Jump to Navigation
Finding Real Estate Solutions That Meet Your Needs
Solutions

New York Real Estate Law Blog

The right lease can change your business's outlook

When you're ready to purchase or rent commercial real estate, you do have every right to be picky about your business. Your decision to lease a storefront, for example, could make or break your company depending on its location.

As a new buyer or renter, one thing you need to think about is the landlord's desire for a certain kind of tenant. If there is a large area that needs to be filled, for example, he or she may be seeking out a restaurant owner to fill part of the void and then try to fill other spaces with retail outlets.

Using a limited liability company in real estate can help

When you purchase a home, you may want to consider buying as an LLC. There are a number of reasons property buyers may want to do this, including shielding their identities from the media or the public. Some sellers may believe using a limited liability company is a little suspicious, but it's not. It's a common practice, and here are a few reasons why.

First, and LLC helps protect your identity when you make a purchase. Deeds and other records are public documents, but an LLC can help protect your personal identity and prevent others from seeing which properties you own.

Arbitration and mediation can help you resolve disputes

If you have a dispute with a neighbor, a home's seller or another party, it's important that you take steps to move on from that dispute and come to an amicable solution. While going to court is one option, there is also the possibility of involving both parties in mediation or arbitration.

In cases where you've purchased a home or structure that is not as it was represented, you may be angry or frustrated. Mediating may be the last thing you feel like you want to do, but mediation can help you save money and keep you out of court.

Which kind of mediation is right for your dispute?

When most business owners hear about mediation, they think about one thing: the notion of "compromise." In other words, it's common fear of business owners in the throes of a business dispute to worry that they won't get everything they want during their mediation process.

While it's true that many mediations can involve some kind of compromise, the general goal is to arrive at a fair agreement that both sides are genuinely happy with -- an agreement that reflects how a judge might decide the case if it were to go to court.

Condominiums: The benefits and downsides matter

Condominium living can be an exciting idea, but only if you understand what you are taking on. Is condo living really right for you? There are many things you need to consider before you make that decision.

There are some benefits to owning a condo, for example. These benefits may make it worth owning a condo if they're things you prefer in your life.

Consider the location when vetting out property for a restaurant

Opening your own business is a day of great joy. There are several factors that have an impact on your business' success. One of these is the location where you operate the business. If your business is a restaurant, location is one of the most important factors.

You might think that you have the perfect location for a restaurant, and you just might. Before you make plans to sign the commercial lease, think about these very important points.

New York City taxes soar for co-op and condominium owners

If property taxes are keeping you from wanting to own a co-op or condominium, you're not alone. In fact, co-ops and condos end up paying five times more than other homeowners in property taxes, something that has long been regarded as unfair in the state.

Today, in 2017, that may finally be addressed. According to a May 22 report, a group of landlords and activists named Tax Equity Now has stepped forward and filed a lawsuit to seek reform through the courts. The group is angered primarily that homeowners have many tax advantages over those in co-ops, condos or apartments.

Zoning regulations: Keep your business in the lines

When you want to run a business, it's important that the property you use is zoned correctly. If it is not zoned correctly, you may be unable to use the property to perform your business' operations.

Zoning regulations were created by municipalities so that they could direct the areas of development within their borders. For example, a city might have one sector for commercial businesses and another for residential buildings.

Real estate prices are setting records in New York

Real estate in New York has continued to increase in value to the point that it is now setting records for its sale prices. If you're planning to buy real estate, you may want to consider a co-op, because selling prices have fallen, making them more affordable. The average price as of April 2017 is around $711,000.

Real estate on the whole has risen in price dramatically. Condo sales have driven the market, and the number of completed real estate transactions increased by 15 percent from the previous quarter. The number of sales increased by 2 percent.

Ready to sell a condominium? Get the law on your side

A condominium is similar to a traditional home in that you can sell and buy it, but it's different because common areas are co-owned by the people who live at the property. Condominiums can be converted into apartments or vice-versa. Each one has the potential to be sold with an individual deed and is subject to a separate mortgage. The entire property does not need to be purchased as a whole.

As the owner of the condominium, you are part of the Condominium Association if you own part of the condominiums or live in one of the condos. The Condominium Association works like a landlord, and it's responsible for collecting maintenance fees and dues. A condominium that is sold completely with you retaining no part of it will mean you give up your interests in the condominium.

Subscribe to This Blog’s Feed

Contact Our Attorneys

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

FindLaw Network

Attorney Advertising