In the midst of the coronavirus pandemic when more condo and coop board business is being conducted electronically than ever before, the Stop Hacks and Improve Electronic Data Security Act (SHIELD Act) will go into effect on...more
Click here to read more on the coronavirus According to the Centers for Disease Control and Prevention (CDC), the immediate risk of being exposed to COVID-19 (aka, the coronavirus) is thought to be low. While the virus is not...more
3/10/2020
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Coronavirus/COVID-19 ,
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Effective February 20, 2020, the New York City Department of Buildings (DOB) expanded the requirements of its Façade Inspection and Safety Program (FISP), known previously as Local Law 11. Cooperative and Condominium Boards...more
3/5/2020
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Coops and condos will not need to pay their service employees prevailing wages to keep their units eligible for the Cooperative and Condominium Tax Abatement (the abatement). The abatement reduces property taxes between 17.5...more
2/12/2020
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Wage and Hour
If your condo or coop utilizes CSC ServiceWorks, Inc. (CSC) for laundry services, your condo or coop may be able to benefit from a class action settlement if you act now. A class action suit against laundry machine services...more
On September 13, 2019, New York State Department of State issued guidance for real estate professionals (the guidance) concerning the Housing Security & Tenant Protection Act of 2019 (the Act). The guidance loosens the...more
New York’s Housing Stability and Tenant Protection Act of 2019 (the Act) was signed into law on June 14, 2019, leaving condo and coop boards with grave concerns — if not outright panic — about how it impacts their day-to-day...more
Yesterday, April 19, 2019, New York City Council signed into law a bill that will have a major impact on property owners throughout the city, including owners of condominiums and cooperatives. Prop 1253-C, better known as the...more
As this firm has previously advised, as of September 2017, New York Business Corporation Law (BCL) Section 727 requires condominiums and cooperatives incorporated pursuant to the BCL (and the Not-for-Profit Corporation Law)...more
Every residential building in New York City is now required to establish and display a smoking policy that specifies where smoking is and is not permitted on the property by August 28, 2018, pursuant to Local Law 147 (LL...more
On Friday, October 21, 2016, Governor Cuomo signed a bill banning the illegal advertising of apartment or units in Class A buildings on home-sharing sites such as Airbnb. The bill piggybacks on the 2010 law, which banned...more
Earlier this week, the Real Estate Finance Bureau of the New York State Office of the Attorney General (REF) provided significant guidance on several issues facing sponsor-developers of new construction and gut-renovation...more
Under Local Law 11 (LL11), the New York City Department of Buildings requires owners of buildings that are six stories or greater to have exterior walls inspected once every five years. Commonly referred to as FISP (Façade...more