When looking at real estate trends, and especially the demographic-based fundamentals that underpin real estate values, we have seen a lot of change in very little time. The pandemic has shifted the labor market expectations of homeowners and renters alike, adjusting where developers are focused and, because no two jurisdictions are alike, impacting the way
Real Estate
Eligible New York City Building Owners: Now is the Time to Take Advantage of C-PACE Financing
By Jordan J. Metzger & Nicole Dlugosz on
Posted in Finance, Real Estate
Summer Associate, Dalila E. A. Haden, contributed to this blog.
In early June, the first Commercial Property Assessed Clean Energy (“C-PACE”) transaction closed in New York City, courtesy of C-PACE financing provided by Petros PACE. In connection with a larger $500 million dollar acquisition and construction financing deal involving a 1.2 million square-foot office building…
Tenant Rent Regulation Reforms
By Jordan J. Metzger & Cristina M. Riggio on
Posted in New Rules and Legislation, Real Estate
As the hours count down before the laws governing New York City’s rent-regulated apartments are due to expire, the New York Senate and Assembly have come to an agreement on permanent and far-reaching reforms which affect nearly 1 million rent regulated units. Deemed the strongest tenant protections in the history of rent regulation, this controversial…
Commercial Landlords Beware: Tenant Trademark Infringement
By William W. Stroever & Adam H. Morsy on
Posted in Real Estate
Commercial landlords can now add another item to the already interminable list of risks they face in their capacities as landlords: liability borne from a tenant’s trademark infringement. The notion that a landlord could be vulnerable to legal action for the actions of its tenant runs counter to many people’s understanding of fairness. Nevertheless, commercial…
NYC Council Modifies Commercial Rent Tax
By Adam H. Morsy on
The New York City Council approved a bill on Thursday, November 30, that impacts thousands of small business owners located south of 96th Street in Manhattan. The bill modifies the threshold that businesses must meet in order to be exempt from paying the 3.9 percent New York City commercial rent tax, which is…