To continue to mitigate against the devastating economic effects of COVID-19, Freddie Mac provided further relief for multifamily landlords and tenants by revising its existing Multifamily COVID-19 Forbearance Program (Forbearance Program) in response to the enactment of the CARES Act.
Real Estate & Construction Law
The Real Estate & Construction Law blog published by Cole Schotz P.C. covers legal issues related to real estate transactions, construction projects, and associated financing. Topics include contract negotiation and risk allocation in construction agreements, litigation risks and dispute resolution in real estate and construction contexts, regulatory compliance, and the impact of market and economic trends on real estate investments. The blog also addresses practical concerns such as filing notices affecting property interests, labor mobility effects on multifamily housing, and evolving challenges like supply chain disruptions and public health mandates affecting construction and real estate operations. It provides insights relevant to developers, lenders, property owners, and legal practitioners in these sectors.
Latest from Real Estate & Construction Law - Page 4
NYC DOB Guidance is Now in Line with State
In new guidance issued by the New York City Department of Buildings brings their stated policies in line with latest guidance from Empire State Development.
Three basic categories of construction are permitted to continue: (1) Essential Construction; (2) Emergency Construction;…
Managing Coronavirus Risk on an Active Jobsite
Understanding and Protecting Your Rights for Schedule Impacts on an Active Jobsite During a Pandemic
In addition to undertaking on-site mitigation efforts, the coronavirus pandemic presents questions and issues to overcome from a project management perspective. Management staff must remain focused on communicating with their teams, up and down the chain of contracts, and, of…
New Jersey Follows New York’s Lead in Limiting Construction to “Essential” Projects
Earlier this week, on Monday, we had reported that New Jersey was allowing, subject to proper distancing and safety measures, all construction projects within the State to proceed “as usual,” but that we believed New Jersey might ultimately follow New…
Attention NY Building Owners: The Rent Overcharge Provision of the Housing Stability and Tenant Protection Act of 2019 Only Applies Prospectively
In the midst of the global COVID-19 (Coronavirus) pandemic, some New York building owners are breathing a collective sigh of relief after securing a hard-fought victory in the New York Court of Appeals. On April 2, 2020, the Court of…
NYC DOB Provides Guidance on Permitted Construction, Narrows Affordable Housing Exception
In March of this year, New York State issued restrictions on the operation of all businesses, providing some exceptions for businesses viewed as “essential.” Construction services were included as “essential.” Later in the month, seemingly in response to public outcry,…
Construction in New Jersey – Business as Usual… For Now?
New Jersey, like its sister state New York, has been overwhelmed in recent weeks with COVID-19 cases, and both states have responded in kind with a variety of “stay at home” executive orders in an attempt to reduce, as much…
NYC Provides Guidance for Programs Available to Property Owners for Relief from Property Taxes
In the midst of the global COVID-19 (Coronavirus) pandemic, the New York City Department of Finance (“DOF”) recently publicized several programs aimed at assisting property owners experiencing hardships with making their property tax payments. The programs are not new but…
Proposed Bill to Cancel Rent Payments for Individuals and Small Businesses
New York State Senate Bill S8125A is back in the headlines after 60,000 New Yorkers reportedly requested for the bill to be passed via the New York Senate’s website. Support for the bill is growing rapidly, earning the backing of…