News & Analysis as of

Condominiums New York

Seyfarth Shaw LLP

Complying with the Corporate Transparency Act of 2020: Guidance for New York Cooperatives and Condominiums

Seyfarth Shaw LLP on

Seyfarth Synopsis: The Corporate Transparency Act of 2020 (“CTA”) took effect on January 1, 2024 (“Effective Date”), impacting many privately held corporations, limited liability companies, and other similar entities. At a...more

Cozen O'Connor

Certain Residential Leases Must Now Disclose Flood History and Risk

Cozen O'Connor on

Effective immediately, Section 231-B of New York Real Property Law (Section 231-B) has been amended to require that every existing and prospective residential lease provide a notice to the tenant related to the leased...more

Cozen O'Connor

New Rules Set to Clarify “Good Faith” Efforts to Comply with Local Law 97

Cozen O'Connor on

The commencement of the Local Law 97 (LL 97) compliance period is quickly approaching, beginning in January of 2024. Condominiums and Cooperatives will soon be assessed hefty fines for non-compliance. See our previous...more

Harris Beach PLLC

New York Rules Transfers of Parking and Storage Space Licenses are Subject to Transfer Tax

Harris Beach PLLC on

A recent private letter ruling published by the NYS Department of Taxation & Finance (the “Tax Department”) has opined that the conveyance of a license agreement for a parking space and storage space, in conjunction with the...more

Smith Gambrell Russell

Do Marijuana Smokers Have Special Rights in Your Co-op or Condo?

Smith Gambrell Russell on

The possession and use of marijuana by persons who are at least 21 years old is now legal in New York, as is the sale of marijuana and other cannabis products by New York State licensed dispensaries. However, a number of our...more

Cozen O'Connor

How Can Coop and Condo Boards Further Restrict Short-Term Rentals?

Cozen O'Connor on

New York City recently adopted Local Law 18, also known as the “Short-Term Rental Registration Law,” which requires owners and/or renters (hosts) who want to rent out their residential units for less than 30 days to register...more

Cozen O'Connor

New COVID-19 Vaccination Workplace Requirements: How Boards of Cooperatives and Condominiums Comply

Cozen O'Connor on

No later than December 27, 2021, all workers in New York City must provide proof to their employers that they have received at least one dose of a COVID-19 vaccine, under an order recently issued by the commissioner of the...more

Tarter Krinsky & Drogin LLP

New Requirement For New York Landlords: Reasonable Accommodation Notice For Persons With Disabilities

A change in state law that takes effect this month now requires New York residential landlords to distribute disability accommodation notices to all current tenants by April 1, 2021, and to all new tenants within 30 days of...more

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