.C. attorneys Daniel M. Bernstein and Nicholas DiLorenzo are proud to have assisted Lendlease in commencing its innovative new development at 1 Java Street, Brooklyn. Upon completion, 1 Java Street will be an 834-unit new construction...
Industry Updates
NYC Guaranty Law Struck Down As Unconstitutional
On August 2, 2022, R&E Members Gary M. Rosenberg wrote in their New York Law Journal column: "By reason of the dispositive motion currently pending in Melendez, owners should prepare for the possibility that any COVID-related commercial rent arrears claims they...
Rosenberg & Estis, P.C. Bankruptcy Updates & Protecting Creditors’ Rights: Silicon Valley Bank’s Parent Files Bankruptcy, Signature Bank is Acquired After its Collapse, and Credit Suisse is Acquired to Avoid its Collapse
Silicon Valley Bank’s Parent Files Bankruptcy On March 10, 2023 it was announced that Silicon Valley Bank ("SVB") effectively "collapsed" in the largest bank failure since the 2007–2008 financial crisis. Regulators seized and transferred SVB into a receivership under...
PHFL Section 610: what you need to know
Pursuant to a recent amendment of the Private Housing Finance Law (PHFL) previously discussed in our January 23, 2023 client alert, owners of affordable housing properties are now permitted under certain circumstances to collect rents above the Legal Regulated Rent so...
Protecting Creditors’ Rights As More Banks Collapse Amid The Largest Bank Failures In U.S. History
Silicon Valley Bank Shut Down in the Second Largest Bank Failure On March 10, 2023 it was announced that Silicon Valley Bank ("SVB") effectively "collapsed." On that day, agents from the Federal Reserve and the Federal Deposit Insurance Corporation ("FDIC") assessed...
R&E Webinar: Housing New York – Law Changes In Gov. Hochul’s Budget Proposals | Wednesday, March 15, 12pm-1pm
Rosenberg & Estis, P.C. is pleased to announce its upcoming webinar, "Housing New York: Law Changes In Gov. Hochul’s Budget Proposals," to take place Wednesday, March 15 from 12pm - 1pm. The program will be led by speakers Frank E. Chaney, Of Counsel with the...
421-a Webinar: Affordability, Rent Stabilization, Deregulation and Recent Litigations | Wednesday, March 22, 12pm-1:30pm
Rosenberg & Estis, P.C. is pleased to announce the 2nd and final part of our 421-a Webinar Program has been scheduled for Wednesday, March 22 from 12pm - 1:30pm. Daniel M. Bernstein, Member and Head of R&E's Tax Incentives & Affordable Housing Department,...
Deep Dive: Commercial to Residential Conversions (proposed RPTL 467-m)
As part of her 2024 budget proposal, Governor Hochul has proposed the addition of §467-m to the Real Property Tax Law. Dubbed “Affordable Housing from Commercial Conversions” or “AHCC,” the proposal would incentivize the conversion of non-residential buildings in New...
Industry Update: Local Law 18
The New York City Council passed Local Law 18 in January 2022 regarding registration of short term rentals, which Local Law became effective on January 9, 2023. Pursuant to Local Law 18, booking service platforms such as Airbnb, VRBO, Booking.com and others that...
Second Circuit Upholds the Constitutionality of the Rent Stabilization Law (RSL)
In widely-expected decisions issued on February 6, the U.S. Court of Appeals for the Second Circuit upheld the constitutionality of the Rent Stabilization Law (RSL) as amended by the Housing Stability and Tenant Protection Act of 2019 (HSTPA). Surprisingly, the...