Fraudulent Scheme: Taking Stock of the HSTPA Three Years Later By Zachary J. Rothken “Bad laws are the worst sort of tyranny.” - Edmund Burke Much ink has been spilled describing the drastic effects and purportedly unintended consequences of the Housing...
Rosenberg & Estis Blog
Rosenberg & Estis Names Zachary J. Rothken As Member, Head Of Administrative Law Department
NEW YORK, NY, June 28, 2022 – Rosenberg & Estis, P.C. has announced the promotion of Zachary J. Rothken to Member and Head of the firm’s acclaimed Administrative Law Department. Rothken joined the firm’s Administrative Law Department in 2018 as an experienced...
REBNY Gala: New York Forever – A Celebration Of Our City
The Glasshouse | Rosenberg & Estis was proud to continue its support of the Real Estate Board of New York at this year’s Gala, honoring our friends Jeff Levine and Hal Fetner. Here are two great photos taken during the event, featuring R&E Members...
NYC Rent Guidelines Board Reaches Final Vote On Annual Rent Increases For Rent Stabilized Apartments And Loft Leases
On June 21, 2022, the New York City Rent Guidelines Board (“RGB”) held a final vote on annual rent increases for rent stabilized apartments and loft leases commencing between October 1, 2022 through September 30, 2023. The Guideline increases are as follows: 1 year...
Rosenberg & Estis Secures Precedent-Setting Victory In Rent Dispute With The Gap And Old Navy
Rosenberg & Estis, P.C. has successfully defeated an appeal by The Gap Inc. and Old Navy LLC in an action seeking, among other things, to terminate the long-term leases at their flagship stores in the heart of Times Square and avoid paying millions of dollars of...
NYS Amends Private Housing Finance Law: Allows Collection of Greater Rent Subsidies for Certain Subsidized Affordable Housing Projects
Dear Clients: Owners, lenders and potential purchasers of NYC multifamily properties subject to regulatory agreements with public agencies should be aware of a positive development from the recently concluded NYS legislative session which was passed by the legislature...
NYC Property Tax Rates for 2022/23
The New York City budget passed last night and the City Council set the fiscal year 2023 (7/1/2022 – 6/30/2023) property tax rates as follows: The tax class 4 (commercial) tax rate had its first decrease in five years. The tax class 2 (apartment buildings) tax rate...
421-a Update: NYS Legislature Does Not Renew/Replace 421-a; June 15, 2022 Vesting Deadline Approaching
Dear Clients: The NYS Legislature has adjourned without renewing or replacing the expiring 421-a property tax exemption program. Residential projects looking to vest for 421-a benefits must achieve a “Commencement Date” on or before June 15, 2022 to potentially...
Celebration Dinner Honoring Blaine Z. Schwadel and Jeffrey Turkel
On June 9, 2022, we had the great honor in gathering together to celebrate R&E legends Blaine Schwadel and Jeffrey Turkel. Having been with the firm their entire careers it was a wonderful evening to pay tribute to what they’ve accomplished and to wish them...
Rosenberg & Estis, P.C. Represents The Durst Organization, Facilitating $100M Redevelopment Loan For 825 Third Avenue
Construction loan to fund repositioning of flagship Midtown East office tower NEW YORK, NY, June 9, 2022 – Rosenberg & Estis, P.C. recently facilitated a $100 million redevelopment loan, with JPMorgan Chase Bank and Wells Fargo Securities as co-lead...