Thanks to Local Law 110, which took effect at the beginning of December 2019, if you are the owner of a residential building within the five boroughs of New York City, you are now required to post or distribute a
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 6
New York City Building Owners: What Does #GreenNewDeal4NY Mean For You?
To combat against the harmful effects of climate change, the New York City Council recently passed the Climate Mobilization Act (CMA)[1] – landmark legislation aimed at reducing New York City greenhouse gas emissions levels by 40% by 2030 and…
LLC Sellers and Buyers Beware: Unprecedented Reporting Requirements
*Update: On November 4, 2019, after coming under heavy fire from New York City’s real-estate industry, the State’s Department of Finance and Taxation issued a new guidance that notably no longer requires LLC sellers and buyers of residential condominium units…
Tenant Rent Regulation Reforms
As the hours count down before the laws governing New York City’s rent-regulated apartments are due to expire, the New York Senate and Assembly have come to an agreement on permanent and far-reaching reforms which affect nearly 1 million rent…
For-Profit Operations at a State Owned University Found to Qualify for Tax Exemption
In what may prove to be a watershed moment for real property tax exemption jurisprudence in New Jersey, the Appellate Division has held that property located on the campus of Kean University (a State owned institution of higher education), but…
Update: New York Court of Appeals Deals Serious Blow to Future Yellowstone Injunctions
In a landmark decision, the Court of Appeals, New York State’s highest court, has endorsed a commercial tenant’s waiver of its right to seek a “Yellowstone” injunction, perhaps sounding the ultimate death knell for this common remedy for commercial tenants…
State Contractor Sentenced to 18 Months in Federal Prison Following Conviction for Mail and Wire Fraud in Connection with State-Run and Federally Funded Bridge Maintenance Project
On May 2, 2019, Nathaniel Lorenz was sentenced to 18 months in prison following his November 8, 2018 conviction on eight counts of wire fraud and one count of mail fraud for defrauding the government in connection with a bridge…
Commercial Landlords Beware: Tenant Trademark Infringement
Commercial landlords can now add another item to the already interminable list of risks they face in their capacities as landlords: liability borne from a tenant’s trademark infringement. The notion that a landlord could be vulnerable to legal action for…
The Responsibility of a Condominium Association to its Residents on Damage Claims
In South Florida where planned communities are common, condominium associations—and homeowners’ associations—are often the norm, not the exception. Florida Statutes Section 718.103 defines a condominium association as “any entity responsible for the operation of common elements owned in undivided shares…
New Jersey Court Rejects Zoning Board’s Issuance of a Variance That Discriminates Against Tenants
The Appellate Division has once again confirmed that “distinctions between renters or property owners in the application of zoning and land use laws have no place in the application of legitimate objectives of zoning.”
In Tirpak v. Bor. of Point…