In an article that appears on Law360.com, Joe Marger of our New York office is quoted in an article titled "Developers Reaching Deep for Rights to Build Sky-High." The demand for sky-high condos and penthouse apartment has changed how property owners look at air rights. They are now valuable real estate assets. In an interview … Continue Reading
This post was also written by Joshua Leventhal In an effort to expedite the litigation process, reduce court costs and to offer contracting parties an alternative to arbitration, the New York State Supreme Court Commercial Division has adopted an “accelerated adjudication” rule, effective as of June 2, 2014, for all disputes exceeding $500,000. The “accelerated adjudication” … Continue Reading
This post was written by Lesley Vars and Leah Speckhard Prices for transferable development rights, commonly referred to as “air rights”, in New York City are reaching sky high numbers as developers scramble to build higher and higher. According to the Wall Street Journal’s April 23, 2014 article, titled “Sky is the Limit for Air … Continue Reading
Part of a series on creative Real Estate financing. Using Crowdfunding to finance real estate projects Using New Market Tax Credits to finance projects Let the Purchaser do the Financing The Internal Revenue Service (“IRS”) recently issued important new guidelines regarding the Historic Rehabilitation Credit (“HRC”) reopening a recently moribund financing method. The new guidelines provide … Continue Reading
On March 18, 2014, the United States Court of Appeals for the Second Circuit decided that under the federal environmental cleanup law known as the Comprehensive Environmental Response, Compensation and Liability Act ("CERCLA") (42 U.S.C. §9607), a subcontractor cannot recover the value of unpaid work directly from a landowner if the landowner has already paid … Continue Reading
This is a follow-up to an earlier blog post on this issue from March, 2014. On March 25th, I posted about the legal implications of using on-line apartment-renting services like AirBnB. Specifically, the post discussed how AirBnB hosts should be mindful of their state’s tax laws and occupancy laws. A few days after the post, … Continue Reading
This post was also written by Leah Speckhard Last weekend, I came across an interesting story on my Facebook news feed. It detailed how a New York comedian had rented out his apartment for the weekend using a popular website, AirBnB, only to come back and find that his apartment had been used to host … Continue Reading
In a recent decision, the New York Court of Appeals held that a NYC proprietor could operate a restaurant on city-owned parkland located in Union Square notwithstanding the so called “public trust doctrine”. The restaurant will replace long-time neighborhood favorite Luna Park, which closed in 2007 at the time of a citywide park renovation initiative. … Continue Reading
