6 Important Considerations Before Buying a Home in a Homeowners Association It’s important to do your due diligence with the help of a legal and accounting professional prior to buying a home in a homeowners association (HOA). Here are some aspects to consider first: 1. Get to know the HOA. Read the HOA rules, regulations, publicly […]
Is It a Good Time to Buy or Sell My Home? Unfortunately, when it comes to deciding whether it’s a good time to buy or sell, the answer isn’t straightforward. That’s because there are a lot of factors to consider. For instance, the current mixed-macro environment has made it difficult to gauge the housing market. […]
Leasing Options to Consider in the Post-COVID Era Given that governments have embraced the idea that shutdowns will remain as one of the tools used to combat Covid and pandemics in general, it is ideal for landlords and tenants to explore their options and prepare to negotiate provisions related to these events since the statutes […]
Legal Effects of COVID-19 on NYC Commercial Leases If the government declares a state of emergency again due to another public health crisis and initiates a government mandated lockdown, are you prepared? Legally speaking, that is. Even after the substantial effect that COVID-19 had on the economy, governments have not publicly changed their stance on how […]
Legal Updates from NYC’s Real Estate Landscape: Rent Stabilization Infringement & Gender Diversity NYC-based boutique law firm Pardalis & Nohavicka brings the latest legal updates from the world of real estate. Pardalis & Nohavicka handles an eclectic array of matters, representing individuals and business owners in civil litigation, criminal cases and business transactions, currently litigating and representing clients […]
requirements like never before. One recent bill, Senate Bill S-7729, otherwise known as the SOP Law, has added an especially high number of policies to regulate brokers and agents’ actions.
New York City lawmakers recently passed Local Law 97, limiting the effect of greenhouse emissions on new and existing real estate projects in the city. How will this affect upcoming real estate projects?
Cryptocurrency & Its Effect on New York City's Co-op & Condominium Markets A rare event occurred in November 2021: For the first time, a real estate investor purchased three luxury condominium properties with cryptocurrency. The first was purchased at 385 First Ave. without traditional loan banking methods. Magnum Real Estate Group sold a $29 million, […]
The New York real estate market has been on hold throughout the last two years, and personal and commercial sales of property have been at all-time lows. COVID-19 has created a sense of panic for investors, middle-income and elderly homeowners who are afraid to be displaced from the condos, co-ops, and private residences. Let's explore the pros and cons of the evolving disclosure scenario in the 2022 real estate market.
It seems as though the rules keep changing for Co-Op boards, making it increasingly difficult for borrowers to fully comprehend the ever changing law. Under former New York State law, reverse mortgages were only available to one to four family residences and condominiums. Now, the New York State Assembly passed a law that made borrowers eligible for reverse mortgages in Cooperative Apartments.