Taxes from the sales of multimillion-dollar homes are going up, thanks to the folks up in Albany. As part of New York State’s 2020 budget, a change has been enacted to New York State’s ‘mansion tax.” Originally enacted in 1989 by the…
Was your building’s elevator installed before 2009? If so, it will probably require the installation of a door monitoring lock in order to be in compliance with a new regulation passed by the City. New York City adopted the new rule to…
As members of Congress currently debate the issue of climate change down in Washington, New York City is already implementing its own Green New Deal--and the real estate industry will feel its impact On April 18, the City Council pas…
What’s more ‘New York’ than therapy? How many Woody Allen movies feature a scene where Allen’s character is lying on a comfortable couch in an impeccably decorated room overlooking the Hudson as he confesses to his psychotherapist? That sce…
Owners of newer New York City condominiums are facing higher property taxes, as once-beneficial tax abatements are starting to expire. According to a study by StreetEasy , the imminent end of the tax abatements means that not on…
An initial push to tax expensive second homes in the Big Apple appears to have lost its momentum. Legislation for a pied- à -terre tax, which was o riginally introduced by New York State Senator Brad Hoylman in 2014, would hav…
Most co-op, condo, and HOA boards are made up of honest people who truly want to act in the best interest of their community -- but sometimes bad actors do wind up on boards, and sometimes even whole boards can be corrupt. In this short cli…
If state legislators get their way, wealthy people who own expensive second homes in the Big Apple may have to fork over more in taxes. This past Monday, Gov. Andrew Cuomo and other Democratic leaders in Albany announced their suppor…
Most board members are not legal professionals. They're volunteers, and may have plenty of useful expertise, but when it comes to legal issues facing their building or HOA, it's easy to fumble - and those fumbles can be costly. In this clip…
Co-ops and condominiums are subject to more and more legislation affecting how they govern and interact with shareholders and unit owners. In fact, boards and residents alike should be aware of several new laws and regulations that have rec…