While Local Law 97 passed nearly five years ago, it officially went into effect earlier this year. Part of the broader Climate Mobilization Act designed to significantly decrease New York City’s carbon emissions, Local Law 97...more
The first compliance period for building owners under Local Law 97 (LL97), New York City’s (NYC) landmark climate change legislation, began this year on Jan. 1. Subject to limited exceptions, property owners are required to...more
Kramer Levin convened a room of real estate heavy hitters for their “The Conversion of Office to Residential: Defining NYC’s Future” event at the Kramer Levin Multimedia Conference Center in NYC on April 9....more
Jan. 1, 2024, not only marks the start of the new year, but also the start of the first compliance period for building owners under Local Law 97 (LL97), New York City’s (NYC) trailblazing law that imposes limits on greenhouse...more
Security deposits are a fundamental landlord protection under leases with the expectation of tenants that the deposits will be returned upon the expiration of the lease. While landlords frequently consider how to protect...more
With the adoption of increasing and costly environmental regulation affecting buildings nationwide, Commercial Property Assessed Clean Energy (CPACE) financing offers a unique vehicle that may be used to fund qualifying...more
While many real estate developers are grappling with the costs of the COVID-19 pandemic, astute investors are surveying opportunities, particularly in distressed condominiums. COVID-19 has shined a spotlight on the...more
Real estate lenders and borrowers everywhere are trying to figure out what to do with properties that are either sitting vacant or underperforming pre-pandemic expectations. In New York, a number of mezzanine foreclosures...more
On March 25, the State of New York Department of Law (DOL) issued a policy memorandum temporarily modifying certain submission requirements for condominium and cooperative offering plans and amendments thereto....more
On March 25, the State of New York Department of Law (DOL) issued a policy memorandum temporarily modifying certain submission requirements for condominium and cooperative offering plans and amendments thereto. ...more