In response to a ruling request from Holland & Knight, the New York City Department of Finance (DOF) issued a ruling (FLP-22-5024) holding that a homeless shelter owned and operated by a not-for-profit (NFP) entity is...more
The leasehold condominium structure has become a popular way for landlords and nonprofit entities to establish or modify their relationship to permit space that the nonprofit would formerly lease to qualify for a real...more
Twenty-four members of the New York State Senate on Jan. 27, 2021, introduced S-3082, and 43 members of the New York State Assembly on Feb. 19, 2021, introduced A-5573 (collectively, the bills), which would preclude the...more
3/4/2021
/ Condominiums ,
Eviction ,
Good Cause ,
Hotels ,
Landlords ,
Proposed Legislation ,
Rental Property ,
Residential Leases ,
Residential Real Estate Market ,
Sub-Tenants ,
Tenants
Numerous reports have documented the softening condominium market in New York and other large cities resulting from the excess capacity of expensive units. The softening could lead to developers not meeting their repayment...more
• New York's Housing Stability and Tenant Protection Act of 2019, which was enacted and became effective on June 14, 2019, will have a sizable impact on a landlord's ability to convert buildings to cooperatives and...more
7/12/2019
/ Apartments ,
Attorney's Fees ,
Co-Op ,
Commercial Property Owners ,
Condominiums ,
Eviction ,
Foreclosure ,
Landlords ,
Late Payments ,
Multi-Family Development ,
New Legislation ,
Notice of Default ,
Notice Requirements ,
Rental Property ,
Shareholders ,
Tenants