Advocates and industry leaders calling for more protections and more action from Governor. On May 7, 2020, New York Governor Andrew Cuomo issued Executive Order No. 202.28, extending the eviction moratorium through August 20, 2020. The moratorium prevents the filing of eviction proceedings against both residential and commercial tenants. The original eviction moratorium, came by way of Chief Administrative Judge Lawrence K. Marks on March 15, 2020, and was reinforced by Governor Cuomo’s Executive … <Read More>
Search Results for: Industry City
Council Committee Holds Hearing on COVID-19 Relief Bills
Committee hearing calls into question the amount of loans and protections for small businesses during COVID outbreak. On April 29, 2020, the City Council’s Committee on Small Business and Committee on Consumer Affairs and Business Licensing held a joint public hearing on the impact of COVID-19 on small businesses in New York City. Of the thirteen proposed bills, three were specifically labeled as part of a COVID-19 Relief Package. The bills address personal liability for … <Read More>
REBNY Challenges Department of State’s Memo Prohibiting Broker’s Fees
Real estate community in state of confusion over 2019 Rent laws. On February 10, 2020, the Real Estate Board of New York Inc. (“REBNY’”), the New York State Associations of Realtors (“NYSAR”) and a host of residential real estate brokerages were granted a temporary restraining order, blocking the New York State Department of State’s guidance on broker commissions. The TRO comes in conjunction with their Article 78 filing seeking to invalidate the memorandum’s entire section … <Read More>
The Rooftops Conference 2020
The Rooftops Conference NYC 2020, to be held on Friday, April 24th, will be our tenth annual New York City symposium for the not-for-profit sector focused on the role of real estate — owned, leased, or hosted physical space — in the operations, financial performance, and achievement of mission by not-for-profit organizations of all sizes and mission types.
Realty Trust Must Pay Higher Tax Rate
City Tax Appeals Tribunal determined transfer was not eligible for special reduced rate. One Park Avenue Mezz Partners LLC, a subsidiary of industry giant Vornado Realty Trust, held a 100 percent equity interest in a commercial building located at One Park Avenue in Manhattan. In March 2011, while looking to refinance the building, Vornado had that equity interest transferred in full to two new subsidiary real estate investment trusts. The compensation was roughly $5.6 million … <Read More>
Landmarks Approves Tin Pan Alley Designation
The five buildings were home to popular musicians and publishing firms during the height of Tin Pan Alley. On December 10, 2019, the Landmarks Preservation Commission voted to approve the landmarks designation of five Italianate-style rowhouses located at 47-55 West 28th Street, collectively known as “Tin Pan Alley.” Tin Pan Alley is known for being the home of musicians and sheet music publishers between 1893 and 1910. The area received its nickname from the sounds … <Read More>